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 Replies: 111 / Views: 11,052 |
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Pillar of the Community
United States
561 Posts |
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Bedrock of the Community
13014 Posts |
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t's hard to jiggle with both hand (paying down debt and accumulate asset at the same time). What would you do if you are in my shoe? I would pay down the debt first as well. The debt will cost you more long term from interest and the sooner you can get out from under it the better. |
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Valued Member
United States
410 Posts |
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"It's hard to jiggle with both hand (paying down debt and accumulate asset at the same time). What would you do if you are in my shoe?" Pay off all debt except your house before buying another ounce of silver. Paying off debt has a guaranteed rate of return equal to the interest rate you are paying. |
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New Member
United States
34 Posts |
Is silver likely to go lower or did it hit the bottom?
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Bedrock of the Community
13014 Posts |
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Is silver likely to go lower or did it hit the bottom? If everything stays the same its likely to keep pushing lower barring some major events |
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Pillar of the Community
United Kingdom
616 Posts |
Pay off debt. No one ever misses getting a monthly bill. Plus it reduces your monthly cash flow requirement and you can use the money you save on interest in the future to purchase assets. It takes discipline but imho it is very much worth it.
Edited by starbuxinvestor
06/20/2013 3:09 pm
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New Member
United States
34 Posts |
Do we think this is a shorter-term dip or are we going to have sub-20 silver for the forseeable future?
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Bedrock of the Community
13014 Posts |
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Do we think this is a shorter-term dip or are we going to have sub-20 silver for the forseeable future? The price has been working its way lower for close to two years now so without something happening theres nothing that points to another spike. |
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Valued Member
United States
410 Posts |
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Do we think this is a shorter-term dip or are we going to have sub-20 silver for the forseeable future? I think we could easily see silver below $20 for an extended period of time and don't expect to see $30 silver for years if not decades. The last huge boom/bust in the early 80's was followed by more than 20 years of sub-$10 silver. I'm interested to see how low silver goes before it stabilizes. |
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Pillar of the Community
United States
2764 Posts |
Thank you everyone for your input. This just solidify my thought.
Especially this great point from starbuxinvestor: "it reduces your monthly cash flow requirement and you can use the money you save on interest in the future to purchase assets"
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Pillar of the Community
Canada
3692 Posts |
I think that if you're in debt you shouldn't keep spending on things that don't improve your life. They are metal discs and we are meatbags to be perfectly honest!
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Valued Member
United States
362 Posts |
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So how's everyone feeling about the recent metals massacre? Happy or irritated? I as happy as a pig in beans ! I've just started to buy in bullion and monetary silver forms. If the Fed does what I think it's going to do, I'll be siting pretty. For the record, my suggestion is buy from now till about the next election then stop, you'll thank me !   |
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Valued Member
United States
410 Posts |
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For the record, my suggestion is buy from now till about the next election then stop, you'll thank me ! Care to share what You think the Fed will do and what events will happen after the next election that will cause you to stop buying? |
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Valued Member
United States
362 Posts |
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Care to share what You think the Fed will do and what events will happen after the next election that will cause you to stop buying? It's terribly lengthy but here are the cliff notes. The fed has printed more money than it should have, so it has to by back some just to avoid inflation. Recently, within the last two weeks, they have indicated that they are stopping up to 85 billion of buy back because it can't sustain the program. Secondly, when the printed cash in the reserves hits the markets, inflation will surge, that's a certainty. When that happens inflation will rise and major corporations will start to dive. Workers will be laid off, and with it being sooo.. close to the last recession/depression, the effects will be far more severe. In a short time the fragile housing market will be affected again causing the stock market to drop like a rock. This is why some of the richest men are dumping stocks only for the main street people to buy them, because the sheep haven't the education to understand the economy. This is in addition to years of the general population being trained to wait for their govt benefits in one form or another. Now the next election comes and uncertainty hits the stock markets as it always does, an with it a democrat is elected the foreign markets will most likely cease or at least change the US credit rating. If a republican, most likely a radical decrease in entitlement spending, causing the same effect with the housing problem resurfacing. Either way just as in the depression, PM's will be the main form of bartering/payment. In any scenario the price of PM's will definitely rise, so it's a win, win in any case. By now the price of PM's will be high enough that I won't be able to afford them so I'll have to stop buying them. I know I'm no economist, but I am 52 yrs old and have seen the cycles over and over, this time is just much worse. Also if that doesn't persuade you, I slept in a Holiday Inn Express last night. Just for the record, in the last two months I've bought about 2K worth of silver coins/bullion. I'm serious enough that I've installed a large safe just for the PM's. So I'm either  or just  , but if I'm right, I'll be  not  or  |
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Valued Member
United States
410 Posts |
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Secondly, when the printed cash in the reserves hits the markets, inflation will surge, that's a certainty I don't think you understand what the Federal Reserve is doing. The Fed is not printing physical money, they are creating new digital money and using that money to purchase mortgage backed securities on the open market. The new money is flowing into the economy on a daily basis at a current rate of $40 billion per month. When Fed wants to remove money from the economy they won't buy back anything, they will sell the securities on the open market and then remove that money from the economy. The Fed has been pumping trillions of dollars into the economy since 2008 through QE and we still aren't seeing inflation. Quote:
This is why some of the richest men are dumping stocks... I see no evidence that wealthy individuals or institutions are dumping stocks. In fact billions of dollars have been flowing into the markets sending them to record highs. Quote:
Also if that doesn't persuade you, I slept in a Holiday Inn Express last night. :) I have not only recently stayed at a Holiday Inn Express but I have Platinum status with them! ;) I had the misfortune of spending 37 nights with them in 2012 :( For the record, I sold my bullion physical silver last December (Bought at $40/oz and sold at $30 and couldn't be happier to have gotten out when I did). I normally buy $170 of VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares) through a Roth IRA every Friday but considering the beating the markets have taken over the last month I bought an extra $1000. In comparison I have purchased $100 of US Mint silver proof quarters so far this year (4 sets). Of course I am 35 and have a long timeline to invest. |
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Replies: 111 / Views: 11,052 |
First Page
Posted 06/20/2013 1:39 pm
