Pipe Dreams...

[$ilver$urfer]

So hopefully there are others of you on this here forum like me who not only search for silver but also purchase it regularly and put it away for safe keeping for that not so magical day when the heavens (economy) crash down and silver hits $75 - $100 an ounce or more so we can sell it all and make a nice little nest egg for ourselves, right Well, besides that quick run up a few months back, when will this magical spike in silver prices happen? The economy is in shambles, unemployment is horrendous, and inflation and prices are getting more and more unstable by the day! What gives

I am starting to believe that it is all staged for political purposes and the prospect of "common folk" like us getting super rich over night is starting to seem more like a pipe dream than anything else. Has the common man ever become rich over night because they owned/held an asset? The only situation I can relate this to is the 1933 gold confiscation where people were paid $20 an ounce for their gold and then it was revalued at $35 an ounce by the gubberment. If they could have sold their $20 gold for $35 that would be a huge windfall but the common man ended up losing in this situation and the good ol' boys club in Washington won (like they always do).

Enough griping, I am thinking of selling my hoard and making a BIG purchase and letting the chips fall where they may (i.e. - who cares if I don't have silver coins to sell or barter with should I miss a huge run up in the price of silver due to a dollar crisis/ economic collapse). Just my two cents, let me know what you all think!

HH,

$ilver$urfer

 

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[$ilver$urfer]

The economy won't crash, no matter what happens. The dollar may lose a bit of value, but it won't crash. The U.S. economy crashing would crash every other economy on this planet. It would be a catastrophe and no matter how much silver you have, you won't be "rich." The only thing that would matter in a crashed U.S. economy is weapons, bullets, water & food. Nothing else.

The only reason you should hold onto the silver is as an investment in silver and not purely as a hedge against a crashing economy. Everything going on in Washington is just politics right now. Just my 2 cents.

I own my home (and two others), I am debt free and hoard gold, silver, copper and lead, but not necessarily in that order.

Legend

I am still fairly young myself (31) and own my own home and 7 rental properties (5 doubles and 2 singles) which cash flow nicely but I have thousands in CC debt which I have been servicing on and off for a few years now and never seem to be able to pay it down/off. I am thinking to myself, sell all the PMs stashed in the SD box and pay it all off and be debt free then start hoarding again? Or are we too close to an economic collapse and I should hold on? What do you all think

Problem is I have been stashing since early last year when silver was $17-$18 an ounce and bought a lot and found a lot CRHing all through now. If I start hoarding again now my in price is $40 an ounce and that which I find from CRHing! I was hoping that people would let me know when they think we are we going to have another spike in prices so it is prime time for selling.

 

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[Piledriver]

A debt free person is more financially powerful than high PM prices.

But on the other hand, the compound interest on CC debt is more powerful than any benefit you will get from your PM's.

Seems simple to me.

 

[conpewter]

I would definitely pay off the CC debt. If the rentals are paying for themselves (including maintenance/vacancy) then I'd leave those mortgages along and keep whatever silver you have left after paying off all debts but mortgages.