4 dangers with silver stacking Hey everybody thank you so much for watching Yankee's stacking Today I'm going to discuss the 4 dangers with silver stacking Usually I usually try to keep my points to a nice dense 3 But there's so much to share you get a bonus one today And this video is primarily for the new stackers But if you are a seasoned stacker and you've been following my channel for a while I have a special opportunity at the end that applies to you too So stick with me through this video Also I want to start out with one of my favorite quotes from Mark Twain It's easier to fool people than to convince them that they have been fooled I want to say amen to that I've seen this first hand many times And yes even with myself too I'm not above learning I really value your comments that you leave down there so please You know teach me I'm never too old to learn And yes if you could like and sub I really appreciate that too So the first danger was stacking silver Expecting to get rich quick I keep getting emails and comments that just it boils down to this We got to be rich soon Yegi I just did a video on that topic not too long ago In many ways But nominally speaking it's not true Too many people are just playing a game of silver and gold is going to make me rich And I can understand that it's human nature For the masses to just run after the crowd to chase the hot hand I mean if you've ever been to a casino you know the mentality I'm talking about People have always always been vulnerable to get rich quick schemes Including the stock market That's a casino now folks it wasn't always that way Alright for that that's for another Yegi video No I am talking about those who pump silver And gold to some degree too as a way to make bank Right I'm not one of those people I'm not a pumper I'm going to tell you straight stuff that a lot of people don't want to hear And one of them is this stuff is not the road to riches I constantly tell people that specifically physical silver and gold It's not an investment or at least not in the traditional sense of the word So that's the first danger Don't get into this stuff thinking it's going to make you rich quick It just isn't It's a no-brainer for you know preserving your existing wealth You got a stack okay but no it's not a get rich quick scheme That's number one number two Don't stack high premium silver And yeah that even means to avoid purchasing poor silver As part of your stacking strategy Don't do it and yeah I know I have my Yankee round look at that Yeah I know it's it's poor silver it's beautiful it's fun I love it But guys this isn't stacking or it shouldn't be considered stacking silver No it's a fun way to you know support the channels that you love to watch Okay it's a great way to you know collect some really cool silver art But it's not stacking I told people that I've encouraged people not to buy my channel rounds I have another you know maybe another run that's coming hopefully soon I'd love to be able to you know have people buy my channel round But that's not stacking okay especially you new stackers out there You should be focused more on your your core strategy first If you don't have a core strategy you should get one okay You should do that first before you spend a lot of money on poor art At least that's my opinion feel free to disagree with me in the comments below That's fine I value every respectful opinion you put down there So again just skip the high premium silver for your stack Are there exceptions to that rule? Well yeah if you're a well off you know if you're well off financially Or you've been stacking for a while you have a very large base for your silver stack Then by all means have some fun you can even get some semi new mathematics silver It's all your money have fun with it do what you want but be careful with the bulk of what you buy So that's number two number three the third danger It's constantly wanting to exchange your stack Don't do that I've gotten so many emails from people saying Yankee I know you like gold should I switch my silver to gold? No no I don't do that all right stick with what you have Don't walk into an LCS and say I've got a bunch of silver I want to buy used to get gold You'll lose a cut that that LCS dealer will take every time you do that Buy some gold yeah obviously buy silver keep your silver don't try to keep exchanging it Now if you're you're playing the GSR the gold to silver ratio Yeah you can be strategic here you can try to exchange at the right time but remember That isn't a risk free strategy you'll still lose a little in the exchange And the availability of your target metal whether it's silver or gold That's still a factor and you need to account for that so be very careful when you want one metal And then you want another just buy what's available buy your silver and gold don't don't exchange it much It's just not a wise move and the fourth one the last one it's primarily for the preppers out there I'm a prepper stacker but I'm also a prepper myself and I have to say I do feel a little vindicated over the past few months I'm not happy okay I'm not happy people need masks or seeing food shortages I'm a patriot I mourn the fact that we're starting to need our preps But I'm going to tell you right now silver and gold are not not the first things you should be prepping Or at least being prepared for so hear me out First thing is you need to reduce your consumer credit card debt if you haven't Especially the revolving debt get rid of that stock up on food first You know ensure you have an alternative water supply an alternative electrical supply An alternative heating supply especially those up north and during certain cold times of the year Ensure you've got good shelter good protection these are far more important to have in place as your prep before this stuff All right very important now I know I threw a lot at you but I hope these few tips will you just help you avoid some of the dangers in stacking Especially stacking silver and to stack wisely and finally the opportunity I mentioned earlier if you're wondering what would Yankee do with a specific precious metals purchases Or or or another investment areas or even with prepping a membership in my channel might be of interest to you One level the Yankee Canon provides direct access to what I do specifically with gold and silver and other investments too And my prepping as well I'll share snapshots of my financial portfolio with you How I invest my harder and money with mining stocks private mortgage lending and other areas Now this is not paid professional advice okay this is this is a hypothetical what would Yankee do if I happen to be in your shoes You still need to do your own research and make your own financial decisions but if that does interest you consider a membership in my channel But regardless of what you do or not do with a membership thank you for watching my channel and this video I hope it's been helpful to you And most of all I hope your day is a okay you