Sunday, March 6, 2011
Gold $2,000 oz and Silver $105 oz
Posted by Nick
What do I buy? ONLY BUY PHYSICAL SILVER AND KEEP IT IN YOUR POSSESSION. Don’t get suckered into SLV, custodian accounts, E-Silver, mining stocks, precious metal IRAs, or any other instrument that does not have your wealth in your absolute control. You have to understand why you are buying silver. It is to have a real tangible wealth in your control while the fiat paper wealth world burns. I could think of nothing more maddening than get this far, to see the potential of silver and then be caught in the wrong form of it. And don’t think that you are going to somehow trade this like stocks. One day this will all end. The world will rush for the fire exits and you will not make it out alive.
The first purchase I recommend is an American Silver Eagle. In my opinion it is the best bullion coin on the market. I bought a Proof 2005 Silver Eagle to symbolize the year I went all in. Silver Eagles are the most popular silver bullion coin. By law, the Treasury is supposed to make enough to meet demand and use only domestic silver production. There are rumors that the US Mint stopped making Silver Eagles this month. January was an all time high for silver sales of 6.4 million ounces. (For perspective that one month is almost as much silver that was sold in 1996 and 1997 combined!) The United States total mine production for an entire year is only 40 million ounces. If we annualized January’s sales that would be double what the entire country can produce, and we are just getting warmed up.
Buying American Silver Eagles also forces the issue with our battle with the banksters. The more they have to admit that they cannot meet demand, the quicker their illusion collapses. The US Mint would meet all the demand that it can handle if the price of silver was allowed to rise.-A beginners to guide to investing in physical silver.