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iamu
Sall Growman



Registered: 04/12/09
Posts: 2,412
Loc: Ireland
Last seen: 9 years, 19 days
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Definitely invest in silver?
#15236318 - 10/16/11 10:21 PM (12 years, 3 months ago) |
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Alright, well ive just started making a good income and Im saving. but Im scared im just going to have a lot of money worth nothing when the value of the dollar goes down. (which it should right? judging by our debt?)
My idea was to invest at least 10% of my earnings into silver. but what Id like to know is, is there any chance the value of silver will go down? Is there a chance I could lose money from this? I dont even know where to start on researching this topic.
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scatmanrav
Brainy Smurf


Registered: 05/08/04
Posts: 11,483
Loc:
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Re: Definitely invest in silver? [Re: iamu]
#15236558 - 10/16/11 11:17 PM (12 years, 3 months ago) |
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Nothing is 100% man. If you want to get into silver, nows a pretty decent time, it just went down alot. Maybe itll go down more, maybe up. Maybe alot. Maybe a little. Maybe gold will go up more. Just check out kitco.com and google.com and search, read up. Decide what you think is going to happen. Read threads on gold in this forum too. Often silver is mentioned, and goes in the direction of gold.
Basically if you believe that the value of the dollar is going down then gold or silver is good to get into. Of course if your wrong and the value of the dollar goes up it will go down most likely.
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noobshroombloomer
Apprentice


Registered: 08/24/11
Posts: 58
Last seen: 12 years, 1 month
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Re: Definitely invest in silver? [Re: scatmanrav]
#15250516 - 10/20/11 01:06 AM (12 years, 3 months ago) |
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scat your make a good point but silver is slightly different than gold when it comes to inflation protection. It usually goes with the price of gold but its usually more violent with its swings. Years ago it was simple dollar goes down gold and silver goes up. Now though silver is increasingly used in manufacturing. So when the dollar goes down silver may go up as people fear inflation, BUT it may go down because peoples money being worth less=less consumption=less production=less demand for silver. Its a good time to invest being that its cheaper now than it was a month ago but it may still drop a little. I think if it does though I think it would only be temporary.
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nice1
Not the droid your looking for



Registered: 09/26/09
Posts: 10,449
Loc: earth
Last seen: 11 years, 27 days
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Re: Definitely invest in silver? [Re: iamu]
#15251175 - 10/20/11 08:31 AM (12 years, 3 months ago) |
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I'd say theres a good high chance the silver will end up being better than saving your dollars. Paper is always losing value because of inflation and the loss of faith in the dollar is making that far worse and pushing up metals.
It appears to be good for now. When some solution to the present financial situation arises then metals will come back down. So then maybe you will want to sell it but in general, as a long term investment its almost certainly going to better than an inflated paper currency IMO. I say long term cuz there will still be fluctuations along the way but until economic recovery and faith in paper is returned its almost certainly gonna be better than the dollar.
At the end of the day silver is always going to be an asset. Paper is not!
I'm no expert though. Everything in life is a risk, so its up to you to asses it.
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thescientist
Registered: 03/09/02
Posts: 807
Loc: Dade County
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Re: Definitely invest in silver? [Re: iamu]
#15255073 - 10/21/11 12:23 AM (12 years, 3 months ago) |
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Quote:
iamu said: Alright, well ive just started making a good income and Im saving. but Im scared im just going to have a lot of money worth nothing when the value of the dollar goes down. (which it should right? judging by our debt?)
My idea was to invest at least 10% of my earnings into silver. but what Id like to know is, is there any chance the value of silver will go down? Is there a chance I could lose money from this? I dont even know where to start on researching this topic.
Get some physical silver. You'll like it.
Don't worry about the industrial silver market.
It is a fraction of the silver paper market, which is something that will benefit you as a holder of physical silver.
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