Friday, May 6, 2011

Response to Bob Moriarty

Please read Bob Moriarty's article, titled "Silver Rally".

I, and maybe many others, laugh at these kinds of articles where-in one guru or another tells me what a sucker I am for buying silver, especially in the last few days when the run-up to fifty buck an ounce was, and still is, very profitable to us.

He recounts the usual crash and burn history and inevitably of history repeating itself. That is all well and good and in fact, expected. What he fails to take into account is most of us probably bought gold and especially silver, way back when it was 5,10,15,20 an ounce. So the recent highs and the more recent declines haven't affected me very much at all. Yes I might have missed out on some healthy profits but I am still hundreds of percent above the price I paid for it. Most of us are still way ahead of the game. I cannot think of any other investment where I have made hundreds of percent. Stock Market? Puhleeze. Money Market? No again. T-Bills/bonds? Now you're just being stupid. The only thing that is right up there with silver, is gold. This place, Provident Metals, is making and selling copper bullion. Copper bullion in bars and coins may have been around for a while but it has been well hidden. I have been collecting other PM's for years and had never heard of copper as an investment bullion. No more. I have also begun buying copper. In much the same way I began collecting silver oh so many years ago when people laughed a the idea. Copper may never be considered valuable enough to establish a 'big bank' ETF but when paper is useless real coins will buy that loaf of bread your family needs.
Bob just doesn't understand that there are people out here who just cannot accept that paper will ever be as valuable as metal. Someday the paper holders will be the laughing stock but on the other hand, they may make a killing selling toilet paper to those of us who can afford to buy it.

1 comment:

Strawman said...