You cannot loose when buying physical silver
by Silver lining
It is Thursday 23 August 2012 and I've just seen silver increasing for a fourth consecutive day in a row. Each day the increase in the spot price was more than 60 cents which is more than 2% each day. I became used to seeing increases of 15 cents and an immediate decrease of 17 cents the following day. Silver has been moving sideways for almost half a year now. This lackluster performance has discourage many. In perspective this week's silver moves have been surprising to me. I bought my monthly four ounces a week ago and it felt very satisfying to see silver trading above $30 after quite some time.
I have often read about the manipulation in the silver market and the experts' opinions about it. Experts are unanimously agreeing on one thing and that is that silver is extremely undervalued. I therefore don't mind the manipulation since it gives an ordinary working class guy like me the opportunity to accumulate precious metals, something I could never have owned had the silver price not been manipulated. My ultimate goal in life has always been to be debt free and be financially independent. This is my big chance. I am still not where I want to be in terms of feeling that I own enough now. So bring it on JP Morgan. You are the big saviour.
I am convinced that silver is the way to go. Two years ago I invested about $1000 in unit trusts. I was told by my broker that he can virtually guarantee me a 10% return after a year. After that year I lost $120 on my original investment. I later realized that even if I had gained the 10% I would not have beaten true inflation. After watching a Robert Kiosaki video on youttube, I immediately was attracted to the idea of owning physical silver and what he and others said made a lot of sense to me. I'm by no means an expert in economics and finances. I'm just your typical ordinary Joe trying like many others to make ends meet, but one thing is clear to me and that is that you cannot loose when buying physical silver for the following reasons :
1. Silver has intrinsic value
2. Silver is becoming extremely rare
3. The gold silver ratio of 50 : 1 has to come down
4. Fiat currencies will inevitably collapse
5. The manipulation cannot continue forever
6. Silver is money
7. Silver is a precious metal and will always be sought after
8. QE 3 and stimulus is inevitable
This is our chance. I am convinced.