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Thread: Good to have dry powder

  1. #1

    Default Good to have dry powder

    A few months ago, when Silver dropped, I made money, but only managed to get half of my cash into silver before it rebounded. My mistake was to hope to try to hit the rock bottom. I managed to get a little down there, but it rebounded too quickly.

    Following my new strategy, I started buying into the silver dips (and Gold, coincidentally) when it was 632 GBP per kilo. Just now it is 561 GBP (to buy). I looked at my purchase history and, happily, I'm buying more heavily as it goes down. That does help to bring my average purchase price down.

    Hopefully it will drop a bit more today and I can get another chunk of the shiny stuff.

    Who knows what will happen this time. But I feel safer to own shiny stuff then I do holding GBP, considering the sad state of my country of birth.

  2. #2

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    Good luck to you - from a British expat living in the States.

    It's 'always' good to have dry powder. Just in case. I bought 60 silver eagles last week, and despite the price drop, still feel good about it. I'll be buying more soon, for sure.

    How's the austerity plan going on back in ol' Blighty? My family tells me there have been huge numbers of layoffs in the public sector. Over here, the Fed is printing money like there's no tomorrow (maybe there won't be?) and every month our dollars are worth less. What a situation. I think by the end of the decade there will have been a revolution in the USA.

    Keep on stacking, and all the best.

  3. #3

    Default

    Quote Originally Posted by Mr Grace View Post
    and every month our dollars are worth less. What a situation. I think by the end of the decade there will have been a revolution in the USA.

    Keep on stacking, and all the best.


    Dollars worth less? Uh dollars have rebounded strongly and hence cheaper gold and silver. Cheaper pms and a stronger dollar to me means more pms for my dollar. To be all in in silver without dry powder is foolish. I wouldn't even recommend owning silver to anyone if you are well balanced with gold vs the dollar.

  4. #4

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    Yes, that's what's happening right now but it is very short term. Very short term. Haven't your utility bills gone up in the last 5 years? The cost of a new car? A vacation? If you make the same income as you did 5 years ago do you think you would be better off or worse off today? This is all short term stuff what we're seeing right now. Over the years all FIAT currencies lose their value.

  5. #5

    Default

    Quote Originally Posted by Mr Grace View Post
    Yes, that's what's happening right now but it is very short term. Very short term. Haven't your utility bills gone up in the last 5 years? The cost of a new car? A vacation? If you make the same income as you did 5 years ago do you think you would be better off or worse off today? This is all short term stuff what we're seeing right now. Over the years all FIAT currencies lose their value.
    I agree it's short term all the reason to not get excited. If you believe it's short term then pms are on sale and a great way to capture what is perceived to be strength in the dollar.


    Utility bills-only my gas, internet, cell and cable have gone up. I'm on a well and my electricity is offset with solar. Cost of car? All my cars are paid off. Grow most of my own food. Income has gone up. Been able to raise all my rents over the last 24 months.

    I love recessions.

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