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Sobercolober
Tuft checker



Registered: 09/23/10
Posts: 995
Loc: EU
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Quote:
I currently get 3.10% tax free interest on my savings with no risk
You call putting money in a bank risk free ? It's instant access right so you can get it all out tommorrow if you need?
The risk is your money is not in the bank, it is a number on someone elses loan paperwork. And any money you put in the bank ... say 3,000 the bank has lent out 30,000 (x10) on the basis that they are legally allowed to do so. problem is none of this money exists other than on a computer. So when you got to take cash out there is a £500.00 limit per day cause the case does not exist and the bank is protecting themselves against mass customer withdrawal.
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PDU
travel kid vs.amerika



Registered: 12/03/02
Posts: 10,675
Loc: beautiful BC
Last seen: 8 years, 5 months
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Quote:
Sobercolober said: Are you buying this as an 'investment' to earn or as a 'safe haven' for money if/when the global baking system goes down the crapper ?
I was thinking of buying silver as an investment, but it's clearly not a very good one over the short term considering the minting and buy/sell premiums.
I don't understand the mentality of hoarding precious metal for economic collapse. What would i want to do this silver if the world as i know it came to an end? In an economic collapse system i would be far more likely to use skills like building and farming to barter for what i needed.
Also - i absolutely cannot see a total economic collapse in the forseeable future.
There was an interesting economics program on CBC radio the other day: The invisible hand. Basically they speculate about the value of chicken vs. the value of silver in an economic collapse - the chicken proved to me more valuable.
-------------------- GO OUTSIDE.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,445
Loc: city of angels
Last seen: 20 minutes, 14 seconds
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Re: Buying Silver [Re: PDU]
#16491549 - 07/06/12 06:08 PM (11 years, 7 months ago) |
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Quote:
PDU said:
I was thinking of buying silver as an investment, but it's clearly not a very good one over the short term considering the minting and buy/sell premiums.
I don't understand the mentality of hoarding precious metal for economic collapse. What would i want to do this silver if the world as i know it came to an end? In an economic collapse system i would be far more likely to use skills like building and farming to barter for what i needed.
Also - i absolutely cannot see a total economic collapse in the forseeable future.
There was an interesting economics program on CBC radio the other day: The invisible hand. Basically they speculate about the value of chicken vs. the value of silver in an economic collapse - the chicken proved to me more valuable.
I agree with everything you just said.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 2 days, 19 hours
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Re: Buying Silver [Re: PDU]
#16495758 - 07/07/12 03:46 PM (11 years, 7 months ago) |
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Quote:
PDU said:
Quote:
Sobercolober said: Are you buying this as an 'investment' to earn or as a 'safe haven' for money if/when the global baking system goes down the crapper ?
I was thinking of buying silver as an investment, but it's clearly not a very good one over the short term considering the minting and buy/sell premiums.
I don't understand the mentality of hoarding precious metal for economic collapse. What would i want to do this silver if the world as i know it came to an end? In an economic collapse system i would be far more likely to use skills like building and farming to barter for what i needed.
Also - i absolutely cannot see a total economic collapse in the forseeable future.
There was an interesting economics program on CBC radio the other day: The invisible hand. Basically they speculate about the value of chicken vs. the value of silver in an economic collapse - the chicken proved to me more valuable.
Silver is a good investment when currency debasement is taking place, which is occurring today in all major currencies.
Silver does not need a economic collapse to rise in value, silver went from $4 to $49, and now at $27.
I agree, food and skills have the most value in a economic collapse, investors buy silver for a store of value, something that paper currency can not provide today.
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Sobercolober
Tuft checker



Registered: 09/23/10
Posts: 995
Loc: EU
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Re: Buying Silver [Re: qman]
#16514430 - 07/11/12 01:35 PM (11 years, 7 months ago) |
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In all countries where there has been financial collapse the value of silver and gold have literally skyrocketted 1,000's of percent. I am not an expert but it is pretty well documented online. This is usually accompannied by war.
But tins of beans are going to be more valuable if the crap really hits the fan. I am not convinced myself that the existing financial system will be able to continue to work as is.
I hope for the best.
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DieCommie

Registered: 12/11/03
Posts: 29,258
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It skyrockets 1000's of percent against the value of the collapsing currency, not against other commodities.
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Asante
Mage


Registered: 02/06/02
Posts: 87,000
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Its more liquid than most other commodities though. Lets say you own land as an investment. You cant just at the drop of a hat sell a fraction of the land, have it bought and got monies. With gold and silver, the day you offer your coins or bars is the day you make the sale.
Actually though if the currency is devaluating, the rich will pay big premiums to get physical metal, so it rises above inflation too.
Actual bare-butt-in-the-mud kind of collapse is not very likely on the immediate short term, but a series of smaller crises is. You can make a killing buying stocks on the day of the crash, for pennies on the dollar.
-------------------- Omnicyclion.org higher knowledge starts here
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Lana
Head Banana


Registered: 10/27/99
Posts: 3,109
Loc: www.MycoSupply.com
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Re: Buying Silver [Re: demiu5]
#16518886 - 07/12/12 09:37 AM (11 years, 7 months ago) |
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demiu5 said: there is also "collector" value to coins, but i don't keep much stock in that, strictly silver prices. when shit hits the fan hard and undeniably, collecting and collector value won't mean a thing
I understand this concept. But remember, that now is a buyers market for precious metals. If in the case that the shit hits the fan and you have silver. Think of this...
Pretend that you no nothing about silver (which most people don't) and two people walk up to you that want to sell you their silver. One person has a metallic bar that has a few numbers on it and looks worn (junk silver) and the other person has minted American Silver Eagle or Silver Canadian Maple Leaf. Even though you know nothing about silver, your instincts should tell you that a minted coin has less of a chance of being fake. A minted coin isn't a lead bar covered in silver or a tungsten bar covered in gold.
Again, I completely understand why people are attracted to buying junk/bullion but in times, good or bad, coins are always easier to sell.
Just my 2 cents
Lana
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