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Silver Wheaton Corp. Message Board

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  • newguytrading newguytrading Mar 26, 2008 7:34 PM Flag

    Can Silver make your rich?

    My brother and I was talking about this just today. One thing you forgot in the equation is the tax benefit. Get loans that are tax deductable. The bigger the better. Big Ben is giving money away at negative interest rates. take the loan, get the deduction and pay it back over time with depriciated dollars. I know this is really what a guy should do but there is risk. I have everything paid off and I'm afraid if the bottom falls out of everything I wouldn't even have a place to live...In the future we will have very high interest rates. The going can get rough.

    Newguy

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    • Hey, I agree, you have to be able to sleep at night. My home is paid for and I will not put it at risk. However, I have about 50k on loan from low interest rate credit cards all invested in silver over the last 3 years. I was at the Las Vegas Coin show about a year ago and picked up a 100 oz .999 fine Handy & Harman Silver bar @ spot. I am sure glad I spent that $1287.00 on the silver instead of paying down my 3.99% Credit card loan.
      Cost of interest paid for one year was about $52.00.
      Price increase of my 100oz bar over the year...$558.00
      And, I sleep just fine at night with my $50,000.00 in credit card debt knowing I have the Silver to back it up.
      We all have to hold somthing, Federal Reservd Notes cost about 6 cents to create. $1 or $100 notes, still about 6 cents. I would rather hold Silver and owe FRN'S

 
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