ExUmbris

On 02/09/2022 at 22:59, GoldDiggerDave said:

Silver is not a good store of wealth, can you really call it "a store of wealth"   you will also hear the mantra "it's a protection against inflation"   

1 Silver in the last 10 year had not moved in price we can all agree on this.

2 if silver has not moved with inflation, so anyone who can use an abacus or count on their 10 fingers can work out it dose not protect you against inflation because it does not even keep up with the very thing it's supposed to protect you against.  

3, if silver does not move with inflation you are losing  more of your  "store of wealth" the longer you hold it 

4, you could have bought almost anything  over the last 10 years that would have stored more your wealth than silver and or protected you against inflation.

5, £89 per unit 10 years ago £169 per unit now thats a 89.8% price gain remind me again how much silver has moved in the last 10 years? see number 1 

Is amazes me the number of people who buy into silver and don't understand basic economics, yes fiat loses around half its value every 10 years, so if you lock your fiat into silver (hers that quote again) "as a store of wealth" then silver needs to double in price  over ten years just for you to retain your original purchasing power......Are we learning anything yet? 

So many people go along with buzzwords they have heard someone say "it's as store of wealth"  "it's a hedge against inflation".......And when it dose not work out they way people thought guess what they say?........."silver is manipulated"    this is moronically hilarious  sorry I don't have an emoji to show how stupid this is.  

Mate buy into silver and believe what you want,  but I'd strongly recommend you look into buying silver with some scepticism or in another 10 years your "store of wealth" will lose more of it purchasing power as we have already seen this year most fiat currencies lose around 35-40% of purchasing power in a 9 month period  and silver has decreased in price by another 9.8%.......Can you not see this yet?   Mate come on wake up, fiat has lost 35-40% though inflation and yet your "store of wealth" has lost another 9.8%......How much money do you need to lose before you wake up? 

Folks I'm not out to be the bad man here but I can not go along with the silver cult when evidence and facts shows silver is not a good store of wealth over the last 10 yeast, silver has not protected you from inflation of the last 10 years, silver has lost 9.8% of it's value this year while we are seeing fiat losing 35-40% of its value.

This year alone silver has to increase by 40% not go down 9.8% to give you a hope in hell of retaining your original purchasing power over a 9 month period.....And its worse than this as in the uk you have to allow for 20% VAT and 20% dealer premium plus postage so we need silver to more than double (I calculate  this  to be 233% to break even)  in price over 9 months to sell back your silver to the dealer and retain your store of wealth from the start if this year.  

If fiat is losing so much of its buying power you might as well buy 10 pairs of boots, clothing anything that you will need and does not perish now as this is a better way of protecting you against inflation than silver ever has been  in my living lifetime.

I hope I've cleared up your confusion! 

 

 

 

 

Thank you very much for taking the time to educate me in your post I stand corrected with my "store of wealth" statement. I am a fan of gold and silver but an even bigger fan of spreading my money into things that are not fiat so I don't just stack silver in hopes it goes to the moon, as it very well may never do so. I also have a fair amount of gold and plan to add significantly to that over time, I am nearly at the top of where I want to be positioned for silver because it currently remains undervalued/manipulated whatever we want to call it I could get more of it for less money so it was easier to stack the stack in Ag first and build Au more gradually. I have seen too many opportunities to invest where I learned about them too late and they were no longer a great buy. I see PM's as undervalued so I wanted to get ahead of the potential growth as the US Dollar commits suicide and the inevitable transition to digital currencies happens. At the end of the day I am fairly new to all of this and my financial education is far behind where it should be for a number of reasons I won't go into at the moment. I am here to learn and grow and hopefully avoid catastrophic mistakes in the process.

On 04/03/2022 at 14:55, metalsforthewin said:

Any good gold and silver deals?  Looking for a gold IRA company to rollover my retirement.  

Still in the process of researching...

If you are still searching (and in the US) I have dealt with silvergoldbull several times they have consistently had the best prices for gold and silver and they can help you with a rollover as well. Equity Trust has fairly low annual and storage fees for PM IRA storage and both companies answer their phones and are happy to answer questions which helps with peace of mind. 

On 31/08/2022 at 07:47, GoldDiggerDave said:

One was Dr Marten boots 10 years ago they were £89 a pair silver was about £27 inc derailed tax……10 years on my boots are now £169 and silver is still £27. Would have been better off stacking boxes of boots and sticking them on eBay than silver……….oh c Rap I’m gonna upset the silver cult again😂😂😂😂

I am confused. I see your argument and what you are implying but it looks to me like all these items that are now much more expensive just go to show how much less out fiat will buy us now because of inflation. Silver being manipulated by big players toward whatever end has stayed fairly low in price meaning our less valuable fiat can still purchase similar amounts. If silver is viewed as a  investment for shorter term gains it is likely a poor one (unless the believers are right and it shoots for the moon) but because of the artificially low and fairly stable silver price it has been acting more like gold in that it can be seen as a store of wealth. I understand it is less efficient due to premiums and size required for storage but I think it wins out against trying to stack it's equivalent in value of doc martin's after sales tax and storage unit fees. 😂

No deals on silver since June 10th? Come on folks, I've got currency burning a hole in my pocket begging to be turned into money!

Thank you all very much! What a nice surprise.

Dropping like my stack in that boating accident.

Congratulations! @BedMac

Congratulations! @AgNO3

Congrats @Money1

Congratulations!

When I say I am new to stacking, I was not being humble. This was given to me when I was about 8 years old. It is the only piece of PM in my possession... well, until my order from APMEX arrives that is.