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Anyone investing in Silver? - 8/15/2009 2:50:05 AM
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IamLibertarian
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I have just come to realize what an important commodity Silver really is, especially in uncertain economic times. I am a big, small time investor, and have just made my first purchase today. I bought twenty ounces of silver (cost me about $320ish), and will be buying about 10 ounces per week (assuming my continues to allow for it) until it reaches $20/ ounce, then I will be holding and waiting.
Anyone else into silver or other Bullion?!
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RE: Anyone investing in Silver? - 8/15/2009 12:55:48 PM
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allisonbrett
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Dave Ramsey suggests NEVER investing in precious metals. He explains his position very clearly and after evaluating it, I say I agree.
So, to answer your question, no I have no interest.
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Allison
A work in progress so please be patient, God is still working on me. Ouch, it sure is painful!
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RE: Anyone investing in Silver? - 8/15/2009 1:58:59 PM
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IamLibertarian
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Do you have a specific website I can watch/read this on? I have heard from MANY "qualified" and leading investors that silver is more than just a premium investment, it is pure security.
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RE: Anyone investing in Silver? - 8/15/2009 2:14:23 PM
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IamLibertarian
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I just did some research on this, and I will accept what Peter Schiff has to say over Dave Ramsey.
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RE: Anyone investing in Silver? - 8/15/2009 2:39:47 PM
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allisonbrett
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Investing in Precious Metals
You are, of course entitled to follow whomever advice you wish to. Many I have heard discussing investing in precious metals refer to other avenues as much better return on investment (ROI) I've heard it equated with dealing in speculation as oppsed to something a bit more concrete and predictable.
I wish you well in your investments.
_____________________________
Allison
A work in progress so please be patient, God is still working on me. Ouch, it sure is painful!
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RE: Anyone investing in Silver? - 8/15/2009 3:05:10 PM
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IamLibertarian
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Aren't all investments speculative?
I am speculating that silver prices will increase in the near future, hence, I will be purchasing silver today in hopes of positive returns.
I used to have respect for Dave Ramsey, in fact I own a few of his books, but after that Blackjack analogy I am quite baffled.
What investments are not speculative? Gov't Bonds? No thank you.
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RE: Anyone investing in Silver? - 8/15/2009 3:21:43 PM
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NINEA
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All investments are speculative to some extent. Most people tolerate more risk when they are young--I never could; felt like gambling.
Dave Ramsey also has a podcast, if that interests you. Clark Howard has some interesting advice as well.
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RE: Anyone investing in Silver? - 8/15/2009 3:30:50 PM
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IamLibertarian
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I will check out Clark Howard, I've never heard of him.
I'm young, I have a little bit of money every month that I can commit to investing (better than taking it to the casino, which I would otherwise do), and I don't mind "gambling" with silver or in the Stock Market as long as I do my research. Really, I'm open to ANY investment opportunity, as long as it's legit, it makes sense, and the risk/reward ratio is to my liking.
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RE: Anyone investing in Silver? - 8/15/2009 4:56:22 PM
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clydewolf
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For many years as he pupblishes the monthly financial news letter Sound Mind Investing, Austin Pryor has not recommended investing in precious metals. The idea is that "gold" has kept up with inflation, and nothing more.
Taking a look at the current financial position of our government's ability and desire to print the money it needs to meet the whims of those in charge it is a possibility we face a period of hyper inflation ahead. With that in mind the editors at Sound Mind Investing in the August 2009 issue have said this, "...What I have shared this far is not to say hyperinflation is necessarily coming, but rather to alert you to the possibiliy. ....giving the spending ambitions of the Obama administration and congress, we cann't completely rule it out. And so the question arises, "How does one prepare for such a possibility?""
SMI sees 2 types of investments for the gold trader:
- Gold oriented Exchange Traded Funds.
- Mining companies and mutual funds.
In their next issue SMI will be looking more at these 2 types of investments and at a gold trending system. The next issue will be published later this month. You can learn more about SMI at:
http://www.soundmindinvesting.com/index.1.php
I know this goes a bit off topic, but both silver and gold are among the precious metals we have in this world.
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RE: Anyone investing in Silver? - 8/17/2009 2:41:40 PM
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blessedinnyc
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quote:
ORIGINAL: tuckonline
I will check out Clark Howard, I've never heard of him.
I'm young, I have a little bit of money every month that I can commit to investing (better than taking it to the casino, which I would otherwise do), and I don't mind "gambling" with silver or in the Stock Market as long as I do my research. Really, I'm open to ANY investment opportunity, as long as it's legit, it makes sense, and the risk/reward ratio is to my liking.
Then I would suggest that you can probably do better with equity investing in gold or silver miners. At least, that's what I do.
If you want, we can talk about why Peter Schiff's advice isn't necessarily great for individual investors with less than $1,000,000 to invest or whether it makes sense to put gold or silver in your portfolio.
Schiff is betting on gold because of inflation and a decline in the value of the dollar. If that's the case, I'd go for a US-based Hotel REIT that carries an internationally recognized hotel chain. Cheap dollar= more tourists in the US. Inflation= increased real-estate values. I think you've got about three or four good choices in the US; just try to find a company that can survive another economic downturn.
< Message edited by blessedinnyc -- 8/17/2009 2:50:25 PM >
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RE: Anyone investing in Silver? - 8/17/2009 2:56:16 PM
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blessedinnyc
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quote:
ORIGINAL: allisonbrett
Investing in Precious Metals
You are, of course entitled to follow whomever advice you wish to. Many I have heard discussing investing in precious metals refer to other avenues as much better return on investment (ROI) I've heard it equated with dealing in speculation as oppsed to something a bit more concrete and predictable.
I wish you well in your investments.
I will be the oddball here and disagree with Dave.
For the 5-10% of the population who are truly paranoid about the end of modern civilization or capitalism, a small chunk of gold or silver (up to 5% or maybe 10% of the person's liquid net worth) buried in the basement is an ok investment as part of a defensive portfolio that will still be able to prepare them for retirement.
The income derived from the gold comes in the form of better sleep for these people. Gold may lose value because people no longer care about shiny objects, but it won't lose value because the feds go bankrupt, there is a war with China, or because there is a communist revolution (something that practically all other investments will suffer dramatically from). Some people need the comfort that they won't lose everything if the unthinkable happens. For those people, a little gold may be an appropriate investment.
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RE: Anyone investing in Silver? - 8/18/2009 6:15:27 PM
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IamLibertarian
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quote:
ORIGINAL: ChristianAttorney35
Interesting article about how Warren Buffett once bought up almost 37% of the world's above ground silver supply.
I'm not sure you could do the same thing with gold - which makes manipulation of silver prices easier to do that with gold.
http://www.time.com/time/magazine/article/0,9171,138593,00.html
I haven't read that exact article, but I will. I heard about this though. I think he bought it when it was at $6/ oz? Maybe $4/oz though, but that seems a little low. But yes, silver can be manipulated, and gold can as well, just by governments more so than individuals.
But really, any commodity can be manipulated at any time. Heck, our USD is manipulated every single day, and so is every other currency on the FOREX. In reality it is all just speculation on who and how and what is going to be manipulated.
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RE: Anyone investing in Silver? - 8/18/2009 8:39:39 PM
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Pamsy
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What's brass worth?
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1 Chorinthians 13 vs. 4-8. Love is patient, love is kind.......Love never fails."
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RE: Anyone investing in Silver? - 8/18/2009 8:53:38 PM
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clydewolf
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quote:
ORIGINAL: blessedinnyc
Some people need the comfort that they won't lose everything if the unthinkable happens. For those people, a little gold may be an appropriate investment.
I prefer to have my trust in our Lord.
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RE: Anyone investing in Silver? - 8/18/2009 10:57:48 PM
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blessedinnyc
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quote:
ORIGINAL: clydewolf
quote:
ORIGINAL: blessedinnyc
Some people need the comfort that they won't lose everything if the unthinkable happens. For those people, a little gold may be an appropriate investment.
I prefer to have my trust in our Lord.
Yes, but some would say it's still easier to sleep if you're pretty sure it's not God's will for your family to go hungry.
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RE: Anyone investing in Silver? - 8/23/2009 3:30:26 AM
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IamLibertarian
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quote:
ORIGINAL: clydewolf
quote:
ORIGINAL: blessedinnyc
Some people need the comfort that they won't lose everything if the unthinkable happens. For those people, a little gold may be an appropriate investment.
I prefer to have my trust in our Lord.
Well, the Lord gave you a brain, so use it. Do your research and come to your own conclusions. That's what the Lord would want, imo.
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RE: Anyone investing in Silver? - 8/27/2009 5:43:52 PM
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bricole77
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I think you're investing wisely. Im sure your familiar with Robert Kiyosaki and his teachings about the cash flow quadrant. As he says "bet against the u.s. dollar."
Blessings
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~*britanni *~
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RE: Anyone investing in Silver? - 8/28/2009 12:27:10 AM
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Joetta1
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Your best bet is to go with silver. Silver is currently very very low and easy to buy and obtain, your should invest in actual silver and not certificate, considering those are just paper and nothing more. silver is much cheaper than gold and with the price continuing to drop it will eventually sky rocket at some point, hopefully once you own some yourself. good luck.
< Message edited by Ps103 -- 9/1/2009 9:44:45 AM >
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RE: Anyone investing in Silver? - 8/28/2009 12:55:25 PM
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blessedinnyc
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quote:
ORIGINAL: bricole77
I think you're investing wisely. Im sure your familiar with Robert Kiyosaki and his teachings about the cash flow quadrant. As he says "bet against the u.s. dollar."
Blessings
Kiyosaki isn't the most reliable source of financial information:
http://www.johntreed.com/Kiyosaki.html
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RE: Anyone investing in Silver? - 9/6/2009 12:12:13 PM
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ekserekseez
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I've invested in silver for years. After buying some ingots, you may want to branch out into worked silver: sterling tea and coffee sets, objets d'art, etc. These often have additional value either as works of art or as antiques. Plus, they're more interesting to view.
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RE: Anyone investing in Silver? - 9/6/2009 1:19:16 PM
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ekserekseez
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The silver is really more of a hobby than anything. I have some platinum too, but there's much less to display.
Precious metal are probably not what you want for your primary investment.
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