Hope for the best but prepare for the worst

[aberdeen]

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?

[LongDonSilver]

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.

[DBCooper]

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.

[WhackNStack]

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.

[Miteysquirrel]

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.

[t00nces2]

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.

[LongDonSilver]

I recently viewed a Youtube video regarding Argentina's inflation, something that I hadn't been following prior to this video. I knew Venezuela was screwed, but hadn't heard much about Argentina.

See: https://www.youtube.com/watch?v=SLh2gYbf-NM&t=1s

Part of what I took from the video was the amount of debt that they have built up and the problem of paying it all back. If one projects the debt of the USA over this situation that they find that they are in and guess what could (could, not has to happen) to the USA then perhaps people would wake up fast. Note: their answer to the peso tanking is to conduct business in US$'s, which is a problem looking for a place to happen too, IMHO.

[t00nces2]

I recently viewed a Youtube video regarding Argentina's inflation, something that I hadn't been following prior to this video. I knew Venezuela was screwed, but hadn't heard much about Argentina.

See: https://www.youtube.com/watch?v=SLh2gYbf-NM&t=1s

Part of what I took from the video was the amount of debt that they have built up and the problem of paying it all back. If one projects the debt of the USA over this situation that they find that they are in and guess what could (could, not has to happen) to the USA then perhaps people would wake up fast. Note: their answer to the peso tanking is to conduct business in US$'s, which is a problem looking for a place to happen too, IMHO.

I have posted this before, but there is a blogger who blogs about Argentina and has a book about it. There is also information an his site...

SURVIVING IN ARGENTINA

https://ferfal.blogspot.com/

Seems he has a bunch of stuff on youtube...

[capsule]

havent been around in a while, one thing i remembered from those argentina inflation discussions was that things like toilet paper were scarce so i threw an entire costco pack of tp in a closet and forgot about it. during the covid tp scarcity situation that package came in really handy..

[windweaver77]

I always purchase non-perishable goods like that in bulk. Inflation has been a thing for many moons.