Any Advice for the Next Generation?

[SilverTeen96Member]

Hey I’m a 16 year old Canadian and I’ve invested my very small amount of savings into silver and I was wondering if you guys had any advice for me and everyone else in the generation to come.

[JMAC5150Member]

Hey ST96,

For starters, your way ahead of the curve in investing in silver(real wealth) versus dollars(currency/debt), this first bit of knowledge is a great first step in understanding where the world is headed. For what it’s worth ST96, finding a job that you enjoy going to everyday is another lesson one can fulfill in life(that’s priceless). No matter what anybody tells you, research for yourself, the answers are there, (web, books, library, are examples) & come up with your own opinions from facts that are found, it will help your mind expand. Sounds corny, but try it you might surprise yourself… DOC FAMILY help me out on this one.

[SilverOneMember]

I agree JMAC…finding a job you truly love is most important.  I think it is also important that you understand that if your dream job requires you to go to education and if its not high paying that you would be best off commuting or looking at an online curriculum option.  College debt is the next buble to burst and for many individuals, they will never be able to pay pack the debt it took them to go to school.  As with most people here, if your invested in silver you should be set-up relatively nicely in the next 5-10 years.

[SilverTeen96Member]

Hey JMAC and SilverOne,

I hear what you’re saying, after learning about what money is (via the internet cause my school doesn’t teach it) I learnt that the trivium style of learning is best. I personally love investing and the business types of courses and I want to get a career in that but the Student Loan debt for getting a degree in business or economics is very scary… I hope the bubble bursts by the time I graduate so I’m not part of that group of people.

[MaryBMember]

Remember also that family comes first over money or silver/gold.

[ricin3000Member]

Be yourself and stay true to yourself. And if that’s worth anything wisdom will come as you learn and research (always research everything!). And stack my young friend, stack!

 

At this point in time it’s the only sane way to save for later (plus cash and perhaps lead if you’re in the US).

 

Best to you from EuroLand,

 

R3K

[ricin3000Member]

Keep stacking and shut your mouth to most ppl. That’s what I as a co-owner of a small business do.

[SumkidMember]

I’m also about your age and I’m from Canada. Since you have small savings and you’re from Canada, then you should buy some copper pennies cause Canada is going to remove their pennies. Copper pennies are cheap and it’s like paying 50% off spot price for a commodity which is copper. Visit http://www.coinflation.com/canada/      for more information. Remember, don’t ever tell others about your silver. I really want to tell you my hiding spot but I can’t cause my idea hideout might go all over the internet and thieves may found it one day. Also, keep it in your possession which means that you should not keep it in a bank, in a company’s vault, etc because “If you don’t hold it, You don’t own it”. You can bury it, hide under a tree, etc. as long you can access to it 24/7. Don’t ever sell your gold and silver unless if you really need some cash.

 

This may sound too mean but forget about our generation. Only kids who are awake and smart like you and me should give tips to each other. Kids in our generation are just too busy with their latest fashion, gadgets, etc. They don’t even know the value of gold and silver in terms of dollars. I wonder how they will react when I move 1000 ounces of silver in a shopping cart out in public without hiding the pile. I’m sure that 99% of them will think that it’s only worthless scrap metals. The reason why I told you to forget about the others is because of what happened to me when I tried to warn them. People at my school start calling me crazy, stupid and all the other stuff. I had a presentation to do about “Money” in class and my subject did warn that gold and silver are the true money which means that our generation shouldn’t save their labor force in terms of fiat currency, but in gold and silver like you and I did. I got a 21 out of 30 as a result which is the worst mark in my class and I was hoping to get at least 24 out of 30 or more! Wow, the teacher said that my subject about money is misleading and the vocabularies don’t match with the subject! Are you kidding me? How does “Unite of Account”, “Medium of Exchange” and Preservation of Value” don’t match with the subject money when it actually does. One person asked me why the dollar isn’t money, explained that it loses value by inflation, another asked me that if the dollar is not money then what is it, told that it’s a currency and finally, another person asked me what is inflation, explained that when the offer of the dollar is too high, it loses purchasing power which it makes price of goods and services go high. I was able to keep my fact that the dollar is not money even after everyone questioned me and no one was able to argue with me that the dollar is money but I still got a low mark. I’m starting to think that my teacher got paid by the government to deduct points on my mark if I tell everyone the truth about money so that this way, everyone will think that my subject is misleading because I got the lowest mark! At least I’ve spread my words that the dollar is not money and gold and silver are the only money! In conclusion, You should tell everyone about buying silver and gold to your closest friends and to your family.

• This reply was modified 9 months, 4 weeks ago by  Sumkid.
• This reply was modified 9 months, 4 weeks ago by  Sumkid.

[SilverTeen96Member]

@Sumkid I like the advice about the pennies but how would you sell them? I also do keep my silver hidden and in my possession so worries about that!

Well I’m sorry to hear that about your project but the exact same thing happened to me. On one of my projects I said that the worst economic event that happened to Canada was when  the Bank Of Canada decided to stop buying our bonds. It led to higher taxes, debt, and deficits but my teacher didn’t get it.

It’s funny that you say “I’m starting to think that my teacher got paid by the government to deduct points on my mark if I tell everyone the truth about money…” because if your going to a public school then your teachers are paid by the government! If I were you, I wouldn’t have tried to explain to people what real money is and I would have just referred them to Chris Martensons Crash Course.

Now I don’t thing your subject was “misleading” but I tend to disagree with most silver and gold investors that say fiat is worthless. I say that because fiat is backed by the government and the government is not worthless. The Government in Canada gives us free healthcare, roads, postal services, etc…

My last point is that since your in Canada, you should know that in the 90s our debt was soaring over 100% GDP but our government was fiscally conservative and instead of stimulating the economy, we cut spending and raised taxes and were able to pay a large portion of it off. That’s why I would sell my silver if I saw that the US was doing that, I wouldn’t wait for them to go bankrupt or into a hyperinflation.

[SumkidMember]

@SilverTeen96 For the moment, It’ll be hard to sell them cause pennies are already available in circulation so everyone can get copper pennies while coin roll hunting, I don’t think that everyone knows their values and wait that the copper’s price increase a bit more. The Royal Canadian Mint will stop distributing pennies on fall 2012 and will start removing them on February 2012 so you should sell them 1 year after that date when pennies becomes rare in circulation. You can sell them on Ebay, Craiglist, Kijiji or to other web that you know. You can try taking them to the scrapyard but I don’t think that the dealer will give you enough cash for your copper and most of the time, the dealer only accept 1 ton of copper at a time which means that you need about 4000$ in pennies to redeem.

Well that sucks. You should of explain how did it lead to higher taxes, debt and deficits. The problem with mine is that since it was a small project, everyone had only 3 minutes to explain so it’s impossible to explain the whole thing very clearly.

I do go to public school but what I meant by that is that maybe the government talked to my teacher and said “If He tells the truth about money, then deduct his points and then I’ll give you a raise!”.

Every fiat currency is becoming worthless over time and then they collapse cause of inflation. According to Wikipedia, fiat equals government’s debt which means that every dollar created today is our government’s I.O.U. It’ll be better if our currency was backed by gold but make the gold standard happen today is impossible in Canada because Canada doesn’t have a gold reserve anymore. Fiat currencies are made out of thin air which makes inflation go higher and because of that, I rather hold something physical as my savings.
I didn’t know that! Thanks for the information about the last point!

• This reply was modified 9 months, 3 weeks ago by  Sumkid.

[snowriderMember]

Never accept the idea that gold or silver is too expensive. When I was 16 silver was $1.80/oz. Even then that was expensive. However, minimum wage was $1.85 and I could have bought 10 oz. a week if I would have had the forethought. Now today, silver may seem to be expensive, but in reality the prices today will seem just like the prices of 1969. Buy as much as you can, when you turn 40 you will be amazed at what you will have earned

[Keyser SozeMember]

Well ST96, congrats on being well ahead of virtually everyone in your thinking. My advice is firstly to stay as healthy as you can- eat healthy and live healthy.  Secondly, once you hit your 40′s (where I am), the value of family and good friends will be greater than you can probably imagine at the moment. Lastly, you will spend much of your adult life working in one way or another. Find something that you are truly passionate about, you will know when you have because if you are passionate about what you do, work will not seem like work, but rather pleasure.

[UglyDogMember]

Read, read, read and educate yourself.  Forget this find a job you love garbage.  That is the fomula for a life of financial struggle.  Instead, if you really want to get ahead, find a need and fill it.  Then get passionate about filling that need.   You don’t have to reinvent the wheel to do this.

I know many very successful people.  They have two common traits.  They are excited about their business and they do not fear failure.  In fact they have failed before and chalk it up as a life tuition expense.  Very successful people are not any smarter than everyone else.  They just are not paralyzed by a fear of failure.

Incredible opportunities available today.  You just have to have the self education and self confidence to take advantage of them.

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