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Thread: Hope for the best but prepare for the worst

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  1. #1
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    Nov 2017
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    Default Hope for the best but prepare for the worst

    Over the many years I have been investing in gold and silver, I have come to the realization that anything good or bad can happen at any time so it's best to be prepared for disaster. I wouldn't be surprised if within the next month (or even week) that silver crashes to fifteen an ounce and that gold goes to 1500. My gold mining fund could easily decline 20% or more from here. The broader stock market - Why not another Great Depression where the market crashed almost 90%? Will the government nationalize my mining and global resource funds? Again, why not? Will they attempt to outlaw or even confiscate my gold and silver coins? I really wouldn't be surprised at anything that happens. I am not leveraged on any of my investments, so even if the prices go way down I know that it will be temporary and I might even be able to pick up more coins and shares on the cheap. What are your worst case concerns?

  2. #2

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    Quote Originally Posted by aberdeen View Post
    Over the many years I have been investing in gold and silver, I have come to the realization that anything good or bad can happen at any time so it's best to be prepared for disaster. I wouldn't be surprised if within the next month (or even week) that silver crashes to fifteen an ounce and that gold goes to 1500. My gold mining fund could easily decline 20% or more from here. The broader stock market - Why not another Great Depression where the market crashed almost 90%? Will the government nationalize my mining and global resource funds? Again, why not? Will they attempt to outlaw or even confiscate my gold and silver coins? I really wouldn't be surprised at anything that happens. I am not leveraged on any of my investments, so even if the prices go way down I know that it will be temporary and I might even be able to pick up more coins and shares on the cheap. What are your worst case concerns?
    My worst fears are political and less economic. But then again if the communists take control then any economic issues will be solved too. You will own nothing and you WILL be happy. (or else!) This country was founded on the rule of law, where a crime is committed and then the police find who did it. Today, it seems we are turning into a third world nation of where "show me the person and we will find the crime he's guilt of" has become the norm. Once the rule of law is lost then all else is lost too.
    American Legion Preamble: https://www.legion.org/preamble

  3. #3

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    The problem is that just about any disaster I can think of PMs are not the best answer. You may knee jerk into the whole "what if dollar collapses yada-yada-yada". Trust me, you'll be worrying about the exact same thing you were worrying the day before; earning a living and staying safe. That is; unless your idea of weathering the crisis is to burn through your wealth, at which point I guess owning PMs will be useful.

  4. #4

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    I think of silver as a speculative investment that is sort of double duty, potential big gains and wealth preservation against the dollar. I think of gold only as wealth preservation against the dollar.

    I used to think we live in a government that won't confiscate, or "call in" the gold. However, after everything I've witnessed with lawless Democrats nothing, I mean NOTHING, would surprise me anymore.

    As far as the question in the OP, my biggest concern is the lawlessness of Democrats. I could write five pages on that. However, just look what has happened since Biden stumbled into the White House.
    Metals are for Investors who take more risk with what’s Real, and less with what’s not. Author unknown

  5. #5

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    Quote Originally Posted by WhackNStack View Post
    I think of silver as a speculative investment that is sort of double duty, potential big gains and wealth preservation against the dollar. I think of gold only as wealth preservation against the dollar.

    I used to think we live in a government that won't confiscate, or "call in" the gold. However, after everything I've witnessed with lawless Democrats nothing, I mean NOTHING, would surprise me anymore.

    As far as the question in the OP, my biggest concern is the lawlessness of Democrats. I could write five pages on that. However, just look what has happened since Biden stumbled into the White House.
    Agree with that. Silver has more potential % wise than gold...though gold is more stable for wealth protection, and easier to store.

    Silver could be $11 or $50 in the next 12 months...you don't see that kind of volatility with gold.
    Politicians and diapers must be changed often, and for the same reason. -Mark Twain

    The purpose of life is to matter, to be productive, to have it make some difference that you lived at all. -Leo Rosten

  6. #6

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    Quote Originally Posted by Miteysquirrel View Post
    Agree with that. Silver has more potential % wise than gold...though gold is more stable for wealth protection, and easier to store.

    Silver could be $11 or $50 in the next 12 months...you don't see that kind of volatility with gold.
    I think it likely a switch is thrown and the masses will realize they need to protect their money. When they do, gold will be out of reach for the great unwashed and silver will be the obvious substitute... Once the heat is on, the heat is on.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

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