The Captain, as you know, likes to drink and is of course partial to the true nectar of the gods - Rumpleminze. And, if you are like me, you probably go to the local bar and buy two drinks per day. That, depending on tip and where you go, can easily add up to around $12-$14.
However, it dawned on me while running today that I really haven't acquired a significant "physical commodity portfolio." I put a couple calls into several coin dealers in town and the going price for a silver dollar is around $27.
Of course, I'm not one for discipline, but neither am I one for all out hedonism either. And every once in a while I like to put myself through a period of discipline to make sure I still have self control.
So I decree the next 30 days "Buy Silver Dollars, Not Booze" month were, essentially every other day you are allowed to go buy a silver dollar if you didn't buy booze at the bar the two days previous. In theory you will have acquired 15 silver pieces which (when the federal government fully monetizes the debt) will allow you to pay off your mortgage with one silver dollar.
Enjoy the decline!
With silver presently around $35 an ounce, what type of silver dollars are these that you are able to currently get for around $27? Ikes? Surely not Morgans or Peaces...
Neither the drinking or buying silver fit in with your bohemian, blogging lifestyle; for the latter, you are going to need a secure house: a permanent home.
I told some friends they should have bought some silver and gold about 7 or 8 years ago. Guess who is laughing now?
Excellent idea, Captain! Slow steady accumulation with a balance on the other things of life.
While the MSM made a big stink about the feller with $7 million in gold when he kicked the bucket, it's kind of sad - he could have made things a bit nicer for himself. Now the government and a relative are getting it all anyway. Moderation in all things. Of course, you and I won't have his problem!
Silver dollars are well and good, but are overpriced because they carry a bit of coin premium. Far better to buy "junk" silver: pre-65 US dimes and quarters. They work better than silver dollars.
When you get tired of looking at your stash of US coins, you can branch out into Swiss, Canadian, Brit, and South American silver. They are obviously less liquid as an investment, but that can actually make them a better deal silver-wise.
I actually started doing this in early 2001 when said silver dollar was $4. Still riding this silver train to $50 an oz.
Damn Capn $27 dollars is a fair bit bit o love right there? I'm looking at the spot prices and they are hovering around the $34 range, which means that at my place of abode I'll have to pay about $35 per ounce. Care to share the love?
With the Federal Reserve Releasing more money into the already over inflated Economy, It's Time To Buy GOLD and SILVER NOW, for your one stop shopping of gold and silver bars, coins, eagles, and anything in between, go to www.preciousgoldstore.com, before the prices get out of control or we have another shortage of bullion buy now!!
(when the federal government fully monetizes the debt)
What do you mean when?
The Fed now owns 90%+ of non-Tips treasuries with maturity at 10 years+ and 60%+ of Tips treasuries with maturity at 10 years+.
QE3 is buying MBSs because there is no federal debt left to monetize. Bamster spends it and the Fed prints (digitizes) to cover.
There is already a growing expectation that the first non-Fed over-subscribed Treasury auction will fail.
The debt is already monetized and in the big banks. Like every inflation those who got the money first will buy at pre-inflation prices like mad men and everyone else can suck it.
"Ain't it great to be a bankster"
Yes, yes it.
Buy all the silver you want, I'm stocking up on booze.
You can't drink silver, you can't eat it either.
If things really hit the fan, people will sell their wives for a fifth.
Shoot, most men I know would sell their wives for a shot.
Booze, guns and ammo. I'd add cigarettes but not many people smoke them anymore. Maybe smoke something else? Tradable any day of the week for food/water/toilet paper come the apocalypse. WTF am I gonna do with gold/silver?
Dude, seriously, have you ever tried to drink a silver dollar?
We can all buy booze, but there's nothing wrong with diversifying into a handful of coins in precious metals.
besides, there's another thing you all have to think about especially as it applies to "armegeddon" type financial planning
Booze weighs more than silver dollars so your value per measure of weight is less.
In this case, bullets would be the key or ideal store of value, but bullets also weigh a ton once you get a couple thousand rounds.
This then starts to give credence to "stockpiling" where you bury stuff, know where it is and can access your various stock piles instead of carrying all around with you.
Been more on the brass, lead and steel kick myself lately. About to get a .22 target pistol.
After that all I need is a good shotgun, and a proper fighting rifle, and I will be DONE with buying guns till I can afford a transferable machine gun.
I don't go to bars, do all my drinking at home, so I'd have to go a month without to buy a silver dollar.
Need to get rid of a couple rifles and pick up a good shotgun though.
Ammo isn't a problem.
@Ras Al Ghul
Nah, when it hits the fan I'll move back in the old roommate. Blacksmith, okay marksman, and more than once it was bitch to get to the fridge because the kitchen was blocked by copper tubing running from the stove to a jar in one direction and the stove to the sink in the other.
It took a while (you could degrease engine parts with his first batch) but after a while his water (well, it was a clear liquid) wasn't that bad.
Silver only has value if men give it value.
A guy I knew once said just stick with the Bs:
Booze, bullets, bandages and beans.
I swear I am not trying to be a jerk by asking this. I do have my reasons (really). Lets say enough of us get a modest stash of sliver coins. Whats to prevent the Powers that Be (PTB), from devaluing them?
I have a bunch of silver dollars, although I collected them when I was a kid not for the silver, but because they were rare. I had one back then (1960's) that was worth $21.
I do like the idea of metals as a hedge against inflation, but maybe it makes more sense to buy stock in foreign, publicly-traded mining companies or foreign companies that produce commodities. I'm assuming since these are foreign corporations, their stock will hedge against the US dollar's value decline.
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