22k In Dry Powder

You have to be careful, using emergency cash and the credit card to buy PM can be dangerous and result in a large set back.

I'm not knocking your decision just voicing a concern.

Good Luck

If your CC interest rates is like 1.9%, I would take that chance.

PM is very volatile as many are well aware. I would also be against it if you can't pay back within a modest time frame, like within 3 months. Interests will eat up your profit.

Wow!
Excellent. Where in the world you get cards like that? Which bank offers it?

Cool just so you know what you are doing.

Something to reflect on leading up to the great depression.

Speculators bought stocks with money they barrowed. Then they used those stocks as collateral to buy more stock. So if that person could not repay the loan, they would forefit their stocks. The total amount of money given out by loan brokers went from $5 Million in mid 1928 to $850 Million in September of 1929. The stockmarket was based on barrowed money and the stocks values were not accurate.

This way of buying stocks attracted the less wealthy. It allowed investors to purchase a stock for only a fraction of its price and barrow the rest. The brokers then charged high interest and could demand payment of the loan at any time. But on the other hand, if the stock went up, you could pull your money out to pay off the loan and interest charges and still make money. This contributed to the Great Depression because the majority of people were not wealthy. So when the maket high, everyone pulls out to make money and pay off loans, it sends the market down.

It was just too easy to make money or at least it appeared. Thus the real loser in the market was the regular middle class and the poor.

Thar he blows! Like a hump a snow hill, its 1700 gold!

http://cgi.ebay.com/ws/eBayISAPI.dl...TRK:MEWNX:IT

just added this one, got it for $397 after rebates, puts the tally close to 40oz so far.

Exactly right. This is called "buying on margin" and it allowed an investor to put down 5% of the cost of 100 shares of a stock and borrow the other 95% from the broker. As long as stocks were rising, everyone was making easy money. Unfortunately, nearly everyone was doing this in 1928-29 but few actually understood what it meant to have only 5% skin in the game. They found out when their shares dropped 5% and their investment was completely wiped out. This started a self-feeding cascade that simply got worse and worse as more and more investors got sucked into the expanding financial whirlpool.