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I can cash this position out today and spend it on whatever I want.

I realize this is in poor taste, but I'm getting a bit sick of dealing with these comments from people who obviously know very little about building wealth or finance.

Yes there are problems with the fiat currency, but you still have to play the game.

If the market collapses to the point you think your PMs will be your savior than it is probably worthless too. That is beans and bullets time.

Please come here and try to learn about making money for yourself. Then if you want, use that money to buy some PMs, but understand that ONLY buying silver is not a good plan to help you acquire wealth.

I can cash this position out today and spend it on whatever I want. [Silver YTD](https://pic8.co/sh/ZZnDqw.png) I realize this is in poor taste, but I'm getting a bit sick of dealing with these comments from people who obviously know very little about building wealth or finance. Yes there are problems with the fiat currency, but you still have to play the game. If the market collapses to the point you think your PMs will be your savior than it is probably worthless too. That is beans and bullets time. Please come here and try to learn about making money for yourself. Then if you want, use that money to buy some PMs, but understand that ONLY buying silver is not a good plan to help you acquire wealth.

(post is archived)

[–] • 2 pts

You have a digital account that says you have money. When you "cash out" and own something physical you can "talk smack".

Crypto is half a scam. When the FED decides to enter the market, all other cryptos are done.

"Beans and bullets" doesn't just happen. Look to the weimar or zimbabwe collapse. Society still functioned. People still went to work. Hard assets, gold, silver, tools, etc still held value over the dollars. People spent their entire paychecks on payday because the paper would dive each day. The current world economy has enough momentum to keep people going even after a "collapse" of the dollar.

The biggest problem will be supply chains. China can decide to stop send goods to the US which would cause food shortages relatively quick for the supermarket crowd. Hunger means fighting in the streets.

[–] • 3 pts

I've used stock market gains to help buy a car, house, and a boat. I'm sure that counts for something. Do you withdrawal your entire paycheck every payday?

The Federal Government is taxing BTC. BTC is here to stay.

"Beans and bullets" doesn't just happen. Look to the weimar or zimbabwe collapse. Society still functioned. People still went to work. Hard assets, gold, silver, tools, etc still held value over the dollars. People spent their entire paychecks on payday because the paper would dive each day. The current world economy has enough momentum to keep people going even after a "collapse" of the dollar.

I have to give you that. Very solid historical point and the same is happening right now in Venezuela. When hyper inflation hits, you do want to convert that currency into anything physical.

The problem is, no one knows when that will happen. Sitting on silver or gold and waiting for the sky to fall is doing nothing for you in the meantime. Make some cash now, and prep if you like. I'm a big prepper myself. But don't discount the money you can make in the market today.

How dependent are we really on China for food? I believe America is a net exporter of food.

Upvote for good discussion.

[–] • 2 pts

How does one do this?

We are small, not much fiscally available. We prep. I allot x amount of € each month to necessities.

No debt. No mortgage. No credit cards.

I would like to know how to get to next point.

[–] • 1 pt

How much do you have to start investing?

[–] • 2 pts

This is not the day and age for lazy investors.

If you're even remotely on top of it every day, you won't have to worry nearly as much as the lazy investors.

High volume of small, safe trades beats sporadic big plays and involves far less losses.

There is bit of an art and science to diversifying. Honestly, no one tells you... here is what you do with 10 grand, then, when you get 100 grand, here's what you do... then, when you get a million, 5 million, ten million, etc.

Nobody blogs about that process; nobody writes it in books, but flexibility will always with the day. You do need to change up what you're doing at different milestones.

Equities is a great place to move a daily wad around for a living wage, but you'll need stable assets to accumulate along the way.

If you're actually worried about the sky falling, then you need the means of production. It doesn't really matter what. Soap. Lotions. Dehydrated fruits. Homeopathic ear drops. Moonshine. Make something. Brand it locally. Build a reputation. It's that simple.

But yes... those big plays where you put your whole wad into one investment is insanity.

The big plays don't come often enough to be able to outperform common sense, step by step, slow and steady growth. I promise. I do good at big plays, relative to most, but it's no way to live. It's not a path to success.

[–] • 1 pt

I'm not a huge fan of diversity for the sake of diversity. I am in the crowd of pick your highest conviction plays and put your money there. You can only do proper DD on so many tickers anyways.

Not to say I am against some momentum day or swing trades.

You have to be carful of putting all your eggs in one basket that is for sure. I can't believe the people on WSB for instance that blow huge amounts of cash on stupid options bets. Not for me.

[–] • 1 pt

Exactly. Some days, there are no good tickers. Some days, there are ten. You need the flexibility to take advantage.

Maybe I don't have the balls, but moving 100k+ on day to day is about as much as I can stand. After that, I shoot for diversification. I'm also never gonna have more thank 100k in crypto. I'll take the excess and do property.

Diversifying when you're net value is 100k isn't necessarily helpful. Maybe my milestones are more mental, but they work for me. As I said, it's not a process people will usually tell you a lot about. You have to feel your way through.

[–] • 1 pt

Another thing people don't understand is the velocity of money. Once you have working capital, if properly deployed, it's a powerful thing.

[–] • 1 pt

I only own eight stocks right now. A few are long term holds, the rest are swings.

I already have covered calls sold on that MARA position, I might be out of that play by the 21st. Which would be fine by me. It's been a good ticker the last 6 months. I'd look for another re entry.

I feel you about crypto. I believe we need exposure to it, but I would not go all in, that is for sure.

I'm trying to stay at least 30% cash too. I don't really have a good feeling about the market right now, but I'm still taking what it is willing to give me.