if he wants leverage there are much safer ways to achieve it.
hi silvertoad and thank you for your observation.
i understand what you are saying, but i don't know enough about leverage in the market to even comment knowledgeably, so i just buy physical and pslv in the ira and hold on.
from reading articles like the following from by Catherine Austin Fitts and Carolyn Betts, GLD and SLV, Disclosure in the Precious Metals Puzzle Palace, i can deduce that etf's are not where i want my wealth to be.
solari.com
my brother is listening to "advisors" who first advised him to buy spxu last summer in the $30's (we all know how that turned out). he won't listen to me, because i'm not an expert.
if i sound a little annoyed, i guess i am. i started buying physical in '06, to everyone's amusement in the family. about '08, i asked him if he'd considered buying any physical, and he brushed me off with a wave of his hand as if the very idea was ridiculous.
now, of course (since late 2010), he's all on board with physical and the double etf's since he found an advisor who would take several thousand of his dollars to give him information that is virtually free on the internet.
the good news is, he has now bought some physical so he has that protection. in fact, all in my immediate family are now buying physical and for that i'm grateful.
edit-
here's another real good reason to stay away from the etf's (unless you really know what you are doing)....
As 88% Of SLV Shares Outstanding Trade Yesterday, The "Silver Put Buyer" Generates A 68,294,229,502,717.3% Annualized Return
zerohedge.com |
