All Forum Posts by: Account Closed

I believe it's having a financial dream in the form of a tangible vision. (For example, my vision falls in line with Mitch's financial freedom post). Then making the choice be courageous enough to meet that goal. And then more goals/visions from your new location.

$4.31 if I go out of my way to find a low price. Within a two mile radius I have as high as $4.99

A very confident - chrystal ball like - statement.

Of course we're all pulling for that. If hyperinflation did happen I imagine potential evidence of the beginning stages could look like this:

http://articles.economictimes.indiatimes.com/2011-04-14/news/29417583_1_economies-food-security-local-currencies

Great post. Thanks Mitch.

Oh man, Rick Rolled again three years later. I always fall for it.

I certainly agree that real estate is great. I am not touting gold or silver over real estate. I don't think either/or. I like both.

For the local real estate market I am in, along with my current skill level and life situation, it just made more sense for me personally to jump into commodities a while back as I build up my education in real estate.

But real estate is why I am on bigger pockets. I am learning from all of you. I have been for a while along with taking some fundamental courses. However, as of right now most of the value I can contribute back to BP is in the "off topic" area. But I am getting there :)

It can be. There are commodities that may do better than gold and silver during inflation. But then I am dealing with paper (or I have a farm or huge storage space).

If I am trusting the system I don't mind holding its paper. It's way more convenient. If I am distrusting the system I want some physical items.

I like knowing that I have a silver coin in my pocket that buys me the same amount of gas it bought me in 1971. I just have to stop at the coin shop first to buy 46 Federal Reserve Notes with it.

I agree with the premise that gold is not always the greatest hedge against inflation. It's funny when I hear mainstream media headlines such as "Gold Roars To New High on Fears of Inflation"

Last summer the Dollar and Gold went up together for a few months. I believe there are times when gold does well during extreme deflation.

Gold is a hedge against systemic risk and lack of faith in the way things work. We're in a decade of rage and uncertainty. One that appears to be headed for strong stagflation. Gold has a ways to go in my opinion.

The risk of government confiscation is one certainly worth considering. No argument there.

Silver is the poor man's gold. It should do very well for a while. However, having confidence in buying gold and silver is about having a solid grasp (or desire to grasp) macro economics: Specifically in relation to the history of currency, an understanding of The Fed, the history of central banking and fractional reserve banking. If those topics do not excite you I would not purchase gold or silver. Unless someone you completely trust is advising you.

A great book or video series found on Google is "The Creature from Jekyll Island." If that resonates with you then maybe you will justify why precious metals make sense to you. If you think that is crazy talk then precious metals will not make sense to you.

Ultimately no one can answer if it's "too late" for you to buy. I am not buying. But I am not selling yet. You can jump into the gold and silver communities and read their views. You can jump into Keynesian economics and read those opposing views.

You'll read a lot of pessimism in gold communities. You'll have to weed through people who just want the system completely changed and are hoping for a currency crash due to the perceived injustices of central banking - The "gold bugs." Many are intelligent and have valid points. However, you will also find a lot of intelligent posters with real knowledge that will blow your mind, who are simply interested in economics and wealth preservation.

One possible scenario. Unless the power structure changes there will be a time - just like in the 80s - where gold and silver crash again for a long period. It will be during a large parabolic spike and many people will get burned because they bought during the manic phase of the bubble. Historically every time that happened with gold the price for one ounce is almost equal to the dow jones industrial average.

Proceed with caution and understand the fundamentals.

Yes the 50% rule is another topic. On the topic of authors with agendas - The common theme I notice with posters bashing the 50 percent rule is that many of them are selling something investment related. A system, fund, etc...Where as the people whom are simply landlording seem to support the 50 percent rule and post their numbers. Of course this topic, like the hyperinflation or not topic, is beat to death.

As for credible authors on hyperinflation I tend to like Peter Schiff and Jim Rogers. Of course - like you - they are going to put their money where their mouth is. Thereby elucidating and agenda.

In the end. Let's hope you're correct and that there is no hyperinflation, and that we all get deals that beat the 50% rule.