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- - credit debt vs gold+silver (http://goldismoney.info/forums/showthread.php?t=318770)

firsttimmer | 11-03-2008 01:33 PM
credit debt vs gold+silver hello all..new to this stuff.But my question is should a person use debt to purchase gold and silver..Assuming tshtf.

King_Of_Kings | 11-03-2008 01:39 PM
Re: credit debt vs gold+silver Yes indeed...max those credit cards out!!

MystryBox | 11-03-2008 01:48 PM
Re: credit debt vs gold+silver No, be wary of buying a non-producing asset with debt. Some here were talking about buying silver on debt back when it was still a lot higher than it is now. Those people took a loss and are paying interest to boot, not fun.

Rebel Yarr | 11-03-2008 01:53 PM
Re: credit debt vs gold+silver Worth the bet IMO - on a 12 month no interest card. I did it a while back - lost a little if I sold right now - but still a good hedge - I expect it to pay off within the next 6 months. I would not - never - ever - buy PM's on a CC I would need to pay interest on - even a low %.

paker | 11-03-2008 06:44 PM
Re: credit debt vs gold+silver No debt for PM's. Use your spare change, or money you normally save. A fellow at work did just that, bought 100 oz Englehard's on credit when silver was at $17 and oz. He's hurting for money now and can't afford to sell his silver at what he can get today.

firsttimmer | 11-03-2008 07:39 PM
Re: credit debt vs gold+silver i thought with the silver premium's people are paying now that you could easily your money back if not make a profit..

CoinHunter53562 | 11-03-2008 08:30 PM
Re: credit debt vs gold+silver I would say no...I dont ever recommend going into more debt even if it could pay off nicely. What's the saying around here...debt = slavery?

highroller4321 | 11-03-2008 09:30 PM
Re: credit debt vs gold+silver I would NOT put anything on your CC unless you can pay it off shortly. No sense paying intrest! Also you cant count on TSHTF to "bail" you out of your CC debt. That time may never come and you could get yourself into a world of hurt...credit wise anyway.

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