Hi to all,
I have been travelling a great deal this last few weeks and am now busy catching up.
I guess we can all come up with gold and silver values in the various printed currencies however we must remember that all of these paper currencies continue to be printed in ever growing amounts. Personally I stopped dreaming of making great profits with my long held physical gold and silver sometime back. I now view these holdings as insurance and as protection of my purchasing power, particularly as I have worked hard in my business in the hope of being able to live life at a reasonable standard during my retirement.
I continue to live in rented accommodation believing it is not wise to purchase depreciating assets if one can avoid it.
I am currently in Yorkshire in the UK, two years back I looked at one million pound house for sale in a very desirable area. Since then I take note of three significant points important to me at least.
1: The property remains for sale now at eight hundred and fifty pounds. I believe less may be required to buy it today.
2: Today I would need to sell forty precent less of my gold to raise the sale amount in GBP.
3: I now get around 63 UK pence as against 42 UK pence for my AUD $
Please note all the above is very verifiable if you wish to go to the trouble.
For me all I need to ask is has my purchasing power been protected over the last two years. The answer being yes most definitely.
So for now I will continue to covert cash other than required for my immediate needs into physical metal currently I am leaning more to silver.
I take no pleasure in watching the financial destruction going on around me and having witnessed the riots in London earlier this year I fear a great deal more people will get hurt before this is all over. I have in the past tried to spread the word of gold and silver as insurance and protection of purchasing power but now it may be wise just to keep my mouth shut and keep my head down.
I enjoy the many views shared on this forum including those metal detractors it helps me maintain balance.
The last ten years in gold and silver has been a rewarding experience for me but I have not fallen in love with it. At some point in the future I will look at converting over to income producing real estate. However I feel the trigger for that switch may be some years away, once I see money printing restraint, sound governments with balanced budgets and interest rates back in the double figures.
The next trick for me then at 57 is to stay healthy and remain on the planet until once more common sense prevails if it ever will.
Cheers: Andy
- Forums
- Commodities
- SILVER
- a deadly sign for silver
a deadly sign for silver, page-38
Featured News
Add SILVER (COMEX) to my watchlist
The Watchlist
SS1
SUN SILVER LIMITED
Gerard O'Donovan, Executive Director
Gerard O'Donovan
Executive Director
SPONSORED BY The Market Online