Thanks Rick, I started buying silver bars back in 84' and acquired to early of last year. So I am coming up on a year when I stopped acquiring silver bullion bars.
Reason, I stopped buying bullion because the prices weren't cheap anymore. I kind of thought around a year ago that silver would creep up because of the severity of the economic downturn was at it's deepest and metals always lead out in times of recession...as well as stocks related to metals. Looks like my forecast paid off because I have a very big smile on my face since last year.
I'm ok in the silver bullion department but I have always preferred bars...I own over a hundred of them. :) I started hoarding them because it was way too cheap and after remembering what the Hunt Bros. tried to do I thought to myself it's not gold but it's still a precious metal used for different reasons. So the fact that it was multi-faceted in it's apllications too me was a smarter move than buying raw gold. I know gold has skyrocketed but I wasn't going to be able to acquire over a 100+ gold bars. So, I went for cheap and frugal than bling and broke while acquiring.
The rounds you spoke of are a wise move and it's in your hands and easily disposed of. Nice post and thank you for your reply.
I also leveraged into USSIF like quite a few of us here did when it was an absolute steal back in low pennies. There has been alot of wealth created by owning this gem of a company and I am thankful and pleased with this investment. No unhappy faces here for me I am jacked that USSIF took off, and I feel that it is still undervalued by as much as .50-.75 cents still.
No worries though, I didn't sell in the recent runup still holding along with all of my silver bullion bars. :) The economic recovery still hasn't taken hold completely and it's only a matter of time eventually. The idiots on Wall St like JP Morgan are obviously dirty and should be jailed for doing what they have been doing to the silver market through manipulations that stretch decades.
In my opinion, the carpet will be pulled out from underneath and the price of silver has to increase it's so vastly undervalued it's not even funny.
But my portfolio started back in 84' my grandfather told me that besides oil, silver and real estate is your smartest investments to make. So I did, and now I own quite a bit of both and looking pretty. I didn't buy any real estate from late 03' to until recently June of 2010.
Reason being, I knew what was going on with the non-conforming loans being peddled to people that couldn't afford them. There were signs of rising foreclosures along with rising real estate values skyrocketing. What people only looked at were the kool aid prices, but not the underbelly of the beast that was rising as well. Foreclosures and defaults. This was all evident to myself back in 03' 3 years before the market officially topped out.
The reason Clinton deregulated the mortage industry was to prop up the economy after 99's stock market collapse. His cabinent obviously knew the collapse of the stock market meant a massive loss of trillions of dollars of wealth on both sides of the streets. Main and Wall. He was advised to make it easier and gave the instructions to deregulate the mortgage industry. What followed well, the biggest downfall of America since the Great Depression.
If anyone doesn't or didn't know how important real estate was or is to the US Economy, it's security and the mere fact that most Americans retire off their equity of their homes after paying off their 30 year notes...well you all do now. Clinton was told, hey just deregulate. Real construction will boom putting people back to work, millions of people will buy homes, economy will bounce back. What he wasn't told was those same Wall St crooks and snakes were selling those packaged debts to other institutions. What they didn't tell Clinton and then later Bush was to close the gates. It was too late. So basically those Ivy Leaguers on Wall St screwed the American people and it's economy not once in the stock market runup then collapse in 99'. But, also the great Wall St robbing of the American people in real estate and our government along with Fannie and Freddie being stuck with trillions of dollars in debts.
The problem is Wall St isn't correctly regulated and the SEC is too small, Federal Reserve isn't under direct control and the smart people from Ivy League schools outsmart, outwit and outplay the Government everytime with their lackeys running government entities that represent we the people. They just simply outmaneuver, and outsmart the government the last 10 years they have ruined us not once but twice. US Government is too big, too beauracratic and too slow to keep up with Wall Street and the sharks that prowl it, own it and run it.
That's why being in real estate for 23 years I knew the difference of what was going on and acted like I was taught old school and stuck to my core ideals and principals. Regardless, of what the market was doing and the prices I didn't get suckered into the oasis to drink the posioned water.
For what it's worth greed has killed this country. Nothing wrong with trying to make a buck, but you need to do it the right way and not the slippery way. Because the latter always comes back to bite you.
