Cain (and others) need your wisdom

[The Good Reverend Roger]

I keep hearing this idea about driving up the price of silver get kicked around in libertarian circles.

Goldbugs.   

I know, I know.

but man I really do wish I'd have been in a position to buy a bunch 10 years ago and just sit on it.

I bounced 6 ounces of gold I bought at $400, when the price went over the $1000 mark.  It only took 20 years.

it's SUPPOSED to be a long term investment that grows slowly and is stable relative to stocks and other paper but (hopefully) outpaces inflation.  

It's just another commodity.  Someone finds a shitload of silver somewhere, and you're fucked.

[Disco Pickle]

I keep hearing this idea about driving up the price of silver get kicked around in libertarian circles.

Goldbugs.   

I know, I know.

but man I really do wish I'd have been in a position to buy a bunch 10 years ago and just sit on it.

I bounced 6 ounces of gold I bought at $400, when the price went over the $1000 mark.  It only took 20 years.

it's SUPPOSED to be a long term investment that grows slowly and is stable relative to stocks and other paper but (hopefully) outpaces inflation.  

It's just another commodity.  Someone finds a shitload of silver somewhere, and you're fucked.

well yeah, temporarily.  I'm not as up on silver as I am on gold, so I don't know if any major ones have been found in recent years, but ive always seen the metals as providing a financial base you can pass on to your kids so they don't have to start from scratch. 

[correction] may have been wrong about china holding largest, data from 4 years ago has them in 6th.

[Precious Moments Zalgo]

I keep hearing this idea about driving up the price of silver get kicked around in libertarian circles.

Goldbugs.   

I know, I know.

but man I really do wish I'd have been in a position to buy a bunch 10 years ago and just sit on it.

I bounced 6 ounces of gold I bought at $400, when the price went over the $1000 mark.  It only took 20 years.

it's SUPPOSED to be a long term investment that grows slowly and is stable relative to stocks and other paper but (hopefully) outpaces inflation.  

It was a 4 1/2% annual return.  He could have beaten that with a CD.

[Disco Pickle]

I keep hearing this idea about driving up the price of silver get kicked around in libertarian circles.

Goldbugs.   

I know, I know.

but man I really do wish I'd have been in a position to buy a bunch 10 years ago and just sit on it.

I bounced 6 ounces of gold I bought at $400, when the price went over the $1000 mark.  It only took 20 years.

it's SUPPOSED to be a long term investment that grows slowly and is stable relative to stocks and other paper but (hopefully) outpaces inflation.  

It was a 4 1/2% annual return.  He could have beaten that with a CD.

yeah, but damn the taxes get you, and CD rates usually track inflation closely.  good place to HOLD cash, not so much for making it relative to inflation.

[The Good Reverend Roger]

I keep hearing this idea about driving up the price of silver get kicked around in libertarian circles.

Goldbugs.   

I know, I know.

but man I really do wish I'd have been in a position to buy a bunch 10 years ago and just sit on it.

I bounced 6 ounces of gold I bought at $400, when the price went over the $1000 mark.  It only took 20 years.

it's SUPPOSED to be a long term investment that grows slowly and is stable relative to stocks and other paper but (hopefully) outpaces inflation.  

It was a 4 1/2% annual return.  He could have beaten that with a CD.

yeah, but damn the taxes get you, and CD rates usually track inflation closely.  good place to HOLD cash, not so much for making it relative to inflation.

A 4.5% return doesn't keep up with inflation.  Period.

[Mesozoic Mister Nigel]

Copper's a better investment than gold or silver.

Or, if you can afford it, land. By far, over the  long term, real property gives the best return on your investment.

[Mesozoic Mister Nigel]

Of course, the tinfoilhat point of buying any of these is not that you get a better return on your investment, but that you won't lose everything when the economy tanks.

However, all things considered having debt on a house makes you a winner when inflation is out of control. I essentially made $200k last year and I didn't do anything but have a debt that reflects what the dollar was worth when I bought the house.

[Cain]

The best investment in the world currently is shares in Goldman Sachs.

[Cainad (dec.)]

Copper's a better investment than gold or silver.

Or, if you can afford it, land. By far, over the  long term, real property gives the best return on your investment.

Of course, the tinfoilhat point of buying any of these is not that you get a better return on your investment, but that you won't lose everything when the economy tanks.

However, all things considered having debt on a house makes you a winner when inflation is out of control. I essentially made $200k last year and I didn't do anything but have a debt that reflects what the dollar was worth when I bought the house.

Did you and my mom get the same lecture on managing personal finances?

My parents pulled their money out of other investments and bought a house in the 90s, right before that recession hit. So yeah, we wuz all poor and shit (not really, but we sure as hell didn't keep as high a standard of living as people seem to expect from a medical doctor's family), but as long as you can keep your job, a tanked economy or plummeting real estate values doesn't make the roof over your head any less effective at keeping out the rain. Sold that house a few years ago at a good price.

Then they pulled the same trick again, right before the 2008 crash. I think my mom has a 6th sense for market crashes: when she gets the urge to buy a house, the economy is due for another bust.

[Phox]

So yeah, we wuz all poor and shit (not really, but we sure as hell didn't keep as high a standard of living as people seem to expect from a medical doctor's family)

Wow, that kinda made me want to punch you in the face.

[Disco Pickle]

 

So yeah, we wuz all poor and shit (not really, but we sure as hell didn't keep as high a standard of living as people seem to expect from a medical doctor's family)

Wow, that kinda made me want to punch you in the face.

Nigel is on the correct motorcycle.  and this recession is the best time to buy property that's happened in my lifetime, except maybe the tail end of the 70's recession, when I was still sucking on nipples for sustenance and didn't know they'd serve a recreational function later in life.

that last part may have been unnecessarily graphic.  it's been a strange day.

[Telarus]

My girl and I have been considering incorporating as a church (to get credit as), and buying a house in PDX to half convert to a meeting space....

[Don Coyote]

My girl and I have been considering incorporating as a church (to get credit as), and buying a house in PDX to half convert to a meeting space....

The First Discordian Church of PDX?

[Cainad (dec.)]

So yeah, we wuz all poor and shit (not really, but we sure as hell didn't keep as high a standard of living as people seem to expect from a medical doctor's family)

Wow, that kinda made me want to punch you in the face.

It was said very tongue-in-cheek, if you couldn't tell. We were never needy, but during the first ten years of my life we were paying off mom and dad's student loans. The other doctors' families would wonder why we didn't have nicer cars or a bigger house.

[Phox]

So yeah, we wuz all poor and shit (not really, but we sure as hell didn't keep as high a standard of living as people seem to expect from a medical doctor's family)

Wow, that kinda made me want to punch you in the face.

It was said very tongue-in-cheek, if you couldn't tell. We were never needy, but during the first ten years of my life we were paying off mom and dad's student loans. The other doctors' families would wonder why we didn't have nicer cars or a bigger house.

Oh, yeah, i got it. Still kind of a dick thing to say. Some of us did grow up poor.