Give me one good reason not too.............

[limerickman]

ive been following austrian ecomonics for the last few years and watching people like ron paul, peter schiff and gata be right on so many things. Ive been a student so could not profit from any of the investment advise. I just started a permanment job. Can anyone give me a reason not to take out a 10,000 euro loan and invest it in silver and gold? If things go wrong for some reason (and say gold and silver half in price) i can afford to pay it back with my new job. If i take the loan over 5 years i only pay back 12,500 euros. My investment only need to go up 30% to cover me. Given what will happen over the next 5 years i see it as a good oppertunity to make money, of course ill will be investing my savings as i go as well. What would be the advice of the people on this board?????? Can anyone give me a good reason not too do the above, i know its a risk but no one ever made money by sitting and doing nothing.

 

[hazek]

Buying PMs is not as much about making a profit as it is to preserve your purchasing power..

 

[Live_Free_Or_Die]

if you are looking for a get rick quick scheme i would highly recommend organized crime. here is a link to submit your application:

http://www.usajobs.opm.gov/

other than being a smart ass i don't have any advice... and will leave it up to the other smart economics and sound money posters.

 

[squarepusher]

nothing is guaranteed, your idea just may work out but it would have some risk also. Look, Silver was almost $15 just a few months ago

 

[limerickman]

i understand the risk but ive heard many economist say that over the next 5 years this is going to be a massive bull market (ive heard silver at 100 dollars is a no brainer). I understand the risk im not a novice so dont de afraid to give your honest opinion. I unsterstand silver was 15 dollars a few months ago, and remember im not going trading this is a long play over the next 5 years............

 

[squarepusher]

you want to buy physical metals?

 

[limerickman]

yes the plan is to buy physical metals 60-40 silver /gold coins.....

 

[psi2941]

thats what i'm doing, as a double whammy of my way of saying FU to the government, i'm doing though student loans

however your objective might be different then from mine.

I believe our "credit" based economy is going to end. so after this collapse if feel people in general will never give out a "consumer" loan. so in essence i really don't care what my credit score will be. my intention is to never pay off my federal student loans nor any credit cards i have. (which is a bad advice in general) however looking at whats going to happen, and how everyone is going to have to pay full price on the spot with no credit available so who cares?

the only risk, is what happens if the collapse doesn't happen? I mean lets face it ron paul has been warning about the dollar collapse since 1971, since i don't plan on paying my credit card nor my students loans i really don't care. Of course this might not be a option for you because you might care about your magical credit score the banks dangle over your head.

the other low risk is that, gold and interest rate grow at the same rate. so after 5-10 years your still even. Of course this isn't a risk but still all the hassle just for nothing?

as someone mentioned, this is not going to be get rich quick thing. if you pull a loan of 10k of euros thats like 11 gold ounces or 1 monster box of silver, that isn't small but that isn't alot to retire on.

its just going to be there just to give you a jump start on the new economy.


bottom line: if you think the money system is going to collapse soon (1-2) years do it
if you think the money system is going to collapse after (3-4) year hold on for now.

most of us (on this forum) here are betting very soon.

 

[squarepusher]

so your banking that you will never have to pay back the borrowed money?

 

[psi2941]

so your banking that you will never have to pay back the borrowed money?

their all pretty much personal loans and according to the law they can't really come after me except for harassing phone calls. the only thing i might pay off is the mortgage on the farm i'm buying, since i don't want to loose the farm.

 

[limerickman]

well to be honest, all the money they are printing has to go somewhere im betting that it will go into assets and we will have a bubble in gold and silver like the 1980's, its not an all out bet on the monetary systems collasping just a bet on the price of gold and silver going up by spades over the next 5 years, i understand gold and silver just maintain your wealth, but in the 1980's silver and gold went crazy for the same reasons they should go crazy over the next few years. im from ireland and i can see how europe is going into stagnation over the next 5-10 years.....

 

[geewhzz]

student loans don't go away in bankruptcy

 

[mojobo]

This is actually a good idea if Gold and Silver prices turn out the way everyone expects. What you are doing is essentially using precious metals to short the dollar. I would be careful and try to find the absolute best way to buy and sell, but it seems like your well within your means of paying it back should it go down. Depending on how confident you are in the dollar or Euro collapsing (it seems like almost everybody here in my short time since joining the forum is pretty confident) you might want to consider borrowing more if you can. With the way our central banks are trying to solve the economic mess, you might as well put in as much as you can on the bet and keep an extremely close eye on whats going on.

 

[fj45lvr]

so your banking that you will never have to pay back the borrowed money?

get a "fixed rate" loan!! haha.

If things vaporize expect the state to go into hyper fascism and try to get their hands on your precious metals.

 

[dannno]

thats what i'm doing, as a double whammy of my way of saying FU to the government, i'm doing though student loans

NicE!!!

Educate THIS motherfucker!!

 

[dannno]

student loans don't go away in bankruptcy

Ya but I have a feeling they are going to have to go away some how.. I mean, just look at them..

 

[Danke]

thats what i'm doing, as a double whammy of my way of saying FU to the government, i'm doing though student loans

however your objective might be different then from mine.

I believe our "credit" based economy is going to end. so after this collapse if feel people in general will never give out a "consumer" loan. so in essence i really don't care what my credit score will be. my intention is to never pay off my federal student loans nor any credit cards i have. (which is a bad advice in general) however looking at whats going to happen, and how everyone is going to have to pay full price on the spot with no credit available so who cares?

the only risk, is what happens if the collapse doesn't happen? I mean lets face it ron paul has been warning about the dollar collapse since 1971, since i don't plan on paying my credit card nor my students loans i really don't care. Of course this might not be a option for you because you might care about your magical credit score the banks dangle over your head.

the other low risk is that, gold and interest rate grow at the same rate. so after 5-10 years your still even. Of course this isn't a risk but still all the hassle just for nothing?

as someone mentioned, this is not going to be get rich quick thing. if you pull a loan of 10k of euros thats like 11 gold ounces or 1 monster box of silver, that isn't small but that isn't alot to retire on.

its just going to be there just to give you a jump start on the new economy.


bottom line: if you think the money system is going to collapse soon (1-2) years do it
if you think the money system is going to collapse after (3-4) year hold on for now.

most of us (on this forum) here are betting very soon.

Smart man. And just a few weeks ago you were poo-pooing PMs...

 

[Teaser Rate]

The problem with that scheme is that the possibility of silver appreciating in the future is already a part of its price. You aren't really buying an under-valued asset, you're just trying to beat the market, which is something that even professionals can't do on a consistent basis without insider information. (no offense, I don't think watching youtube clips counts)

 

[Arklatex]

In all honesty, I say do it.

 

[RonPaulGetsIt]

Interesting question. If I had zero PMs I might be tempted to do it as well. One bit of advice - If you do this buy CEF as opposed to holding the metals, CEF is almost as good as holding the phys metals but it would be liquid and there would be no trouble selling in a hurry should you want/need out. Of course no margin or you will get stopped out and lose all your money.