Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: The Ox who wrote (703)	5/5/2003 3:42:36 PM
From: EL KABONG!!!	Read Replies (2) of 4912

Hi Michael, In using the example of the Great Depression, I was looking at a worst case scenario. Traditionally, when we buy insurance, we are looking at worst case scenarios. We insure our homes for their total value, because in the worst case scenario, the entire home burns down. But in reality, most homes that suffer fire damage are only minimally destroyed. So, your opinion that a depression is unlikely may be quite correct. And should you choose not to "insure" against that possibility, your decision might also be quite correct. But I'm the type of guy who likes to think I'm reasonably prepared (or insured) for any contingency. So it logically follows that I think that everyone should own some small amount of precious metals, enough that one only need stash it in a secure location in one's home. If the value fluctuates over time, so what... I look at it as insurance, not an investment. Other people have differing and equally correct opinions. The issue is not one of trying to predict what will eventually happen. Rather the issue is the degree to which one prepares one's self for a future unknown event. KJC

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