And now the run on silver and gold...

[Pacific_Fork]

A lot of big investors keep 5% of their assets in precious metals. For some of those guys that's 10's of millions in metals. But some metals aren't super-liquid, so I prefer some of the ETF's that invest directly in the metals or the mining companies. I also have a bunch of other metals in actual holdings like lead, brass, and copper.........which seem to be in short supply right now, but can be very liquid when you want to sell them. But I don't drive a 1990 Toyota, I drive a 1989 Toyota.......because I can.

Right but did those investors or yourself create wealth off of selling gold or silver? Congrats on your 89 Toyota, nothing against them it’s just comical to throw cash at rocks instead of stocks in today’s age. If SHTF gold nor cash will mean a damn thing.

A lot of people driving fancy cars and living in McMansions are in debt up to their eyeballs. One mistake or misstep will put them on paupers row.

You build wealth by living below your means.

Big difference between being rich with debt and being wealthy. Lots of people own 50k trucks and a ski boat and live in an apartment. I was making fun of people I know who have next to nothing in assets or savings but claim to own thousands in gold and silver. One friend in particular owns several million worth of old silver coins (allegedly) and lives at his mothers house at 40 years of age. But somehow it makes more sense in the 21st century to hold on in hopes they are worth more someday than to buy property or invest business/stock market, etc.

Both our examples are extremes on each side. But I stand by my statement that I have never met a wealthy person who is free of large debt that owns metals and I know a lot of wealthy men and women. Maybe it’s just where I’m from, California.