A "Wannabe" Economist's Perspective

Thanks DVC,that cartoon says it all. I may use it as an avatar somewhere.

Imagine, a single tulip bulb being traded for a small fortune? Probably the all-time classic bubble.

photoeric21, thanks for repeating the advice I have given all along (without the bells and whistles) but I think most of our members are speculating within their means and that is a good thing.

photoeric21,

Very well thought out and interesting thread.
By me, not a rant at all. It is healthy to have these discussions
that is how we learn is from the exchange of ideas.

There are some on here in different threads
that have mentioned some very core
reasons for the sudden shift in value of gold and silver.
One is an entire almost 40 years of people being made to believe
that gold and silver are just an industrial commodities
since it was totally separated from our currency
when Nixon was in office.
When for the thousands of years gold and silver
was money.

Now around the planet stories are coming out almost weekly
about this huge institution (University of Texas)
or that Country (China, Mexico and more) are taking physical
delivery of Billions in gold or silver.
Major Corporations (JP Morgan) being caught manipulating
the silver market in artificial price suppression schemes
which helps prop up the value of the current fiat currencies
that are at this time in use around the planet.
Of which the U.S. Dollar is the reserve currency of the planet
And there is now calls from around the globe to replace
the Dollar as the reserve currency from places like
the United Nations and the International Monetary Fund.
People are unsure of what will come with a fiat currency
crash. Leading them to want what has been a store of
value for centuries gold and silver. And when you see the large
institutions and Countries heading that way. My feeling is
Something is in the works.

Nobody has had to live through an event like a fiat currency crash
and most of the country is totally unaware of what we take
for granted here on this forum every day

That is just a couple of core fundamentals I have seen
that lead me to buy the amount of silver that I do.
Plus the fact that ALL money I put into silver is my hobby
money. Which is one of the cheaper hobbies I have had in my
life. It was not too long ago that I used to collect
70's Trans Ams and Firebirds. Talk about burning cash
Could have had a bon fire
And I recommend to my friends to do no more than sock
some physical away from totally discretionary funds.

Terry

In the end isn't every financial adviser just making an educated guess? (Just my 2 cents)

This isn't completely true Ed. As a matter of fact I shouldn't probably tell you this but an older version of myself stole another guys DeLorean and travelled back in time to give me a 21st century sports almanac. Because of this very reason I didn't put any money on my Minnesota Twins to win the AL Central this year.

lol! I guess I set myself up pretty good for that one!

Aye, that they are, laddie. On the other hand, a lot of decisions get made via uneducated guess work too. Perhaps by that comparison, financial advice looks a little more reasonable.

Here's another fact about investing and managing money. Nobody cares more about your money or your financial success than you do. Because of this, we all need to learn as much as we can about these topics so that we can successfully do our own financial planning. In the long run, it will work out much much better. It really isn't all that difficult. What it mostly is, is time consuming. But spending your time in this way is one of, if not THE, most profitable ways to use your time.

Most people are WAY better at earning money than they are at managing it and making it grow. If you can develop a sincere interest in this subject, you will be able to learn all you need to know to do it very well. It is not rocket science. It can be learned by most people who are interested enough to spend the time on it. Consider it a challenge!