Reality vs. "what I used to think"
jmski52
Posts: 22,826 ✭✭✭✭✭
Food for thought. I've been into the metals off & on for many decades - for the past 12 years, more "on" than "off". I've bought some Modern Bullion right, and it shows some nice gains. Frankly, I haven't really had enough time to get actively involved in buying vs. selling in order to try and reap some profits and to cement my gains. I have had time to buy, but I stopped my ebay activities a couple years ago, and I've been pretty busy at work.
Over the years, the paradigm has changed, at least for myself. I used to be competitively-driven, trying to capture the gains while they were large and to avoid any losses if possible. My tax records show that I did pretty well, but I've paid what I've always felt were an inordinate amount of tax for the gains I worked so hard to earn. I decided to cool my jets in my pursuit of profits and to simply hold or add to the stack. I no longer worry about timing, and that approach is being rewarded handily.
The paradigm is still changing imo. I expect that all of the trends that are elucidated in Goldsaint's thread will continue for years before they are reversed, if ever. The reality is that any metal held now will be worth considerably more as we proceed into the future. I used to think that it would be cool to do what I've already done and plan to keep doing. I've bought right and added to the stack long enough to have a net worth more than I ever expected to have in my lifetime. That's the cool part, expressed in dollars. Not so impressive, if you figure out that inflation was the main driver. All I did was look at it for what it was, and take actions accordingly based on what I learned from study and experience.
The Reality that bites is that the net worth I worked hard to achieve by navigating the rocky waters of finance & investing are simply the net worth that I would have had anyway with a regular savings program in a stable, non-inflationary, non-scam infested environment. I was simply lucky enough to keep treading water and to duck when I saw the brickbats coming my way.
What about most people? Most people would laugh and shrug if I suggested that precious metals are a safety hedge and a bet against the dollar. The concept is so exotic to them that it's like a fantasy that people only talk about, and hardly ever in public. And that's the true tragedy here. Rotten finances keep alot of people from thinking for themselves and act as a disincentive for doing the right things for themselves, their families and in their career decisions as well.
Over the years, the paradigm has changed, at least for myself. I used to be competitively-driven, trying to capture the gains while they were large and to avoid any losses if possible. My tax records show that I did pretty well, but I've paid what I've always felt were an inordinate amount of tax for the gains I worked so hard to earn. I decided to cool my jets in my pursuit of profits and to simply hold or add to the stack. I no longer worry about timing, and that approach is being rewarded handily.
The paradigm is still changing imo. I expect that all of the trends that are elucidated in Goldsaint's thread will continue for years before they are reversed, if ever. The reality is that any metal held now will be worth considerably more as we proceed into the future. I used to think that it would be cool to do what I've already done and plan to keep doing. I've bought right and added to the stack long enough to have a net worth more than I ever expected to have in my lifetime. That's the cool part, expressed in dollars. Not so impressive, if you figure out that inflation was the main driver. All I did was look at it for what it was, and take actions accordingly based on what I learned from study and experience.
The Reality that bites is that the net worth I worked hard to achieve by navigating the rocky waters of finance & investing are simply the net worth that I would have had anyway with a regular savings program in a stable, non-inflationary, non-scam infested environment. I was simply lucky enough to keep treading water and to duck when I saw the brickbats coming my way.
What about most people? Most people would laugh and shrug if I suggested that precious metals are a safety hedge and a bet against the dollar. The concept is so exotic to them that it's like a fantasy that people only talk about, and hardly ever in public. And that's the true tragedy here. Rotten finances keep alot of people from thinking for themselves and act as a disincentive for doing the right things for themselves, their families and in their career decisions as well.
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.
I knew it would happen.
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I can definitely see where you are coming from. In terms of your current net worth versus your net worth without all of the scamming scum you end up in the same place. It is just a matter of how many zeroes are on the end. Unfortunately.
As far as the PMs go, i have only been at this for about a year. I see the paper gains when gold and silver pops, but I can't bring myself to got to the brick and mortar and sell. I am taking the mindset of waiting until my kids go into the brick and mortar to sell, that is the primary reason for stacking. And what those gains are 20-30 years from now is anybodys guess, but my bet is that it will be considrably more than it would be today, next month or even next year.
As far as the "system" goes, we have very limited power to instigate any type of meaningful change. So for the time being my reality is to keep stacking, and forget about it. Because the reason it is there, is for when J6P wakes up or the SHTF in the ponzi scheme of te debt markets. That is when I will take profits.
Keep stacking!
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Except for one important detail - if I liquidate it for currency, the "gains" are now taxable.
I never plan on selling any of my gold so it takes some of the angnst out of the equation. I have always viewed gold as wealth insurance. Silver I do speculate with. MJ
No angst here yet, I'm too busy to sell. I never plan on selling any substantial chunks, but never say never.
when J6P wakes up or the SHTF in the ponzi scheme of te debt markets. That is when I will take profits.
If STHTF, are you sure that you'd want to have any other type of assets? Won't paper be even more of a stretch if STHTF? Just askin.
I knew it would happen.
<< <i>I can definitely see where you are coming from. In terms of your current net worth versus your net worth without all of the scamming scum you end up in the same place. It is just a matter of how many zeroes are on the end. Unfortunately.
Except for one important detail - if I liquidate it for currency, the "gains" are now taxable.
True - but I have always chosen to fly under the radar. Does the guv know what you have? Will they know when you sell? Will they know when you bequeath it to your kids/family?
Also, the devils advocate would say that even if you didn't havethe scammers after taxes you would end up with proportionally the same net given the tax rate is the same.
I never plan on selling any of my gold so it takes some of the angnst out of the equation. I have always viewed gold as wealth insurance. Silver I do speculate with. MJ
No angst here yet, I'm too busy to sell. I never plan on selling any substantial chunks, but never say never.
when J6P wakes up or the SHTF in the ponzi scheme of te debt markets. That is when I will take profits.
If STHTF, are you sure that you'd want to have any other type of assets? Won't paper be even more of a stretch if STHTF? Just askin.
<< <i>
<< <i>I can definitely see where you are coming from. In terms of your current net worth versus your net worth without all of the scamming scum you end up in the same place. It is just a matter of how many zeroes are on the end. Unfortunately.
No angst here yet, I'm too busy to sell. I never plan on selling any substantial chunks, but never say never.
when J6P wakes up or the SHTF in the ponzi scheme of te debt markets. That is when I will take profits.
If STHTF, are you sure that you'd want to have any other type of assets? Won't paper be even more of a stretch if STHTF? Just askin.
[/
as for paper when the SHTF. I just don't think it is really a possibility to NOT have paper. Preferably I wouldn't have any. But my mother always told me not to put my eggs in one basket.
<< <i>I never plan on selling any of my gold so it takes some of the angnst out of the equation. I have always viewed gold as wealth insurance. Silver I do speculate with. MJ >>
Why not enjoy some of your gains while you can. Your Gold is going to be worthless to you, once your 6' under.
<< <i>
If STHTF, are you sure that you'd want to have any other type of assets? Won't paper be even more of a stretch if STHTF? Just askin.
[/
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When the SHTF and PMs go up in price, you will have a chance (at that time) to determine where the best place(s) to move your gains. It could be a ground floor opportunity for those who have purchased PM "insurance." While those, who have lost most of what they had in stocks, bonds, etc. try to survive, you may be in a position to purchase these assets on the cheap. The economic world may look much different than it does now. Your PM holdings give you the opportunity not only to survive but possibly thrive should the SHTF comes to pass.
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<< <i>
<< <i>I never plan on selling any of my gold so it takes some of the angnst out of the equation. I have always viewed gold as wealth insurance. Silver I do speculate with. MJ >>
Why not enjoy some of your gains while you can. Your Gold is going to be worthless to you, once your 6' under.
Not so fast, you can always bury it with you and use it to barter in the after life....
" 8 I amassed silver and gold for myself, and the treasure of kings and provinces. ... 9 I became greater by far than anyone in Jerusalem before me. In all this my wisdom stayed with me...
18 I hated all the things I had toiled for under the sun, because I must leave them to the one who comes after me. 19 And who knows whether he will be a wise man or a fool? Yet he will have control over all the work into which I have poured my effort and skill under the sun. This too is meaningless. 20 So my heart began to despair over all my toilsome labor under the sun. 21 For a man may do his work with wisdom, knowledge and skill, and then he must leave all he owns to someone who has not worked for it. This too is meaningless and a great misfortune. 22 What does a man get for all the toil and anxious striving with which he labors under the sun? 23 All his days his work is pain and grief; even at night his mind does not rest. This too is meaningless.
24 A man can do nothing better than to eat and drink and find satisfaction in his work. This too, I see, is from the hand of God, 25 for without him, who can eat or find enjoyment? 26 To the man who pleases him, God gives wisdom, knowledge and happiness, but to the sinner he gives the task of gathering and storing up wealth to hand it over to the one who pleases God. This too is meaningless, a chasing after the wind... "
Of course, this is not the final answer, but the beginning perspective; I won't spoil the ending, and leave that to you readers
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
At first I thought you had some type of crystal ball... then I saw the rest of your thread and realized you were just another crackpot. Cheers, RickO
<< <i>"....most of us are going to be dead in less than a year. "
At first I thought you had some type of crystal ball... then I saw the rest of your thread and realized you were just another crackpot. Cheers, RickO >>
Give me a break, Ricko. I read most things here, and have respect for what you say, and you as a person, but you obviously have no clue where the man is coming from. That, however, is understandable, and is common among men. I hope and pray that one day you may see the light.
InYHWHweTrust, thank you for quoting from the Good Book. It is beautiful, isn't it? King Solomon was blessed with the wisdom of the Lord, the truth. You know he says that the love of God is the end of all understanding, and that is true. I do not believe that God gave us gold and silver to ignore, for the Bible tells us to use it properly. It also says that the wise man seeth the storm, and hides himself from it. This is particularly apt in this light. Gold and silver can and should be used to help shelter us from the coming financial/economic/political storm, don't you think? Our faith in God is not diminished by the use of His metals; all things are His, and He lends them to us. Remember, have faith in the Lord and your warehouses will be overflowing.
Thank you wholeheartedly for your testimony.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
Thank you, Jester for your post as you obviously have the big picture and know the rest of the story. I am not a 'don't polish brass on a sinking ship' pessimillenialist (actually quite the opposite) at all. Because of this forum I have been spurned to do more due diligence in preparing for future scenarios, keeping a balanced perspective. Yes, I am one who sleeps better completely out of debt, mortgage paid off, save for college (we are blessed with 4 children) and salting away PMs for about 3 years now, and steadily moving IRA to physical. (US Gov't grant IRA, US Gov't taketh away IRA, never really felt comfortable about them -- I am 46 now)
Again, thanks to forum members here and US coin forum for spurning me own to look into things. And yes, Jester, it is a blessing to tithe to the Lord, to be able to work and be a part of the greatest Enterprise and to provide for our families, protect and plan for the future if He so wills another day for me.