Will Silver go down in the Summer?
The hardest part about writing this blog and keeping it up to date for my readers, is that I have so many "Different" type of silver buyers following my Blog.As I've said numerous times, silver/gold buyers fall into 3 basic categories.
1. Long Term: People who buy silver/gold for their retirement. Because both Silver and Gold has historically held their value, this is a good plan. But as always, if you can't HOLD the silver in your hand, then you don't own it. Therefore, I'm not confident recommending the type of silver and gold you hold in an IRA or a precious metals type stock. There may be some "Safe" ways to store silver in an IRA, but I'd rather have physical. Imagine if you bought 1 ounce of silver per week (Average $30 an ounce over the high and lows) and you started at age 20 and did this for 45 years? That leaves you with 2,430 ounces of silver. I wish I knew at 20 years old what I know now. We blow $30 a week on cigarettes, beer, soda, "Starbucks", etc.
2. Survivalist/Economic Armageddon: This is a very popular reason some buy silver. Especially in today's times with so much government debt; printing money; and such a high chance for different currencies to crash. Including the U.S. Dollar. Look at what's happened and happening in places like Greece, Spain, and numerous other countries. For these folks buying silver, it doesn't matter what the price is. They have every intention of buying whatever they can; whenever they can; and have no plans to EVER SELL their silver or gold. It will only be spent, traded, converted, etc. when IT (Silver/Gold) become currency again.
2a. There is however a "SUB-SET" of this category. A subset that I believe ALL PEOPLE should be members of. There's every possibility that while Silver/Gold may never become a "Currency" again, there can be a time when no one trusts the currency. This causes hyperinflation. E.g. Germany during WWII. This is where I believe EVERYONE, should own about 500-1000 ounces of Silver. The purpose is to offset hyperinflation prices and get you through the difficult times without you having to cash out your IRA, investments, retirement, sell your possessions, etc. Think of this as "Economic Insurance". But unlike traditional types of insurance,,,,,, with Silver, you DON'T LOSE YOUR PREMIUMS!!! And if you realize how little silver there is in the world, and how little each person would have if you divided it equally, you'd realize how rich you'd be with 500-1000 ounces.
3. The 3rd type of silver and gold buyers are the speculator investors. Just like with stocks, you buy low and sell high. I do this a lot. I am able to buy items, like a car, at a much discounted price. I can also use this to pay off debt. I have bought and sold most of my silver for this 3rd type of silver/gold buying. But as I've always said, this is an area where you need to be able to sit on that silver, possibly for months or years. If it's money you might NEED TOMORROW, don't do this. This method you'll never go broke, but you have to be prepared to hold onto it for a while.
So..... What does this have to do with the price of silver possibly going down this summer? Well, summer months are usually a time when the metals go down a bit. However, since 2008, we've realize how manipulated the silver and gold market really is. As such, no one knows for sure what the price will do. But unless you're thinking of selling silver because you want a profit; (The 3rd group of buyers), this could be a time to look out for. Possibly if the price goes down, to buy even more.
But I am attaching a great video. The main point is that you should be buying today, and on a regular basis. Just like when I mentioned buying 1 ounce per month for 45 years. Well, just as easily as the price COULD FALL..... What happens if the SHTF tomorrow; war, economic collapse, etc? The price could start jumping up like crazy. If you're selling, maybe $100 an ounce sounds great. But what if you're wanting to BUY? What if you realize that the paper currency isn't worth anything. It could get to the point where you can't afford to buy any silver. Watch the video attached below. I think you'll like it. CYA: SE:
1. Long Term: People who buy silver/gold for their retirement. Because both Silver and Gold has historically held their value, this is a good plan. But as always, if you can't HOLD the silver in your hand, then you don't own it. Therefore, I'm not confident recommending the type of silver and gold you hold in an IRA or a precious metals type stock. There may be some "Safe" ways to store silver in an IRA, but I'd rather have physical. Imagine if you bought 1 ounce of silver per week (Average $30 an ounce over the high and lows) and you started at age 20 and did this for 45 years? That leaves you with 2,430 ounces of silver. I wish I knew at 20 years old what I know now. We blow $30 a week on cigarettes, beer, soda, "Starbucks", etc.
2. Survivalist/Economic Armageddon: This is a very popular reason some buy silver. Especially in today's times with so much government debt; printing money; and such a high chance for different currencies to crash. Including the U.S. Dollar. Look at what's happened and happening in places like Greece, Spain, and numerous other countries. For these folks buying silver, it doesn't matter what the price is. They have every intention of buying whatever they can; whenever they can; and have no plans to EVER SELL their silver or gold. It will only be spent, traded, converted, etc. when IT (Silver/Gold) become currency again.
2a. There is however a "SUB-SET" of this category. A subset that I believe ALL PEOPLE should be members of. There's every possibility that while Silver/Gold may never become a "Currency" again, there can be a time when no one trusts the currency. This causes hyperinflation. E.g. Germany during WWII. This is where I believe EVERYONE, should own about 500-1000 ounces of Silver. The purpose is to offset hyperinflation prices and get you through the difficult times without you having to cash out your IRA, investments, retirement, sell your possessions, etc. Think of this as "Economic Insurance". But unlike traditional types of insurance,,,,,, with Silver, you DON'T LOSE YOUR PREMIUMS!!! And if you realize how little silver there is in the world, and how little each person would have if you divided it equally, you'd realize how rich you'd be with 500-1000 ounces.
3. The 3rd type of silver and gold buyers are the speculator investors. Just like with stocks, you buy low and sell high. I do this a lot. I am able to buy items, like a car, at a much discounted price. I can also use this to pay off debt. I have bought and sold most of my silver for this 3rd type of silver/gold buying. But as I've always said, this is an area where you need to be able to sit on that silver, possibly for months or years. If it's money you might NEED TOMORROW, don't do this. This method you'll never go broke, but you have to be prepared to hold onto it for a while.
So..... What does this have to do with the price of silver possibly going down this summer? Well, summer months are usually a time when the metals go down a bit. However, since 2008, we've realize how manipulated the silver and gold market really is. As such, no one knows for sure what the price will do. But unless you're thinking of selling silver because you want a profit; (The 3rd group of buyers), this could be a time to look out for. Possibly if the price goes down, to buy even more.
But I am attaching a great video. The main point is that you should be buying today, and on a regular basis. Just like when I mentioned buying 1 ounce per month for 45 years. Well, just as easily as the price COULD FALL..... What happens if the SHTF tomorrow; war, economic collapse, etc? The price could start jumping up like crazy. If you're selling, maybe $100 an ounce sounds great. But what if you're wanting to BUY? What if you realize that the paper currency isn't worth anything. It could get to the point where you can't afford to buy any silver. Watch the video attached below. I think you'll like it. CYA: SE:
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