It started many years ago when I read Rich Dad, Poor Dad by Robert Kyosaki. I remember being very anxious after reading the book, that I was not investing in businesses(passive income) and hadn’t managed to buy any gold and silver. I dove into a number of his books and learned some valuable lessons. One of them was that he was correct about the crash that he predicted in 2007.
Once I picked myself and family off of the floor from the loss of my job in condo development, I knew that I felt vulnerable. I knew at that moment, I never wanted to feel like I wasn’t self-sufficient, ever again. Skills is what I needed and many of them.
The next few years I read up on survival skills, pictured myself and my family in situations and found solutions to those unfortunate issues that come up when things get very tough.
What happens when the lights go out for an extended period?
How do you cook without electricity?
What do you use for currency when banking machines are down?
Asking some of these questions, solidified my desire to be a lot more self-reliant than I had been. This is when I started buying silver.
My theory was, in the past, gold and silver were always the fallback during periods of lack of trust in the fiat currency. Because silver made sense for me to buy smaller amounts on a regular basis, it is what I focused on. I started buying privately, then moved to a reputable Alberta company.
I also learned that EFTs were just I.O.U.s and if you don’t hold the metal, you really don’t own it. This concept is still foreign to so many people and I am afraid that the eventual bursting of the bubble will take many people by surprise.
Since inflation is really just a reduction of value, caused by excess printing of money, holding fiat currency as a store of wealth when the SHTF, may not be very prudent. This was explained to me many times before I finally understood the analogy.
An ounce of gold, worth $20 and a $20 bill(in 1920) are buried in the backyard. Dig them up in 2025 and the 1 oz of gold is worth $3394USD and the bill is still only worth $20.
For thousands of years, precious metal has been a solid store of wealth.
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Specific numbers that were revealed in the study conducted by The Silver Institute, for 2023:
In 2023, global silver demand reached a new record high of 654.4 million ounces (Moz), driven by increased usage in industrial applications, particularly in the green economy sector.
Despite a 7 percent decline in total silver demand to 1,195 Moz compared to the previous year, industrial demand surged to another record high, led by the electrical and electronics sector.
Silver mine production decreased slightly by 1 percent to 830.5 Moz, while silver recycling grew by 1 percent to 178.6 Moz, accounting for 18 percent of total supply.
I really like to support local businesses and when it comes to my precious metal purchases, I use a local company here in southern Alberta, Nugget Stacker.
They were the first in Canada to offer a monthly gold or silver subscription where you purchase a portion of gold or silver each and every month and when you reach the agreed amount, they ship it right to your door. This is a great way to avoid waiting for the right time to get into the market.
I am grateful to have started when I did, but the next best time for you or a family member to get started is now.
I am sure that you will find this store of wealth as beneficial to you and your family as I did for mine. It really creates a peace of mind, knowing that in good times and bad I am not dependant on government or banks for our wellbeing.
