This new video from Chris Duane provides some food for thought if you’ve bought precious metals at higher prices than todays. He responds to a readers email who said that “Buying silver might be the stupidest move I ever made“.
His average price of purchase was US$37.75 and he asks the question “How do I get my enthusiasm back? I am the laughing stock of work and family.”
We know someone (who may be reading this) who also bought silver at US$20 back in 2008 just before it dropped all the way to $8. At the time we told him to sit tight and he’d be right in the long run. He did see the price head all the way up to $49.50 and while it is back down to the low $20’s now, he nonetheless remains in positive territory.
Interestingly video creator Chris Duane shares a similar story about his own entry into the silver market in 2008. He recounts what he did to handle the price plunge. The video offers a great summary of the reasons for holding silver. It covers:
- How fundamentals differ from today compared to 2008
- Why you shouldn’t worry about what the masses and even family and friends think
- And how to respond to them
- Which countries you should be taking notice of
- Why this email from this reader shows we are in the capitulation phase for gold and silver
- Interesting comments from the Italian central banker chief on gold
- A recap of various methods of valuing silver
- How he expects silver would perform during and after a monetary collapse
Buying Silver Was The Stupidest Move I Ever Made!
And once you’ve watched that, there’s another short video from Chris entitled: