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bluepelican
25th November 2009, 09:51
Let's say you have an extra $25,000 just sitting in a bank account collecting dust. What would you do with it right now?

Mighty_Men_of_Baltimore
25th November 2009, 09:57
Let's say you have an extra $25,000 just sitting in a bank account collecting dust. What would you do with it right now?

Is this a trick question?

LETMYSILVERGO
25th November 2009, 10:02
I Think We Are All, Or I Am Brainwashed Into Thinking, If You Don't Turn Something Of Value Into Cash, It's Does Not Have Real Worth Until U Sell It.

Take Beanie Babys ----
---

We All Know That Gold An Silver Are Very Liquid, U Can Sell It Anytime---

So If U Don't Have To Use The Money For A While, I Say Screw It And Spend It On Silver Never Matter The Price-

bluepelican
25th November 2009, 10:02
Is this a trick question?

No, at least it wasn't intended to be.

ccjoe
25th November 2009, 10:07
Is this a trick question?

I was wondering the same thing?
Obviously I put EVERYTHING into .999 silver and I had more than 5 times that amount.
I would do the same thing NOW!

ryshay
25th November 2009, 10:10
No, at least it wasn't intended to be.

Alright.

I'll say it.

You should buy gold/silver bullion, not the ETF, Perth Mint, or other paper gold/silver.

But before you do, make sure you have something that will go up in value even more than gold/silver could:

Get rice, beans, wheat, oats, or whatever you want sealed in #10 cans that will last 7-10 years. Or you can seal them in large paint barrels, or whatever. Throw some oxygen absorbers in when you seal them.

These take up a lot of room, but if inflation really takes off, then the goobermint will try to impose price controls on food like they did in the 1930s. And what happens when the USGovt puts a price cap on food? That's right--buyers will swarm all over the cheap food because demand is greater than supply at that price. Store shelves will be bare. Won't it be nice to have some extra food stored? What if you don't feel like standing in a bread line on a particular day? No problem--use your food storage.

Get a silver lined water filter that will kill most microorganisms in any local streams, in case there are water-outages. You can only live 3 days without water.

Get other things that you cannot live without. A way to protect yourself.

Then, after you have these things, then get gold/silver bullion.

TheLoneRanger
25th November 2009, 10:13
plan A
First I would pay down any debt

then I would make sure I had 6 months food water medicines

Then I would divide up the rest into 4 piles and would buy silver with each pile, at least a couple weeks maybe a month apart, on dips and pull backs and take physical delivery.


or plan B.. get a degree or trade school certificate in something I was really interested in and that had a chance of supporting myself and my family if the economy got worse and my current job went away.


I might keep a couple few thousand in cash depending on my situation and need for short term liquidity.

bluepelican
25th November 2009, 10:19
plan A
First I would pay down any debt


Assuming the dollar continues to slide and eventually falls off a cliff, wouldn't I want to wait so that I can pay off debt with depreciated dollars?

ryshay
25th November 2009, 10:26
Assuming the dollar continues to slide and eventually falls off a cliff, wouldn't I want to wait so that I can pay off debt with depreciated dollars?

yeah, in your situation, I don't think 25K will pay down enough debt so you can be "debt-free". Probably won't make a dent in the total debt. But I agree with LoneRanger--having debt over your head means someone has legal claim to your assets. Not a fun thing going into a Depression. But in your case you may just have to focus on food, supplies and gold/silver.

ccjoe
25th November 2009, 10:29
Alright.

I'll say it.

You should buy gold/silver bullion, not the ETF, Perth Mint, or other paper gold/silver.

But before you do, make sure you have something that will go up in value even more than gold/silver could:

Get rice, beans, wheat, oats, or whatever you want sealed in #10 cans that will last 7-10 years. Or you can seal them in large paint barrels, or whatever. Throw some oxygen absorbers in when you seal them.

These take up a lot of room, but if inflation really takes off, then the goobermint will try to impose price controls on food like they did in the 1930s. And what happens when the USGovt puts a price cap on food? That's right--buyers will swarm all over the cheap food because demand is greater than supply at that price. Store shelves will be bare. Won't it be nice to have some extra food stored? What if you don't feel like standing in a bread line on a particular day? No problem--use your food storage.

Get a silver lined water filter that will kill most microorganisms in any local streams, in case there are water-outages. You can only live 3 days without water.

Get other things that you cannot live without. A way to protect yourself.

Then, after you have these things, then get gold/silver bullion.

Thanks Rshay as my wife NOW gets it and wants me to do just the types of things you recommend.
thanks for the rational out of the box thinking:)

ccjoe
25th November 2009, 10:34
yeah, in your situation, I don't think 25K will pay down enough debt so you can be "debt-free". Probably won't make a dent in the total debt. But I agree with LoneRanger--having debt over your head means someone has legal claim to your assets. Not a fun thing going into a Depression. But in your case you may just have to focus on food, supplies and gold/silver.

Depending on assets I would buy silver with the whole 25K as long as right NOW you have a living income.
I did that and have made over 40K in 5 months rather than buying supplies, emergency funds, etc. I knew that silver would be going up when I put my 140K in at low 14's and NOW I'll have over 40K to buy all those supplies etc.
You don't want to go into a depression without all the ag you can possibly have.
I'll take NO assets (except silver) than paid off debt and minimal silver all day long. MY family first before creditors.

TheLoneRanger
25th November 2009, 10:35
Debt is going to get more expensive faster than the dollar might devalue.. and credit is going to get tighter, and any existing debt you hold will be an ever greater fraction of any credit you might be able to borrow in an emergency..

I would definately get out of any unsecured debt first.. second I would pay off anything that I owed money on that I needed to make a livelyhood.

then the food, then a means of having water.. then a couple or more months ahead on any prescriptions.. means of self defense, hand tools

then the silver

This is what I would do...thats me.. Silver is but one aspect of my portfolio.. I do not have all my egges in one basket.. doesn't mean I'm not a silver bug or that I don't hold with strong hands.. but a years supply of a balanced diet for me and my family also helps me sleep at night.. first quality firearms and first quality training and frequent practice to use them with an adequate , well excessively more than adequate ammo supply and with a lawyer on retainer specializing in personal liability and self defense issues also helps... when I finally get the solar panels and battery backup set up then I won't have to even get up in the night for a snack, I'll be to busy sleeping like a baby.. your milage may vary

ryshay
25th November 2009, 10:40
Thanks Rshay as my wife NOW gets it and wants me to do just the types of things you recommend.
thanks for the rational out of the box thinking:)

Sweet! I am not on your "ignore" list! Hot damn! :D

ccjoe
25th November 2009, 10:49
Sweet! I am not on your "ignore" list! Hot damn! :D

Come on shay. ONLY ONE person has EVER been on my ignore list when they literally harassed me down to knowing I had a hot tub which I NEVER told anyone. He was a freak:(
Plus you have great ideas:) I'm selfish. I want to learn, not just validate my own ideas.

Gino
25th November 2009, 10:50
Let's say you have an extra $25,000 just sitting in a bank account collecting dust. What would you do with it right now?

$25k? If you are itching to go large, then from a completely self-interested point of view, you could do everyone a favour and buy a couple 5000 oz COMEX futures contract (http://www.cmegroup.com/trading/metals/precious/silver_quotes_settlements_futures.html)for December and take delivery. Not only would you help drive up the price by taking 10000 ounces off the market, but you would assist undermine the power of the paper traders over the market. Probably be the closest you would get to the spot price as well.

Question is why do YOU think buying silver is a good option right now? If you're clear on WHY, then you strengthen your will to figure out the WHAT, HOW, WHEN, WHERE and WHO.

ccjoe
25th November 2009, 10:55
Come on shay. ONLY ONE person has EVER been on my ignore list when they literally harassed me down to knowing I had a hot tub which I NEVER told anyone. He was a freak:(
Plus you have great ideas:) I'm selfish. I want to learn, not just validate my own ideas.

Just an FYI http://www.kitco.com/market/
Silver and gold just spiked in 5 minutes. This is exactly why I put my whole 140K into silver so now every .10 increase I make a grand.
I have local coin dealers and biggies like Hannes and APMEX who will buy my silver at any MOMENT> I called all of them again yesterday and yes they will buy all the way up to 100, 300 or whatever.
You've got to think of the end game.

chroNick
25th November 2009, 10:59
Assuming the dollar continues to slide and eventually falls off a cliff, wouldn't I want to wait so that I can pay off debt with depreciated dollars?

Depends on the type of debt you have. If it's fixed interest, then it's a good idea to hold on to it.. buf if it's not, then interest rates will definitely go up.

Bank of America is allowing some people secure their credit card at a fixed low interest rate, in exchange for freezing your credit.

ryshay
25th November 2009, 11:02
Come on shay. ONLY ONE person has EVER been on my ignore list when they literally harassed me down to knowing I had a hot tub which I NEVER told anyone. He was a freak:(

Thanks Joe.
Someone on this board stalked you to your house and bragged about it?!
Sure it wasn't a woman? :D JK.
You might consider playing down how much silver you have--it seems to have attracted someone's attention!

TheLoneRanger
25th November 2009, 11:02
$25k? If you are itching to go large, then from a completely self-interested point of view, you could do everyone a favour and buy a couple 5000 oz COMEX futures contract (http://www.cmegroup.com/trading/metals/precious/silver_quotes_settlements_futures.html)for December and take delivery. Not only would you help drive up the price by taking 10000 ounces off the market, but you would assist undermine the power of the paper traders over the market. Probably be the closest you would get to the spot price as well.

Question is why do YOU think buying silver is a good option right now? If you're clear on WHY, then you strengthen your will to figure out the WHAT, HOW, WHEN, WHERE and WHO.

Gino unless you are planing on using margin, 10000 ounces are going to cost $187,000 and if you do use margin you can't take delivery unless you can come up with the balance. or something like that..

at any rate check your math

bluepelican
25th November 2009, 11:47
Here is my situation. I do have some extra cash that has been sitting in a bank account for a while now. I also have a small amount that has been sitting in a brokerage account since selling the handful of stocks I had in Spring of 2008 (the one thing I did right). I also have some gold, but not much.

As far as debt, I have student loans with a variable rate currently at 2.3% and a car loan at 2.9%. That's it. So, I could pay off everything, but I wouldn't be left with very much.

Concerning food and water, I'm planning on buying a Berkey filter within the next month. I'm hoping that my tax return will be enough to buy a year-supply of food from efoodsdirect.com as well as some sort of firearm (not sure what yet). I'm planning to start buying small amounts of silver on a regular basis and somewhat larger amounts on any significant dips. I plan to leave the money in my brokerage account and use it to trade ETFs (GLD, SLV, OIL) in the short-term and to eventually sink it into either OIL, the Rogers Agriculture fund, or something along those lines.

The bottom line is that I'm a procrastinator and because of that, I'm now playing catch up. I don't want to panic and sink all my cash at once, but at the same time, I know I can't wait too long.

ccjoe
25th November 2009, 11:54
Thanks Joe.
Someone on this board stalked you to your house and bragged about it?!
Sure it wasn't a woman? :D JK.
You might consider playing down how much silver you have--it seems to have attracted someone's attention!

It's gone in a high tech security facility so as I've mentioned, even Jason Bourne couldn't get it.
Before I put it away, I NEVER mentioned it. Now on GIM people mention stuff to demonstrate ideas that will help others. There will ALWAYS be people who begrudge other people's good fortune so hence the crazed person I ignored. NO not to the house but on line but who knows if he's trying to get through our gated community's gates?:)
I wish it were a beautiful woman to join me and the wife in the hot tub:)
JK (just kiddin)

ccjoe
25th November 2009, 11:57
Gino unless you are planing on using margin, 10000 ounces are going to cost $187,000 and if you do use margin you can't take delivery unless you can come up with the balance. or something like that..

at any rate check your math

I've been dying to do just that but what happens if there IS a pullback> Q very possibly could be right about a temporary pullback. Then you could get wiped out very quickly as you HAVE to cover.

ccjoe
25th November 2009, 11:59
Here is my situation. I do have some extra cash that has been sitting in a bank account for a while now. I also have a small amount that has been sitting in a brokerage account since selling the handful of stocks I had in Spring of 2008 (the one thing I did right). I also have some gold, but not much.

As far as debt, I have student loans with a variable rate currently at 2.3% and a car loan at 2.9%. That's it. So, I could pay off everything, but I wouldn't be left with very much.

Concerning food and water, I'm planning on buying a Berkey filter within the next month. I'm hoping that my tax return will be enough to buy a year-supply of food from efoodsdirect.com as well as some sort of firearm (not sure what yet). I'm planning to start buying small amounts of silver on a regular basis and somewhat larger amounts on any significant dips. I plan to leave the money in my brokerage account and use it to trade ETFs (GLD, SLV, OIL) in the short-term and to eventually sink it into either OIL, the Rogers Agriculture fund, or something along those lines.

The bottom line is that I'm a procrastinator and because of that, I'm now playing catch up. I don't want to panic and sink all my cash at once, but at the same time, I know I can't wait too long.

Very smart. NOT crazy like me going everything basically at once, but smart and aggressive.
Jim would love to hear that. I've been bustin his chops to put more into ag but he LOVES the soft commodities.

Gino
26th November 2009, 07:24
Gino unless you are planing on using margin, 10000 ounces are going to cost $187,000 and if you do use margin you can't take delivery unless you can come up with the balance. or something like that..

at any rate check your math

Right you are. Sorry about that. In fact, as I was writting that I was thinking everyone should be doing it. Still, I think you understood my intent.

I will have some more to say on changing the dynamic in Silver investment in a new thread.