Thank you for the opinion. I am torn between investing into gold/silver or traditional mutual/index funds.
Thank you for the opinion. I am torn between investing into gold/silver or traditional mutual/index funds.
I think the gold/silver play is more if you're worried about an eventual currency collapse and/or hyperinflation. Mutual/index funds seem to track gold/silver fairly well with regards to moderate inflation, but are less volatile than metals. Me thinks we're riding a razor's edge between inflation and deflation (stagflation - see K. Bass' million dollar play in nickels - hedged both ways).
Point being, I'd strongly consider keeping a large portion (40-50% perhaps) of your savings in cash and the rest in a mix of financial instruments, with some in metals. That way, you're not wiped out in either event. My little two cents.
Financial "paper (stock certificates, cash, bonds, T-notes, etc.)" CAN be an essential part of prepping. When markets crash, they can double as toilet paper...
- Either you're part of the problem or you're part of the solution or you're just part of the landscape - Sam (Robert DeNiro) in, "Ronin" -
Be conscious that windfall taxes may appear for precious metals owners.
Spain Cracks down on Cash Transactions
Have you given thought of what you will convert your holdings into in the event of a similar law passing in the US? Would you choose to hold out or depend on value in a black market?
Gold's goin to 1500-1550. Silver will go to 24-26. This is your buying opportunity. I will be picking up /GC and /SI when that happens.
Wait and see. Coming this fall to a stock market near you.
2500 euros is about $3300.00 dollars at the moment. I'm not sure of the exact amount (5K?), but there's already a reportable threshold in the US when selling PMs. This is why fractional gold and silver should be considered. They're much easier to sell while staying beneath the radar. It's all a real pain in the ass if you're trying to protect any significant wealth (e.g. 50K or more).
Hate to sound like a defeatist, but you're going to have to get up early and work damn hard to beat the bankers. For ****'s sake, they just crashed the financial system and received taxpayer bailouts in the trillions of dollars and NO ONE (Madoff doesn't count) has gone to jail. Corzine (MF Global) "vaporizes" over a billion dollars and he's not in jail and nobody shot him. It's like everyone's asleep... and I need another beer.
Praise be to the LORD my Rock, who trains my hands for war, my fingers for battle. Psalm 144:1
Owner of MI-TAC, LLC .
@MichiganTactical
COFFEE, GAS, COLLEGE TUITION: Here's A Look At Everything Priced In Gold
http://www.businessinsider.com/every...stamp-prices-1
just a few graphics
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