Saturday, December 17, 2011

Latest Smash Takes its Toll on SD Reader

We thought we would share something we received last night from SD reader T, for the purpose of allowing the SD community to encourage him during a difficult time when circumstances have forced him to sell his phyzz.  SD is becoming a community of like-minded investors, and The Doc would appreciate any encouragement you can provide to T.   I will include my response as well, but at times like these, the reinforcement of sound advice and encouragement can do wonders to treat discouragement and despair.

T writes:
Hey Doc. I'm taking a break from silver for now. Not sure how long it will be for.
A couple weeks ago I was driving home from a meeting like I do every night going through a green light and got smashed. I think the young girl that hit me was texting. The cops wrote her a ticket and I have witnesses but her insurance is still playing games. I went to the emergency room with a concussion and strained back. My car was totaled. I'm doing o.k. now but I had to get a lawyer. I also had to sell 200 of my 1000 ounces. I sold two one hundred ounce bars. I'm not parting with my eagles. I got a good car though. Honestly what is making me take a break from silver is seeing the cash I got when I sold. I've been living on oatmeal and frozen dinners for a while spending my money on silver! . I'm low income. I can actually eat at restaurants now. Well, I'm not trying to make a sob story and I thought I was as much a silver bull as anyone but this latest smash down has me on my heels. I know I'll be back though.  I've also noticed my comments getting a little to intense and personal. AA has taught me to be very humble, I am in real life but not when I leave comments. Well, I wish you the best and keep up the great work!

T- extremely sorry to hear about your accident- I hope you heal quickly and make a speedy recovery.  There are definitely much more important things in life than gold and silver- namely God, family, and health.
From a financial standpoint, that's rough that circumstances forced you into liquidating your physical at a time when the paper price is undergoing a correction.  At least you have 800 ounces remaining-that's far more than 99.9% of Americans have and will still leave you in an excellent position to survive and prosper a collapse of the fiat western financial system.
The hardest thing in a long term bull market is to be right and sit tight.  The corrections are violent and severe, and will throw off all but the most determined holders who are 100% convinced about the fundamentals of their holdings/ investments.  Have faith, take a break from the markets for awhile, and sit tight if you can.
All the best in your recovery.