| Author |
 Replies: 56 / Views: 5,560 |
|
|
|
Pillar of the Community
 United States
757 Posts |
agree ^^
on the other hand, if you only have a small amount of debt not attached to any of your personal property, say maybe 2-5k in credit cards,
then let it ride for a bit until we figure out whether we're going to see hyperinflation or no.
as long as your rate isn't adjustable, in this scenario, then hyperinflation would be a godsend for small debts like that. it'd help with ALL debts, of course, but the question is whether you'll even be able to get a job if things go to hell.
|
|
Pillar of the Community
United States
2541 Posts |
I wish I had a clue. I thought $20 silver was expensive, then it shot up to $28. I'm just going to $ cost average and buy some every now and then and not think about the price. If it goes to $30 I'll probably take some profits off the table.
|
|
Pillar of the Community
United States
2424 Posts |
i just spent the last 20 min looking back at all the SILVER I found at the banks this past year and how I sold them off immediately... I'm kicking myself!! I wish I could of held on to it...
|
|
Pillar of the Community
United States
4989 Posts |
Generally if you have a good source of income, you want to pay down those high interest credit cards first. If hyperinflation occurs, the banks will simply raise the rates proportionally.
If, however, you have no source of income it probably makes more sense to pay your mortgage and car first since credit debt can be wiped out in a Chapter 7 bankruptcy but the only way to keep your car/home is to stay current on payments.
|
|
Valued Member
75 Posts |
I wonder if it'll go to thirty. wouldnt be surprised. I have a lot of junk silver pulled from circulation at face.  |
|
Pillar of the Community
United States
757 Posts |
interesting, fenton.
so you're suggesting paying credit cards down before hyperinflation or no?
i mean, even if they raised it to a 100 percent interest rate and you've got 2grand on a credit card, in hyperinflation a common workman may well be making 500/1000 a day or something.
|
|
Valued Member
United States
463 Posts |
back up we go, now at 27.02
|
|
Pillar of the Community
United States
508 Posts |
As a way to control my investment in silver I buy only an ounce every 2 weeks. I'm lucky I bought a good chunk of 90% when it was still $18, and again at 22-23 an OZ. Too bad I wasn't into precious metals back when I was 15/16, all that wasted money! >.<
|
|
Valued Member
United States
98 Posts |
Quote:
Generally if you have a good source of income, you want to pay down those high interest credit cards first. If hyperinflation occurs, the banks will simply raise the rates proportionally. Or just don't open any credit cards in the first place. I don't have a credit card because I'm not stupid and don't buy things I can't afford. |
|
Pillar of the Community
United States
508 Posts |
Quote:
Or just don't open any credit cards in the first place. I don't have a credit card because I'm not stupid and don't buy things I can't afford. Agreed! |
|
Valued Member
United States
463 Posts |
debit cards are the way to go, use only what you got
|
|
Pillar of the Community
United States
3592 Posts |
My credit card is paid in full each month...and a 1-3% rebate in BassPro bucks...so technically I'm making money
|
|
Pillar of the Community
United States
1450 Posts |
I'm with you Maineman,paid off every month. I get to use someone else's money free for a month and then I get rewards points. I had 3 free hotel nights on my last week long vacation thanks to the reward points and they didn't cost me a cent!
|
|
Bedrock of the Community
United States
14454 Posts |
The price will usually drop around the first of the year as well. It being close to Christmas may be a reason for the price dropping also because maybe some of the people usually buying is keeping their extra money for presents
|
|
Pillar of the Community
United States
2600 Posts |
Read an article that really piqued my curiosity so want to ask a question. Has the run-up of gold changed your investment strategy between silver and gold? The article speculated that silver will see gains vs gold as the avg investor can come up with $4/500 much easier than $1,400. So, the guy who would have gone out and purchased an ounce of gold at $500 is now buying $500 in silver. Has the cost of gold priced you more into the silver market?
Jim
|
| |
Replies: 56 / Views: 5,560 |
First Page
Previous Page
Posted 11/18/2010 11:43 am
