When did you start stacking?

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mdcromer
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When did you start stacking?

I started a bit over a month ago.  Yeah, I know, that's terribly late in the game. . .

I've been following markets and the economy for most of my adult life.  In 2005 I realized we were in the middle of an absurd housing bubble and started to read blogs that discussed how the bursting of that bubble was likely to take down the banks.  I was fully invested in the stock market at that point and became worried enough to start moving out of stocks and into cash in my 401K by early 2007.   By the end of 2007 I had completely gone to cash.

In 2008 and 2009 I felt comfortable and even a bit smug being in cash.  I was a big fan of the "deflationist" blogs like Mish and Denninger.  However as the money printing began in earnest, it became clear that there were some serious holes in the deflationist argument.  So I climbed up on the fence between deflationary depression and hyperinflationary currency collapse depression.

Finally in May I heard about FOFOA's post Deflation or Hyperinflation over on ZH.  And then it all "clicked" that I needed to get the F*** out of fiat money.

http://fofoa.blogspot.com/2011/04/deflation-or-hyperinflation.html

I am sad to say that it is probably prejudice against "crazy gold bugs" that kept me from seeing the obvious truth 2-3 years ago that the dollar fiat is destined to meet its inherent value before too much longer.  And so my stack is sadly much smaller than it would have been.  But I'm buying as much as I can now -- most of my money is tied up in a 401K and I won't be able to take out a loan from it until 2012 -- hoping things hold together until then as my present stack is feeble stuff indeed.  On the plus side, I do live on a rural property with horses and a garden and plenty of room to grow food.  And thanks to my son's interest in the shooting sports, we are well provisioned in that area.

Edited by admin on 11/08/2014 - 06:27
SilverTree
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.

 

 

Better late than never. Welcome to the club!

silverbleve
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Its more than just stacking for me

I don't just buy and hold Silver. I know that is the general consensus here as the best way to go. Silver is more than a hoard, it is real money. I use silver as a replacement for a savings account. I just, plain, hate banks. Without ranting too much here, if I had a jetpack that was fuelled by hatred for the banking system I could have flown out to voyager 2 and back by now. I would pay money to watch some of them be burned alive, and I would bring popcorn.  /rant off

But silver is my way of taking real money out of the system. I have been a coin collector since I was very young, but until around 2005 it was just a nerdy hobby and I was happy to spend my time reading coin magazines and mint catalogs. 

Then, something changed. I bought my first 100 oz bar and started reading Ted Butler. I sold that 100 oz bar and bought it back a few times, just like taking money out of a savings account. Now the coin shop is my bank, and my stash is my savings. Its so foolish to keep money in the bank with inflation this high anyway. If you can't get a %10 return on your investment you lose money. 

Imagine however, if everyone did this. No more banks.

What I'm trying to say is I don't just stack and stack and buy and hold. Silver has become my personal monetary system, and frankly it seems to be working. I have no problem selling some physical if I need something, but the fact that I have to go to the coin shop to get money out helps keep me from buying things I don't need as well. Silver is not just for hoarding, its real money and I use it that way.

Paper is paper.

CoalCracker
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Since 2006

I've always had a coin collection hobby but not until the housing market (which I rely on for my well being) started to show problems for the company I worked for in 2006; did I get serious with buying coins, bullion and jewelry.  Even sterling silver or gold jewelry should be good for bartering if we are stuck between currencies at some point.

Agophillic
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February of 2010...at around

February of 2010...at around $17-$18 an ounce!  Ahhh the good old days...wish I got in in 2000!

__________________

-Agophillic

The silver bullet represents our ability to take down the fiat standard from the private central banks by buying silver.

thecoloredsky
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The TARP bill opened my eyes.

The TARP bill opened my eyes. I was astonished at the $700+ billion number. Never heard of it before. To put in perspective in my head, I remember people complaining that oil companies like Exxon were profiting $30 billion in 1 year. The numbers were getting to the point I started questioning everything. Even the "little" $10 billion jobs bill a year or two back. Passed right through as if it was a Congressional trip to Vegas.

Took a while for me to come around. I found a link to zero hedge through either fark or drudge, I can't remember. But the articles and comments actually gave me the heebie-jeebies in my stomach, as if I was on a rollercoaster. I was a sheep (no doubt 100% of me) and slowly, over time I started researching stocks like SLV. Like a domino theory, SLV was scaring the shit out of me so I cashed out and started buying physical.

It's hard to come around. The point where you are looking at the gainesville order screen asking yourself, "Is this what I should be doing?" But once you pull that first trigger and get the shiny stuff in the mail, oh boy... that was it for me. With a modest income, I'm converting my savings into PMs as much as I can. I save nickels and pre-82 pennies. The other coins I get as change I wrap them up and give right back to the bank so I can buy more PMs. No wonder why my doctor told me to lay off the stress, it was crazy for the first couple months. Now I'm feeling comfortable in my own skin and especially for the fact not one single person I know is even this close to preparation than I am.

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