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I'm really thinking about tossing 500.00 or so of my 2000 CRH monies out for some bullion.
I have a friend at work that wants to invest in silver because he doesn't want all his money tired up in a bank. Now would be a good time. I'm not sure how to give him the ins and outs of investing in PM's. He asked if he'd lose money. Not sure I can answer his question.
NP
In the short run, yes.....Long run, nope. If he buys it at $27 an ounce right now ($26.93 right now....11:52pm PST), then that $27 will become $34, $36, $40, $100, even $500...in the long run. If he buys it for $27 then yes he might lose money tomorrow because the price might go down to $25 an ounce. BUT that does not mean he shouldn't have at least some silver.
I don't expect it to jump to $50 an ounce tomorrow, or the day after...UNLESS, a war breaks out or the dollar goes down the drain, which will happen sooner or later. I rather have silver than lose all my money.
I'm coming from an ex-Soviet Union country. Our currency went down the drain and almost EVERYONE lost their money. I remember playing with a stack of money when I was a kid. This happened around 1991 if I'm not mistaking. The smart people bought a house, a car, jewelry, gold, silver, other currencies and retained their wealth. My family lost A LOT of money.
What's better....to have a $100 bill or $100 worth of silver? If that $100 bill turns into toilet paper, then you'll still have silver, which will still be money. Last time I checked, silver has been REAL money for the past 6000 years.
Yes, we do need $100 bills to pay our rent, food, bills, and everyday expenses....BUT, I rather have some silver, than have nothing at all!
That's also why I have guns and ammo. I rather have a gun to protect myself than call 911 and wait 10 minutes for them to come and take a pictures of a body.
Well said. I'll use your statement here to answer his questions.
NP
It's dropping again today. I'm almost ready to pull the trigger and dump half my CRH money. I will still do the same amount just spread out.
Humm....what to do!
NP