Precious metals have been smacked below important levels. The last time this happened was months before the 2008 financial crisis, when the rich pressed down the price heavily in order to stack up even more.
The recent drop off has occured for two reasons:
- Price suppression by the rich to gain more.
- More economic tensions around the world, where people in other countries are switching over to our US Dollar for safety. You'll see the same thing happen here soon enough, but I would consider it probably the last great buying opportunity of undervalued assets.
Not everyone wants to believe this situation though, it seems. In '08, nobody saw it coming. And yet jobs were lost, people went beyond broke.
At the same time people went beyond broke, others that saw it coming positioned themselves and made a ton of money.
Chris Duane, creator of the Sons of Libery Academy who made millions through the market and running his family business, sold his house and left the business at the top of the housing bubble in '06 for around $400,000. He took a lump of that cash and turned it into precious metals, which slumped with the rest of the markets during the crash, and his business failed. 3 years later though, that $400,000 turned into over a million.
Now, not only are company executives selling their stocks before the crash, Robert Kiyosaki (author of Rich Dad Poor Dad, highly recommended) is selling his Real Estate.
Heck, I'm pretty sure my college apartments got a new owner as well earlier this year -- the new ones barely know how to service us.
The thing about money is that it's 100% scalable. You don't need millions to get started, you just want to make sure that your money is working for you, so that even when times are tough for others, you're far away from that stress.