Economic update

[ashedfc]

All these incidence was a loss of faith in the currency, & this time we are heading towards the US Dollar (world reserve currency) crisis

[ashedfc]

I was getting ready to start purchasing silver 1oz bars @ $50 but was side tracked and now it seems to be in freefall...I`ll hold off for now and keep an eye on things..gotta start tho.

This is the most economical & convenient way to own Physical Silver & you can own it in any Canadian account (either open non-registered account or registered accounts like TFSA/RRSP/RRIF, etc) a $1000 initial minimum applies & subsequent purchase of $100 minimum. http://www.sprott.com/Docs/PressRele...NG_May%209.pdf

I would recommend to start an account in this fund, & accumulate through subsequent purchase of (either weekly/biweekly/monthly/quarterly/whatever possible) spare/change money your budget allows .
This way the accumulation will happen over a period of time & every dip in price works in your favor.

[brunt]

This is the most economical & convenient way to own Physical Silver & you can own it in any Canadian account (either open non-registered account or registered accounts like TFSA/RRSP/RRIF, etc) a $1000 initial minimum applies & subsequent purchase of $100 minimum. http://www.sprott.com/Docs/PressRele...NG_May%209.pdf

I would recommend to start an account in this fund, & accumulate through subsequent purchase of (either weekly/biweekly/monthly/quarterly/whatever possible) spare/change money your budget allows .
This way the accumulation will happen over a period of time & every dip in price works in your favor.

Another good fund is Claymore's Silver bullion fund (SVR) (http://www.claymoreinvestments.ca/en...?ticker=svr.un)

The premium is much lower than Sprott's - Claymore is trading at a premium of 0.35% to the value of silver whereas Sprott is trading at a 17.73% premium. I bought Claymore a few days ago when the premium was actually negative.

If you want to hold silver as disaster insurance, then get physical silver in your own pocket. If you are looking to hedge inflation or make an investment, then buy a silver bullion ETF.

[ashedfc]

Another good fund is Claymore's Silver bullion fund (SVR) (http://www.claymoreinvestments.ca/en...?ticker=svr.un)

The premium is much lower than Sprott's - Claymore is trading at a premium of 0.35% to the value of silver whereas Sprott is trading at a 17.73% premium. I bought Claymore a few days ago when the premium was actually negative.

If you want to hold silver as disaster insurance, then get physical silver in your own pocket. If you are looking to hedge inflation or make an investment, then buy a silver bullion ETF.

I disagree on some aspects:
1. Sprott Silver Bullion Mutual Fund (the link which I had attached just got launched on Monday 9th May 2011), whereas, you are referring to Sprott Physical Silver ETF (PSLV).
2. Sprott Physical Silver ETF (PSLV) commands a higher premium because you can take physical delivery in a doomsday scenerio if you wish to do so, whereas Claymore does not allow physical delivery.
3. Custodian of both is different, for Sprott Physical Silver, its the Royal Canadian Mint (basically Govt. of Canada), whereas for Claymore its the ScotiaMocatta (a corporation). The safety net for both is a lot different.. (just for others who want to know Lehman Brothers was also a corporation, exactly same as ScotiaMocatta)..
4. While purchasing ETF's you have a trading cost, which can be avoided by purchasing the mutual fund version & the MER's are very competitive.. &
5. Not everybody has access to a trading account, whereas everyone can access the mutual fund version by just walking onto a bank, & asking the banking representative...(absolutely no cost involved).. Most of them will preach their BS, & try to put your money into Bonds,GIC's etc, but, If you literally name a fund & ask for it, then they should offer.....

[ashedfc]

Canadians borrowing more against their homes (using home equity as ATM): Fifteen per cent of Canadian homeowners took money out of their homes last year, at an average amount of $30,000. http://ca.news.yahoo.com/canadians-b...200817606.html

Question is "How long can this new ATM last & what happens when house price drifts downwards ?"

[ashedfc]

So you thought the Sovereign Debt Crisis was over? Bonfire of Wealth
By Martin Armstrong (a must read) http://www.martinarmstrong.org/files...05-10-2011.pdf

[newb]

If you want to hold silver as disaster insurance, then get physical silver in your own pocket. If you are looking to hedge inflation or make an investment, then buy a silver bullion ETF.
Do you all agree with this statement ?? especially after that last read..I`m thinking something up!!<!-- / message -->

[ashedfc]

This picture explains it all:-

[ashedfc]

The History Of The World's "Reserve" Currency: From Ancient Greece To Today

""

Throughout money has been backed by either Gold or Silver, only now (since 1971) its backed by nothing - just fiat paper, & this fiat experiment is gradually coming to an end.... as once again Gold is gradually becoming a part of world reserve currency.

[ashedfc]

Our Economic Future: From Best to Worst Case (an interesting read) http://www.caseyresearch.com/article...est-worst-case

[newb]

I for one appreciate this thread.....thanks...I have also started buying silver... 2 ounces/month is what I can swing. If they sink they`ll be great Christmas gifts..so no downside

[ashedfc]

Too Big to Fail, HBO Financial Crisis Propaganda Video (a movie based on real events of 2008, worth watching) here's the trailer
http://www.youtube.com/watch?feature...&v=wVV6dzDOgQ0

& here's the author's prespective
http://www.youtube.com/watch?v=GwWIc...feature=fvwrel
.

[ashedfc]

I for one appreciate this thread.....thanks...I have also started buying silver... 2 ounces/month is what I can swing. If they sink they`ll be great Christmas gifts..so no downside

Whatever you can afford (as per individual savings) it all adds up over a period of time. Looking upto Christmas is too short time frame. I suggest you consider the Christmas of future yrs like 2012/13/14/15/16...... This will probably be the best investment of this decade.
Check this source: as they are a Canadian Silver miner based in Vancouver, with mines in Mexico. They are miner themselves, so the quality of Silver is guaranteed.
First Majestic Silver: corporate website http://www.firstmajestic.com/s/Home.asp
Online Retail store: http://www.store.firstmajestic.com/p...ails.aspx?id=3

[newb]

Oh yes... I`m sorry...I meant that if the collapse doesn`t happen..and I`m old and grey..then they can be gifted.
Would it be wise to buy out of country when I can drop in at Scotia Bank and take pysical possesion then and there? Just wondering with shipping and ins. customs etc.
I paid a $5 commision on my purchase.

[brunt]

Oh yes... I`m sorry...I meant that if the collapse doesn`t happen..and I`m old and grey..then they can be gifted.
Would it be wise to buy out of country when I can drop in at Scotia Bank and take pysical possesion then and there? Just wondering with shipping and ins. customs etc.
I paid a $5 commision on my purchase.

If you are buying small quantities, I would suggest a coin store or coin show.

http://www.trajan.ca/showbbs/ccn.pl