Friday, April 15, 2011
No seriously you guys. I'm a big Robert Kiyosaki fan and if you have't read "Rich Dad, Poor Dad" by him, go get it now.Rich Dad Poor Dad: What the Rich Teach Their Kids About Money-That the Poor and the Middle Class Do Not!
He's been telling everyone that the US dollar is headed for serious collapse (along with everyone else), and he's been advising buying Gold and Silver as a hedge to protect against the devaluation.
So, I went and bought some silver last year, and a little more two weeks ago.
Last year, around April, I bought some silver at $20 (spot price was $17).
Two weeks ago, I bought some more at $40 (Spot price was $38).
That is to say that silver has more than DOUBLED in the past year, and I am of course mad at myself for not buying a lot more last year.
However, here's the thing- TODAY, silver is at 43. So that means the silver I bought TWO WEEKS AGO is now worth about $5 more today (43-38). So, without doing ANYTHING, I have made more than $5 per piece. Are you listening to that?
And then GOLD went up today $10- so you would have made $10 per piece just today!
However, with gold at $1489, the percentage is only .72, whereas today's move on silver was 2%.
You get that? So, you are better off having silver in your earrings than money in the bank right now!!!!
I had to tell someone.
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