Doc- As a newcomer who has been burnt by every supposed financial advisor I have ever spoken to it gets very confusing.
We all know the markets are rigged. Every article I read or most of them are from outfits like Miles Franklin, Peter Schiff, David Morgan, Eric Sprott, You, etc. All of these folks have skin in the game. They are selling either the metals themselves or info about the metals. How does a person ever figure out that all these folks are not just lining their own pockets on scare tactic news about everything?
I have stacked over 10,000 oz. and have another 50 grand or so to invest. Morgan says stocks in precious metals are the way to go. I am quite sure you will say keep stacking. If all of these people are wrong I am screwed as I have put everything I have in this project. Peter Schiffs interview on Cnbc with that gigglie blonde, Maria was actually laughing at him. Do they know something he doesn’t? A salesman’s line of ‘trust me’ is when you know he is lying. What are your thoughts?
Bruce, sounds like you are putting too much emphasis on what the so called experts say rather than studying the fundamentals and making your own decision. Personally I would recommend taking a step back, evaluating the fundamentals, and making your own decision with your assets. Have any of the fundamentals that saw gold rise from $278 to $1910 or silver from $4 to $49 changed? Did the US government’s public debt of $16 trillion and unfunded liabilities of $100 trillion evaporate last night? Did the $1.26 QUADRILLION in derivatives suddenly vanish? Is the dollar no longer losing it’s reserve currency status daily? Is anyone other than the Fed suddenly buying $40 billion in weekly US debt auctions? Are REAL interest rates now positive? (Eric Sprott discussed the new policy of NEGATIVE official interest rates being the financial system’s death knell in his latest Markets at a Glance newsletter, it’s a must read) Have 99% of the general public piled into the metals?
I don’t see a single fundamental that propelled gold and silver through the first 10 years of their bull markets having changed ONE IOTA!!
You mentioned you’ve stacked over 10,000oz. If you’re talking physical metal in your own possession, I’m not sure I understand how you think you’re screwed if the big names in PM’s are wrong. Silver will always have value, unlike a currency, stock, bond, or almost any other financial asset, it maintains value over time. Personally I strongly believe the evidence supports that gold and silver are still undervalued historically. Silver is still nearly 50% lower than it’s highs in April 2011, meaning it has FAR less risk today than it had 16 months ago. Unlike a small cap miner, physical gold and silver become LESS risky the closer their price gets to zero. A mining company always has some risk of going off the board- gold or silver have absolutely zero chance of ever going to zero.
As far as CBC….yes, CNBC knows something that Peter Schiff doesn’t….they know Fidelty, Ameritrade, and JP Morgan pay them gazillions to pump financial paper, not phyzz. You mentioned everyone has skin in the game…you don’t think CNBC and Bloomberg have skin in the game? Trust me, when the day comes that bullion retailers and mining companies are spending more on advertising than the financial firms, CNBC’s tone will change abruptly.
Regarding your remaining capital, yes, if it was my $50,000, I would continue stacking, but that’s only what I’m doing with my fiat’s. I would rather have a $20 gold coin from 1915 than a $20 bill from 1915, and I am quite positive that one day my grandchildren would rather have a $30 silver eagle from 2012 than $30 in 2012 fed notes.
As you implied, I now have skin in the game as well with SD Bullion. However, I started SD Bullion with the goal of providing SilverDoctors.com with an honest revenue flow that would allow me to support myself with SilverDoctors, quit the day job, and give my full focus and efforts to SD (as well as to provide our readers with a retail source of bullion as close to wholesale prices as possible). We’re slowly making headway, but I’m still working a 40 hr a week day job that pays the bills.
I’ve done my best to not change my message at all since launching SD Bullion. The main focus remains educating investors on the looming debt collapse.
Honestly it sounds like you need to evaluate the fundamentals yourself and determine whether you understand why you invested in silver (I am assuming silver, if you have 10,000 ounces of gold that is quite a stack!) or just went all in expecting to make a mint overnight. Most investors are not able to endure an entire bull market. They get bucked off along the way. The hardest thing to do is to be right and sit tight. Personally I’m so convinced that gold and silver are headed higher long term that I get excited when we have a correction or a sell-off, because I understand my fiat salary just went up temporarily in terms of real money. I lock in my purchasing power while I have the opportunity.
Hope this helps, and best of luck.