The enemy doesn’t simply control the chart, they own the chart. They are the chart.
from The Wealth Watchman:
Before I even begin this final part of the “Mental Training” series, I want to briefly re-post something I wrote in part 1, on September 17th:
“Expecting that you can calm all your fears about lower silver prices, if you can merely identify where the “strongest price support line” is on the charts, is a recipe for heartbreak and disappointment. It is a false comfort that will leave you cold. Every. Single. Time.
At this point, after the last 3.5 years, thinking: “It’s ok, because “X” price support will never be broken, it’s just too cheap beneath there”, is the stupidest thought you could possibly allow yourself to entertain.”
“It was a heartbreak for silver stackers at $32. It was a heartbreak at $26. It was a heartbreak at $22. It was a heartbreak at $20. Unbelievably, I sadly still see many who are referring to $18 as “unbreakable support”.
Don’t you dare let yourself be one of the few who refuse to learn the invaluable lesson: that the enemy doesn’t simply control the chart, they own the chart. They are the chart. They will take it wherever and whenever they believe it will do them the most good, and you the most harm.”
Uncanny, isn’t it? I wrote that just two days before the enemy broke the “strong support” at $18. In fact, I started this entire “pep-talk” series back then, because I had a feeling in my gut that the banks would break that line. Just two days later, that’s exactly what they did. Again, you are the real target here, not silver. Do not allow their crimes to crush your spirit, but rather make their weapon your great comfort.
How to Buy Silver(and Gold)
Throughout this series, I’ve spoken of ways to train yourself to withstand a long, drawn out siege by the bullion banks. For the most part though, it’s been a series about how to properly defend yourself. There are steps you can take to manage your expectations in the face of continued price slams, as well as false alarms on the world scene. This is necessary if you’re going to maintain composure and focus, as the bankers and politicians attempt to draw out the economic collapse in the West.
In this final installment of the “Mental Training” series however, I’d like to address how to go on the offensive! After all, silver and gold are the recipients of constant bombardment by HFT trading algorithms in Wall Street, because they are the best competitor to the fiat/debt system that those who run the financial system have set up. The big banks would prefer you not own any precious metals, especially silver.
Many in our community have called silver the “Achilles Heel” of the banking system, because it is such a tiny market, that it takes literally trillions of dollars to control it, and hold it down. It is the jugular vein of this teetering monetary system, because if adequate supply isn’t available for delivery, then the banks lose control of its price, and the masses lose faith in the US dollar’s and treasury market’s viability.
Remember though, if the banks fear silver, if the globalists fear it, if the U.S. government fears and loathes it, then it stands to reason that silver’s exactly where we need to be. Yet, there are many who’ve made mistakes along the way in how they attempt to acquire their silver. I will address some key mistakes below, so that you can avoid these pitfalls. If you’ve made some of these mistakes yourself, don’t feel badly, as I myself have made one of them(keep reading to found out which one).
I cannot stress this enough: please avoid all debt if you intend to buy silver. There was a campaign which started in early 2011(when silver was screaming higher by the day) to open up a new credit card(or two), and charge those cards to buy as much silver as possible.
This is a terrible idea.
Sure, it was fun while silver was rising, but as silver was napalmed in early May of 2011, and the good times were gone, all that those poor folks were left with, was a pile of high-interest loans, and depreciating underlying capital. As the scheme backfired, some were forced to liquidate their silver holdings in order to pay off as much credit card debt as they could. This didn’t always help.
In a worst case scenario, let’s say they’d opened a line of credit for, say, $10,000, and they’d bought silver at roughly $50+ an ounce, only to see it whacked to as low as $26 within a few months. In such a case, even the act of selling all the silver they’d bought would’ve raised only $5,000 to $7,000, leaving them a sum of $3,000 to $5,000 to repay, with nothing to show for it.
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