What exactly is a scam?
Well its defined as a dishonest scheme; a fraud.
| synonyms: | fraud, swindle, fraudulent scheme, |
The thing about selling commodities is that there are highs and lows, with silver I have seen the price as low as $4.98 in the past and you know were not that far removed from the eighties.
It has been selling between $10 and $30 and up Up UP for the last few years. Increasingly the cost has been higher and higher which is just ridiculous.
You watch TV and you will see commercials talking about how demand is up and Oh boy oh boy oh boy you better be buying now, they come out from under the stones and rocks they have been hiding under and they start hawking silver and gold.
But, is that a scam?
Its possible…
Silver prices reached a cyclical nadir of $4.98 in June 1982, 10% of the $48 peak just 30 months earlier. June 1982 also proved to be the trough of the recession in the United States. During 1982 serious problems erupted in the international debt market, in particular relating to the debt repayment problems of certain countries in Eastern Europe and Latin America.
Guess what silver can go down…
A lot of people were talking about how silver can’t go down… Really…
Silver Can go down, Gold can too.
Be smart, any investment is about the timing.
If you purchased gold back when it was selling below $400 an ounce and sold it lets say when it peaked a few years ago then you would be in a good position to buy again when it goes down AGAIN>….