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RE: Echoes of the 2008 Stock Market Crash and Housing Meltdown? By Gregory Mannarino
I agree! Shame that I cant make some more of my friends and family understand this situation clearly.
I am certainly the black sheep at this moment in time.
Although I wish the day would come that I could have some justification in my opinions I also fear it because many people whom I know and love will find themselves in the most awful of situations possible.
Welcome to the club. I think your story is happening to a lot of us who have woken up.
My family is the same way they think that $100.00 bill is worth more anything. I hear it all the time "why would i want to buy 5oz of silver with my $100.00 bill." They just dont get it.
Wait until they Federal Reserve (Debt) Notes crash and they turn in their 100 dollar bills to the bank for a 1 dollar coin... Not a silver or gold coin, but just plain old Common Coinage... I think Pocket Change will increase 100 fold in buying power when the Fiat Dollar crashes... Pocket Change...
Haha - its crazy right, there is no downside to buying silver. It can't go down below production costs.....it has to go up when the stock market turns, The stock market is at an all time high. The stock market has to turn - its a cycle - and silver has to go up. Because its a cycle - Silver has to go higher than $50 - it actually needs to go higher than $110 in the 80's....no downside
NONE
It woyld be very nice to see $110.00. Problem is i dont think there would be much left to buy. Cause once it starts going up people are going to sworm to it.
Yeah if the jump was that rapid the price would just hit no offer because hardly anybody would be selling and we would have to wait it out until silver can be revalued. But hey, at least you have some in your hand!
Silver stackers are the most patient people on the planet!!!
We have no choice. You are right though, we will wait it out.
Aluminum horders have you beat. They're waiting for an entire infrastructurual collapse, followed by a scavenging draught. Only then shall they part with their bars.
They are also chess players. Thinking multiple steps ahead.
Think of it as an insurance policy if anything. Every year you spend money on multiple policies and if nothing happens it's gone. You have no gain and you have to come up with the same amount for next years policy. Precious metals are insurance on your savings/wealth. The thing is you can cash out on every dime that you put in if needed. If things happen like people are saying they will then you could have a big payday too. I don't see a downside to owning the metals at nearly the cost of production....
Most people need to feel comfortable with the mass consensus on just about anything. It's difficult being a prophet around people you care about, until they hear it from someone else, the issue is hidden in plain sight.
When the SHTF they will probably say 'don't say I told you so'
I also get frustrated by my family and the constant 'rolling of eyes'. Sod it, you can't always open a closed mind!!!
Next time you go shopping with the family, price eveything they buy in silver oz. That for sure will get you some eye rolling. My wife doesn't really like to spend money around me cause she knows that i am going to price it in silver
That's funny Ray!!! Yep I'd get seriously beat up for doing that!!!
Add me to that list as well. My family enjoys cognitive disenance and chooses not to accept the truth. sigh At least some of us see whats going on. I too am a black sheep for spreading truth.
Ditto that. "Picking tops and bottoms is the toughest job on Wall Street".
Right on, I'm in the same situation, family and friends think I'm losing it. In most cases I would be happy to tell them I told you so when this takes place, but this will be too sad a situation to rub it in!
Most everyone I know is clueless. I live in the bubble that is called Naples, FL. Everything seems great hear. The streets are full of luxury cars. High end restaurants are full. The low end of new construction hear is $500K.... So when I talk to friends and family about what is coming they just look at me like i'm crazy..... I stopped talking after the crash in 2008. The housing bust that was coming back then was just as obvious. Nobody will event admit that I warned them.... Even those that last their @$$.... I know people that are starting to flip houses now late in the game and i just smile and think. I like that house, maybe I'll pick that one up when it forecloses...