I strongly believe you should be accumulating silver for several reasons:
There is very little of it in the world. There is 5 times as much gold as silver. Since the beginning of recorded time 40 billion ounces of silver have been mined and 39 billion ounces have been “used up”. The pubic won’t really understand this fact until silver prices begin to skyrocket.
Now that Obamacare is the Law of the Land, I believe more strongly than ever that if we are going to survive the the financial holocaust this law is bringing, owning physical gold and silver is more important than ever.
When I say trading, I mean the purchase and selling of a product. What most traders and investors will do is purchase gold and silver in bulk, hold on to it for some time, and then sell it when the price is high. I suggest trading in “physical” gold and silver rather than paper ETF’s, “leveraged” gold and silver products, or futures contracts. The advantage of possessing physical gold and silver are many: it is private, portable, liquid, secure, and if you buy collectibles, beautiful and historical.
As more and more people are waking up to the importance of protecting one’s wealth from the evils of inflation with silver and gold, a flood of silver coin programs have been popping up on the Internet. Perhaps the thing that has fueled this growing trend in precious metals has been the price of silver which has risen from about $3.50 an ounce in 2000 to nearly $20.00 an ounce today. That, combined with the devaluation of the U.S. Dollar has clearly got people’s attention.
We’ve been here before… layoffs and threats of layoffs. Living in an aircraft manufacturing city, layoffs seem to be a way of life around here. Times get tough… folks get laid off, other businesses suffer because of all the unemployed workers, jobs are hard to find, and eventually things get better. At least they have in the past.