I am hoarding Silver am I paranoid?

[AK47]

As in Silver Bullion bars that I actually posses. Not futures, or Kitco certs, I am buying 10 oz Englehart bars or sometimes American Eagles. I turned my closet into a safe.

I am doing this because the economy is on a downturn so I cashed out all my stocks and futures. With Fannie May and other bail outs happening I am cashing out even some of my guitars so I can hoard more silver.

Broker friend of mine I used to go to school with said 200 more banks are going to go under in the next 2 years and Wachovia(sp?) is the next to go down. He says buy silver plus he has been stocking up on ammo and firearms.

The broker was never even a gun guy before. When I say firearms he is buying AR15s and other evil black rifles not hunting rifles and he does not even shoot guns or plan on going to the range with them anytime soon. He says he does not like to advise his clients to buy guns and ammo since they may think he is crazy and find another broker. He says they are a great investment now and have appreciated more than most other investments in the last 5 years.

China is buying mineral rights in the Congo right now...

So what say the JCF am I wise beyond my years and a prophet or is it time for a 72 hour psychiatric hold?

[zeegler]

I don't think you're ready for a straightjacket yet bro, but you definitely might want to consider some happy pills.

[AK47]

I don't think you're ready for a straightjacket yet bro, but you definitely might want to consider some happy pills.

Already one step ahead of you bro... I mean oh no nevermind...

[442w30]

Lead and Copper are good investments.
Lead is becoming the "DDT" or uranium boogeyman that will make you retarded if you look at it or keep it in your house. That is how they will effectively ban guns in the future.
Costs for hazardous material production, storage and cleanup will skyrocket. Former shooting ranges will be off limits as "contaminated"

Copper is in use in EVERYTHING and is in shorter supply/higher demand due to third world growth. It's a very practical mineral and its value is under rated. That's a cheap/safe mineral to stockpile.

[442w30]

Oh, and yes you are paranoid.

[AK47]

Your right about the copper.

I keep reading in the paper about all those tweakers stealing it from everywhere. They even removed exterior copper plumbing from a commercial building to sell for scrap.

I got lucky that I started collecting coins in 2002 and bought up those American Eagle proof sets in Gold and Platinum. I would never be able to afford those now. So I feel confident about my silver hoarding.

[zeegler]

You can't go wrong with copper. They don't even use copper pipes in house construction anymore because it's too expensive, and it would "disappear" from the jobsite. All water supply lines are PVC these days. Plus PVC is way easier to install.

[Spivonious]

I doubt Wachovia will go down any time soon.

Anyway, as long as silver prices don't tank, then sure that's a good investment. I think cashing out your stocks wasn't too smart though. The stock market always has a long term gain.

[AK47]

In the last 5 years I made about a average of 5% gain on my stocks. I had a diverse portfolio. I am not having any regrets on cashing out. I feel more in control having tangible assets. Its just so I can sleep better at night but I am a little strange.

Speaking of copper I think I will snag an bar or two of that I noticed they had a 5 kilo bar going for around 200 of .999 pure copper.

ETA wanns a make a wager on Wachovia going down?

ETA2 will wager a 1oz of .999 fine silver or cash equivalant of silver when it goes down. If it does not go down in a year from today I will send an Oz of silver.

[Emthrax]

He says he does not like to advise his clients to buy guns and ammo since they may think he is crazy and find another broker.

yup.

all craziness aside, well, have fun with your silver!

[442w30]

Speaking of copper I think I will snag an bar or two of that I noticed they had a 5 kilo bar going for around 200 of .999 pure copper.

Where do you buy bulk metals? Anywhere locally, or is it all "mail order"?

[Spivonious]

In the last 5 years I made about a average of 5% gain on my stocks. I had a diverse portfolio. I am not having any regrets on cashing out. I feel more in control having tangible assets. Its just so I can sleep better at night but I am a little strange.

Speaking of copper I think I will snag an bar or two of that I noticed they had a 5 kilo bar going for around 200 of .999 pure copper.

ETA wanns a make a wager on Wachovia going down?

ETA2 will wager a 1oz of .999 fine silver or cash equivalant of silver when it goes down. If it does not go down in a year from today I will send an Oz of silver.

Don't know what ETA means, but I'm in on the wager. Is it for today's silver price, or the price of silver in a year?

[Jayster]

your not crazy ,

the world economy is in for a big shift ,with the most benifit going to asia ,and the biggest loser being the us of a ,I've also been improving my cache of firearms and guitars.
I would also suggest you think about storing some long shelf life foods (mre's (properly stored can last 10 yrs)canned and pickled items))also first aid type of items.

I believe to be prepared for the worst and hopefully you'll never see it , but if you do - you're ready


hehehehehehe - what happy pills ??

[OnlineStageGear]

Gold and Siver are never bad investments provided you don't buy at a peak time. I am not sure if this is 100% correct as I got it off the net, but between July 1, 2003 and November 30, 2006, the price of gold increased approximately 84%, while the price of silver increased more than 200%.

Matt

[dg]

I don't think you're paranoid enough. If you were really paranoid, you'd be worried that the govt. will force you to sell at an artificially low price when the shit hits the fan, like with gold in '33. The abandonment of the gold currency standard doesn't matter. Anything that can be considered a financial instrument would be fair game in a "war" or "emergency".

http://www.gata.org/node/5606

I think you should put more into guns & ammo. Do you have room to dig a moat on your property? Maybe a bunker would be better. The water table is high here, so I'm looking into investing in land mines. They can't give 'em away right now, and there's a ton of upside there, imo.