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Investing In Paper Silver

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Pillar of the Community
Ed_B's Avatar
United States
4008 Posts
 Posted 08/20/2012  8:09 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
Good way to make money trading stocks terrible doomsday back up plan

Agreed!


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My Two Cents, I wouldn't touch paper silver with a million foot pole. If you are interested in PMs, buy them physical.

We all have that option and most of us make the most of it that we can. That said, anyone who has an IRA or a 401K plan *might* be able to invest some of that money in a silver or gold ETF but not in physical metal. In such cases, they think that investing in metals via ETFs is better than investing in stocks and bonds. As with a lot of things in the area of PMs and investing, there are many choices that can be made. There is nothing wrong with choosing what best fits your particular financial situation.


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I know they say that they have back ups but...

Yes, that is what they say, and it is quite probably true. That said, there is no absolutely guaranteed method of handling a real SHTF situation in advance because it could be virtually anything... anything at all... including a space rock hitting the Earth and blowing it to gravel... Alderan style. In this case, NO amount of planning on our parts is going to matter one bit. Lesser problems than this may be handled in various ways. Some of these ways will be better than others but until we know the exact nature of this particular SHTF scenario, nothing definitive can be said about it. About all that we can do is prepare in a general way for that which seems most likely and then let the chips fall where they may. Just remember that ANY prep will beat NO prep by leaps and bounds.


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So are we talking about investing or an end of the world plan here?

It IS getting difficult to tell, isn't it?


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I'm reminded of an old wall street guy named Art Cashin who always says you can't invest for the end of the world because it will only happen once and well...that's the end lol. Or it was sometime like that.

Yeah, that is pretty good. I've watched Art Cashin on CNBC for a lot of years and he is quite a character. 40+ years of experience on Wall Street means that he's pretty much seen it all by now.


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Ed good to know about the LLC thing for IRAs.

Yes, it was quite an eye-opener for me as well. I just learned about this over at Silver Docs about a month or so ago. It sounds like a really excellent way of getting one's wealth OUT of the criminal banking system, which is looking better by the day.


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