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Comment by nikolay | Hacker News Reader

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> But an "asset" to lose 30% of its value in a day... Wow!

When prices are determined by speculation it do be do like that.

I bought back when it was pre-$15/oz. Though, for awhile it was fun to think I had $100,000 in my floor safe. But it's not a speculative investment, that's my "bribe my family's way out of the country" money.

If anything, I hope it falls low again, I haven't been buying any junk silver the last few years and I should have been doing that.

Strongly recommend not discussing specific amounts and locations online

People who buy gold are strangely careless, I have workmate who has bought gold with his savings and probably everyone who has spend more than 5 minutes in his presence knows about it.

Aren't Bitcoin (similar mindset) people the same way?

the problem, is physical security.

even if you have the best stash spot for metals, lipping off and flexing, in public about high end stuff is how you get tailed, and raided.

You think Apple's stock isn't also driven by speculation, just like any other stock?

No. Apple PE ~33 implies ~14% EPS growth over the next 10 years, seems achievable. YOY Apple is ~10% and silver is over 270%.

You offer explanations and excuses similar to those of the precious metal folks. The issue is that amateurs can now easily buy and sell on the markets - otherwise neither Apple nor silver would be valued as much as they are... were.

I can see that you are committed to your current level of understanding.

> Most of Trump's voters are retail gold and silver investors

I think you meant "most retail gold and silver investors are Trump voters".

I have a good enough sample of both Democrat and Republican friends; all my Republican friends have invested mostly in gold, and I haven't discussed silver with anyone, yet none of my Democrat friends have invested in precious metals... or maybe they just don't talk about it.

It seems like a bad idea to talk about how much gold you have, even with friends.

Wow, you really don't realize that your friend group is extremely biased to people with maxed out 401k's and more money than they know what do, do you?

Meanwhile, between 60 and 77% of Americans report living paycheck to paycheck. Sure seems unlikely that your claim that most Trump voters trade commodities is even remotely close to true.

Well, of course, we only discuss people who not only want to invest in precious metals, but can also afford it.

Nah, you don't have to vote for him to realize that his presidency will be marked by volatility and a declining USD.

Plus in a couple years he will announce that the Washington Monument will be torn down and replaced with a solid gold statue of himself, creating yuge demand.

Not a Trump voter, I bought gold last spring when Trump started trying to fuck with the Federal Reserve. I figured the dollar was going to be toast, and it paid off for now.

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