My attitude about buying metals was all wrong back in 2010 when I started. Then, it was an investment, rejoicing all the way up to $50 silver, keeping a detailed spreadsheet of all holdings, sorted by coin, bar or sterling with purity percentages built into the spreadsheet all multiplied against the spot price updated several time per day. I knew to the penny how much fiat I had earned with my investments in metals.
Yes, my thinking was wrong, very wrong. If I simply want to invest and make fiat, why not trade options in the wake of the FEDs bubble pumping? One could have made a bunch of fiat on the POMO days and I hope many of you did.
No, the metals investing has to be understood as long term wealth preservation, placing our treasure in wise foresight of future provision for those we love. For my entire life I have been taught that dollars were money. Nobody in my family really understood the ramifications of the ending of Bretton Woods, even though the 1965 quarters were notably different than those from 1964. But my parents didn’t teach me (they didn’t and still don’t understand) and deep down my belief in paper has persisted to this day. It is dam* hard to shake. I suppose that is why I don’t carry cash and keep a silver coin on my desk at all times. The retraining of my mind with regard to real money has been difficult and not altogether successful.
I am angry about metals manipulation, fearful of life in an apocalyptic world, exasperated at relatives who won’t read the news and who think I am a conspiracy theorist, and wishing the big reset would get here and be done with it.