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Last week, I asked my readers to tell me what
it's like when they try to convince their friends and family to
buy silver and gold.
What do Your Naysayers Say?
(Why won't your friends and family listen?)
http://silverstockreport.com/2009/nay-say.html
The letters poured in. They are all very good.
Another thing we need to warn against is the foolish naysayers called
"financial advisors". Very rarely will any of them
will ever point you to gold. They will almost always knock it.
They are the blind leading the blind.
Anyway, here are the letters, with my responses in ALL CAPS, where
needed.
__________
why not gold ?
4 arguments against
- well shit, if it all descends into martial
law and cannibalism, I don�t
want gold � I
want food and toilet paper
- if the global fiat money supply implodes into a
black hole, no one will have an money to
buy gold or anything else
- governments can vaporize your gains via taxes,
controls, confiscation, and outright theft if absolutely necessary
- gold is entirely irrational, serves no true
useful purpose �
unless you count making beautiful women happy
__________
My experience with those unaware of Silver as an Investment
My experience talking about silver produces the
same reaction when I bring up the UFO mystery.
·
The evidence is there if you go to the
trouble to look, but only a handful actually do.
·
Of the handful who are impressed with
the evidence, most become distracted with mundane demands for their time, and
never get started.
·
Of the tiny fraction who say they are
going to buy, only one has actually gone out and made a purchase on his own. And
that individual manages a scrap metal processing plant!
·
The rest expect me to get them the
silver which I do. Otherwise, they would never do anything either.
__________
They say:
1.
Gold is expensive now, so it is a bad
time to buy.
2.
Gold will only go up if it is the end of
the world, and if it is the end of the world then your Gold won't save you.
3.
If you buy Gold and Silver then you want
the financial system to collapse and you are a bad person.
4.
You can't eat Gold or Silver.
5.
You can't buy stuff at the store with
Gold and Silver, and you never will be able to again. Credit cards,
Debit cards, and electronic transactions are the future, Gold and Silver are
what our primitive ancestors used.
6.
Your Gold and Silver might be stolen, so
they are less safe than an FDIC
insured bank account.
7.
The Price of Gold and Silver are way too
volatile, I can't invest in something so erratic and dangerous.
8.
The stock market has recovered 50%, you
should have put your money there.
9.
The Housing market has bottomed, now is
a good time to get back in, instead of buying Gold and Silver.
10. I can't pull any of "my money"
out of my 401K, so even though I believe you, I can't invest. I'm
locked into the Stock Market. I have to hope and believe that things
will get better and everything will be OK.
11. Things are tight and we need to save
money right now, so we can't afford luxuries or get-rich-quick-schemes like
Gold and Silver.
12. You have been brain-washed by the Gold
and Silver Sellers, you have fallen for their sales-pitch.
13. Gold is useless. What is it good
for? What does it do? All it does is sit in Vaults all day.
__________
Hi Jason,
I come from a family of eleven children. Last
Christmas each brother or sister recieved a
card wishing them the best and was decorated with a one ounce silver round
taped to the inner fold. I told them that silver was about to take off
and they should invest in the market. Only one sister came to me
with questions and was seriously interested -- never a peep from the
others. Spot price of silver last December was somewhere under ten
dollars per ounce. If they had only listened,right?
Well, this year they are going to get another silver ounce taped to the inner
fold -- do you think they will listen now?
__________
j --how DO we spend it if we have silver and gold who will take a 1oz gold coin
for groceries, give me some insight. that is the most important ? i get, plus i am not sure
myself --tks.
__________
Hi Jason,
·
I tell them it was FREE!!! let me
explain.
·
I have been a collector since the age of
8, and at 41, I still collect, but over the last few yrs, I have bought more
and more silver coins that are either semi-numismatic, or non-numismatic,
based on their silver content alone. I buy as much "junk"
silver as I can afford, but mostly foreign. I get it at melt value or
sometimes even below melt.The variety of coins is
fantastic, I usually get at least a few coins I have never seen, learn a lot
about their history, and of course, accumulate a nice collection of foreign
coins (they call them "world coins" now? maybe a PC thing?).
They are just as good as major mint bars, if not more, because their
authenticity can be validated by any coin dealer in the world with a Krause
book and a scale. I organize them, tube them, and write the purity on
the tube. All I need is a scale or some 3rd grade math, and I know the
absolute silver content, and thus, the value (of the silver -- some
have lots of copper too -- a bonus :)
·
Every now and then, I bring an
interesting coin to lunch where I work, and show a couple of close
friends. One of the things I say when people ask me what I paid for
them is that I paid NOTHING!!!! They were FREE!!! I get the
strangest looks, but I then explain my "numismatic math"
·
I explain that since precious metals are
the only REAL money around, and since the paper (fiat) money is going to
eventually be worthless, I am just moving my risky fiat money to something
more stable, REAL money of equal worth (at that time), but that will never go
to zero. I further explain that not only is it FREE (because I have all
the same value in worth as when I started - if not more with the recent
uptrend) but the original country that paid for the mining, melting and minting has already paid my "seniorage." So I just get the final product without
production costs.
·
I have a close friend that likes my
coins. He was always asking me to sell him some of my neat coins, but I
always say that I don't sell my coins. One day I brought in a beat up
old silver eagle that was not real pretty to look at. I said "just
hold it -- whenever you want, you can pay me melt value for
it". He put it in his drawer -- . silver was 14.25/oz then.
It is still in his drawer, and he is kicking himself for not buying it
then. About 3 weeks ago, I called him from my local coin shop and said
that they had a 20 balboa that I could get for him at melt (I was buying a
large lot at melt, and the premium would be waived for this semi-numismatic
coin because of my relationship with my local dealer, and the size of the
rest of the purchase). He agreed, and got himself a nice 3.84 oz ASW 20
balboa from Panama. at $16.25/oz. Today, he is very pleased with his
choice, and he is now checking eBay daily for world silver.
·
Creating Silver bugs -- .. and saving
the world -- .. one ounce at a time -- ..
__________
Hi Jason -
Thanks for the opportunity to share experiences with
you on this question.
·
The only person I have ever really convinced to make
a serious investment in silver is my wife. She started buying silver in 2004
from her own finances and today she has a very high percentage of her
net worth in silver and related precious metals
investments. Of course, it has worked out very well for her - so well she has
become a real believer in silver.
·
In fact, six months ago she gave a speech at her
local Toastmasters group suggesting silver as a good investment. I have
attached the file so you can see what she said. She was limited to 5 to 7
minutes and it was a very new idea for most of her audience. Also, the
financial crisis was still very fresh in people's minds at that time (end of
May). The comments she received back were quite positive and her use of a 1 ounce
Maple Leaf silver coin as a
"prop" for her speech was very effective.
It is important to point out that my wife is a very
practical person and she always expects good value before she parts with her
money. Although she trusted my judgement in 2004, I
think she could instintively relate to purchasing
something beautiful, useful and enduring as an investment - especially when
it seemed so inexpensive relative to its merits. As an investor she is
willing to get away from the mainstream ideas and is willing to take well
thought out risks - to "think outside the box" as the expression
goes.
·
I find many people are coming from a basis of fear -
especially the fear of "looking stupid" (what if I buy and it goes
down - tomorrow - or next year??). Also, many people are somewhat mentally
lazy. As Jesse Livermore pointed out in Reminiscences of a Stock Operator many
years ago, people would run out and buy a specific stock based solely on his
say-so with no explanation but would get bored and annoyed if he tried to
tell them in detail why he believed it was a bull market - which was far more
valuable advice!
·
People believe what they want to believe. Sadly,
many people will wait until silver becomes "respectable" or
mainstream before they buy.
I trust this feedback is helpful to you.
All the best,
__________
I do not try to push this to others. One good friend
understands as a veteran and geologist. He has been out of professional work
about a year. So when he declined my subtle suggestion to acquiring
gold he agreed but said he could not afford it. So I then said how about a
little silver? It is much lower in cost and increments.
Aside 1:
When FDR said that citizens must turn in their
domestic constitutional gold currency for dollars or be threatened, most did.
Of course nusimatic coins and I believe up to $100 face value in gold coins could be
retained. My father explained that his parents could have
retained $200. This was impossible, I had seven other brothers and
sisters, the depression was on and your grandparents just didn't have
that 'extra' money to keep. We had to buy food and the essentials. Bread was
a nickel a loaf back then. We could bearly make the
rent but had a big garden and fruit trees.
I vowed someday I would acquire one of those
"Double Eagle" St. Gaudens and show it to
my father. I did several months ago and he was pleased.
Aside 2:
The other item I wanted to acquire was the old US
currency with gold ink. The wording on it said it all in the terms when paper
had a real promise from the reputable US Treasury. It is imprinted for a
Twenty Dollar certificate (1922) reading: This certifies there have been deposited in the
Treasury of the, United States of America, Twenty Dollars, in Gold Coin, payable to the bearer on demand
Attached is a photo of the certificate.
Keep up the distribution of your teaching
__________
Jason,
I got my parents into silver and gold back in the early 70's when silver was
about $1.50 and gold under 100 per oz. To say the least they did OK over the
years. I only talk to potential gold and silver investors about the
advantages of protecting assets or capital in precious metals
when asked. I have found it far easier to talk about it when the
potential investor is already primed.
One of the best convincing explanations I use is to pull a silver 25 cents
out of the bucket and say: "When I was starting college in the late 50's
and through the early 60's I (making it personal) could buy a gallon of gas
with one silver quarter. One can still buy a gallon of gas with a US silver
quarter. All you have to do is bring the silver 25 cents in here and I
will give you at least $3. Then you can go out and buy a gallon of gas.
Bottom line; real gold and silver money maintains it purchasing power through
time."
Or I might say one can buy a new 2009 Ford with the same amount of gold coin
as one could in 1929. The examples are endless.
Don't forget to get the book "They Own It All (including you) by
MacDonald and Rowen, MD. ISBN 1-4392-3361-6.
You can get it through
Republic Broadcasting: http://republicbroadcasting.org/zencart/index.php?main_page=product_info&cPath=4&products_id=51
__________
Mr. Hommel:
Thank you for sharing God's Word with us
and your experience with precious metals. My family says gold is
too expensive and silver isn't liquid enough, so I'll keep sharing your
emails. Marc
__________
Hi Jason,
They say they don't want to buy gold as it is at
the top and they don't want to buy at an all time high.
You raised a good point about touching
it. When my wife and I handled our first silver coins it was
self evident that we were holding something of value.
I look forward to your writings. We are fellow
Christians.
Thanks,
__________
What family and friends say about silver.
Hi Jason,
Back in 2002 I urged family members and friends to buy gold. The Daily Reckoning newsletter at the
time was my inspiration. I also told them that Fanny Mae and Freddie Mac as
well as Citigroup would have difficulties. They thought I was weird, a bit
into conspiracy theories and "what are you worried about", "it
will never happen", "our pollies would
never be so dumb". We didn't buy gold ourselves as we were about
to drop a baby, had to move states and my husband no longer had a job. One
family member just ignored me.
Again about a year ago I urged family to buy gold. My parents just lost
many thousands in a mortgage deposit investment backed scheme through a large
bank (I think it was ING). They said thanks for thinking of them but did
nothing. Other family members* - same as before just ignored the advice
and told me to stop sending them any emails on the subject (and I send only
max a few a year on any conspiracy/investment sort of subject!). Other
relatives members* also took it in their stride and said "the lord will
provide - what will be will be. *means they believe they are good christians who regularly practice their faith and go to
church. I on the other hand am spiritual but not religious. I do
believe in God but any Church and religion that indulges their congregation
to switch their brains off, apathetic (because god will provide), become self
indulgent, greedy, uncaring, opportunistic at the expense of others is really
a waste of my time. Miracles do happen but the expression in everyday life
"God helps those that "help" themselves - in a positive way is
more appropriate.
In reality in Australia people just hear that it is a "US" problem.
The rag and box do not paint a picture of what is really happening in the
world, and for those whose life is swimmingly okay, there is no need to contemplate
the problem further. To do so would take up their valuable time which they
have otherwise set aside for "more important things". Only fringe
dwellers who are intelligent but not well off (and so treasure the little
that they have) take notice.
More info on how this thing will affect all peoples of all the world -
especially those countries doing "well" would be useful.
Thanks
__________
Jason, your passion, intelligence and commitment
propels you to forward your mission.
This 80 yr. old guy has one couple of close
friends buying gold from XXX whom I buy my little orders of silver
from, for the past 8 years -- It was Weiss research that I was reading
that started me into the precious metal buying.
Wish I had started 20 years before.
Now, I tell my closest friends and family what I am
doing and what I believe will befall our society very soon -- But I do not
tell or advise them what they should do....they are all educated and literate
and should figure it out...
I know I have already irritated some with my
opinions.
They, I believe, are becoming somewhat alarmed by
the debacle heading our way.
Perhaps, many of them will find it too late to take
measures to protect themselves.
Our nation has been conned by one of the most consumate con men (and there have been many) that I have
seen in my past 70 years of awareness -- I think back to FDR.
I am an old Jew who still cannot understand how 87%
of my fellow Jews voted for Obama and who still loved FDR after he turned
away the St. Louis with 900 Jews and sent them back to the concentration
camps.
I think you are a wonderful spokesman along with a
few dozen more folks promoting the value of precious metals. Frankly, it has
been the best investments I have made in these many years.
Do take care of yourself and family.
A Merry Christmas and Happy New Year to you.
__________
AFTER MUCH EFFORT I HAVE CONVINCED ALMOST EVERYONE I TALK TO, and that actually listens
that the precious metals are the way to go.
Unfortunately, even after they mentally get it they still don't act. I
actually came across a slam dunk easy as pie $100 free money deal that took no effort.
I told probably 20 people about it and only a few made the simple phone call
to take advantage of the situation. I guess many people are just not
very open to the idea of protecting themselves. I have managed to get
three people to act and they have many thousands (nearly hundreds of
thousands for one of them). It took years and they could have made more
but at least these three acted. One person I told to buy silver
when it was just over $4.00 an ounce said it was too heavy to lift so they did
not buy. Another very smart person who I actually got into the last
great gold rush (late 70s to the peak) took forever to get on board the train
this time around but finally did after silver had already hit $21 and fell
back to around $10. Hard to figure. Another person I sent
articles to actually talked
to their "financial planner" who told
them the move for the metals was over. Of course, the fool never bought
an ounce when it was $4.00 an ounce for silver and under $300 gold but now
was an expert at saying the run was over. Go figure.
__________
First off
My father lost a lot of money in the stock market in 2008, I told him in the
summer of 2008 to get his money out because I think the market might
crash. He laughed at me and told me "why don't you leave those
things to people who know what they're talking about." Recently I
talked to him about Gold and Silver he asked, "Well is it a
risk?" I stupidly replied, "Well, I guess anything is a risk
but..." He immediately became turned off and I learned he invested
into "less risky" things like bonds. Oh, great.
He is a great man who has served this country and loves his Lord. I am
his 25 year old son, but I don't think I have earned his respect. How
can I get him into Gold and Silver?
The number one objection I get to investing in Silver and Gold is: "I'd
love to but I don't have the money right now"
That's my roommates, that's my girlfriend, that's my boss. Even if they
have resources they just try to dismiss my arguments because they don't
believe the economy is going to get worse. I just think to myself how
easy it is to get a silver coin and wonder why.
And this last part is to thank you...
Jason you are an inspiration. I started getting into silver in the
spring of 2008, right around the time I started looking into Ron Paul.
Then I convinced a friend to buy 100 ounces of silver with me and he sent me
a link to your website. We keep buying. We are recent college
graduates beginning to invest but I'm becoming a zealot and I love your newsletter.
I remember reading one of your articles dealing with the biblical morality of
sound money and it clicked.
Just like when I watched Ron Paul in the presidential debates and became a
libertarian, I always knew the truth and your arguments make sense.
When you know the truth and God inspires you its
like you can't help but speak the truth. I talk to everyone I'm close
to about God, politics and silver. Your newsletter is an
inspiration. VERY FEW listen to me but they can only dismiss me because
its hard to believe. When I talk to my
roommates (who voted for Obama) they laugh at me. So I give them weekly
updates on the price and their interest perks a little more each time.
Thank you for your piece of truth in this world.
__________
Let�s see. Upward battle, for sure. Out of ten to
fifteen friends, two of us have a small amount of metal, say
50,000 It is hard to carve out that kind of money. After
discussing many, many, times; here are some of their arguments.
1.
No longer money, not tangible, i.e. cannot trade or sell at a moment�s notice. Like it needs to
freaking pop out of an ATM?
2.
Need some type of exit strategy, once you make the online purchase wait
months for delivery then securely store it, how are you going to sell the
heavy metal?
3.
No knowledge of metals AT ALL. Unwilling to listen to your (Jason) and other
reasoned arguments. Jeeze�.just do the math.
4.
Low price of both silver and not so much gold now, but my friends
appear to be extremely frightened of market manipulation. I argue that most
holders have PAPER and we all know the intrinsic value of a munched up
tree.
5.
Ok, sad to admit, but some of them at work actually mailed in �broken and unwanted gold jewelry� Man, I wish I had come up with
the cash for gold idea, but do not think I could have taken advantage of
folks so terribly.
6.
Lack of media coverage. In one breath the media extols gold and in the next
claims it is a horrible investment idea, likely to plummet to pennies on the
dollar. Hey�just
like the real dollar.
7.
Sadly, comments that the government will fix the problem, or mumbling
about going down with the ship. Has no one seen the new debt clock?
Cannot wrap my mind around those numbers.
Anyway, just some of the stuff I have to wade
through with tall boots. I really enjoy your emails Jason, they are
extremely well reasoned, and seem to be getting better all the time. Of
course being right does not hurt does it? Lately, it feels like
vindication. I think the biggest problem facing most folks is the lack
of an ability to buy small amounts of gold and silver as they receive their
paychecks. I remember buying silver junk coins back in the early 90�s every time I got a check for 6.00 an
ounce. And I would buy one or two coins every payday. Was a broke college
student at the time, and carving out the money is the most difficult aspect
for most people I have met. As we get older, not so hard, but many,
many, folks are struggling and gold and silver has been so disrespected
and derided by the government and economists, that people have a tough time
believing that they can successfully buy and sell heavy metal. Again,
you have really helped me and although I have not been able to put away as
much as I would have liked, I do have physical metal and you have helped
convince me to double my efforts to obtain more. If small amounts of
metal were available to everyday folks (not unlike the coin operated gold
dispensing machines in Europe) and a way for people to freely trade in the
metal, it would help our cause. Although, the damage to the national
debt and the dollar may have taken care of that issue for us anyway. I
am in the high Rocky Mountains, so nothing like your coin shop exists for us.
We pay shipping via secured FedEx. Anyway, thanks for
everything you do,
__________
Convincing
·
I've tried to tell people, trying to
make sure at first they have some degree of reasoning power but I have found
that no one does their home work when it comes to metals. I hate to say this
but I've found most people dumb ignorant and stupid when one trys to tell them about the benefits of buying metals to
protect them selves and wealth. At first they
attentively listen then you can tell their attention span has been lost, its always yes but -- theyve
always got something to do but never consider silver or gold for their
general welfare. They figure as long green bucks are spendble
why should they? I found most people live for just right now. They just
cannot take the time to investigate. The hardest most unteachable
lesson one can present to others is how one can change their future and
entire life through considered thought then follow up action. In this case
the considered thought is metals and benefits for owning them. "Well if thats all I had to do was to sit around and think of ways
to get rich Id get rich to" was one stupid sarcastic comment. Most
people never read, they have tunnel vision, they think the US fed is going to
always take care of them. I say think Katrina. Shakespeare once said "wisdom is
obeyed like a command to cats" so very true.
__________
Hello Jason,
I'm responding to your article requesting input
concerning what friends and family say when the subject of PM's is brought
up.
By far, the most common response is a deafening
silence. This is primarily because I live in Shanghai, and the rest of my family is on
the other side of the planet. I rarely get a chance to talk with them
face-to-face, so they can choose to explicity
ignore what I send to them in my long emails concerning the fast deterioating financial structure, and instead respond to
other things I might have mentioned in my emails, such as "Oh, good to
hear that your weather is better than ours over here. yadeyadeya..."
However, I have found that face-to-face meetings
with friends and family can be dangerous. Why? Because implicit
in the explanation of why PM's are set to soar, is that the dollar and the US
economy are NOT going to recover, at least anytime soon, to put
it delicately. This threatens some very well-defended comfort
zones.
Often, there is usually no direct argument against
PM's. Rather, there is the faith of those that wish to hold on to
comforting beliefs that the economy is on the mend. Here are some
samples of the usual responses I get, compiled into a fictionally
consolidated response...
"Hey, look at the stock market recovery since March, up 65%! And there's still a lot
of money on the sidelines - and when that comes back into the markets - we'll
be cooking. Real Estate down? Yeah, it got a bit overheated, but
it'll come back. Real Estate always goes up over time, and as soon
as it bottoms, there's gonna be some
killer properties to pick up cheap.
Dollar's going down? Excellent! It'll make all our exports
cheaper, and then all the jobs will come back to the US.
Gold? Yeah, gold's going up, but it's in a bubble - it'll crash as soon
as the sideline money moves back into the markets.
Silver? Who wants silver? I can understand some people
wanting gold, but silver is nothing but an industrial metal. It's
cheap. And if what you say it going to happen, what with your global economic collapse and all, there'll be no industrial need for silver
- so it'll be totally worthless.
So, I appreciate your warnings and advice, but yaknow
- you need to lighten up and get out of your Doom and Gloom mode.
Honestly, people are starting to worry about you. When are you going to
get normal?"
When I then go through the ugly fundamentals,
regarding skyrocketing governmental debt, defaults/foreclosures/bankruptcies,
Fed monetization, the fast-approaching twin tsunamis of commercial real estate
and ALT-A Option ARMS
busts and steadily rising unemployment - and how that will play out in a
collapsing economy, they get angry. One friend kicked me out of his car
in the middle of the street, shouting "Don't tell me this! I have
family!"
So now, I don't speak much about it anymore. I
recall a quote by somebody that I can't remember that captures the dilemma
very aptly: "Never destroy a man's faith without replacing it with
something equally mesmerizing."
Hope this helps.
Cheers,
__________
Dear Jason:
A most interesting question indeed, how can people
be convinced that holding Gold/Silver is practical or even common
sense? We have been brainwashed by the Govt
pure and simple.
I have been holding for a number of years now
convinced that our Govt will fail
financially. The book of Revelations could not conclude if this were
not so. Israel will hold off the whole world all by itself says the
Bible. Where is the US? Broke and indigent, that's where.
I have many friends that I have tried to woo into
making reasonable and (I feel) Godly inspired investments. I have been
laughed at for years. Comments that I made at work drew scowls,
everyone knew better.
More recently since the recession all of my friends
have lost money. I was at lunch with one gal that lost over $350
thousand in IRA's and was beside herself. Fortunately she was very well
off and could afford it at the time. I spoke to her about investing
in gold. She merely raised her eyebrows and looked down.
Time and again I have tried to influence people but
to no avail. I think that they'd like to laugh at me openly but
don't out of respect for my successes. For some reason they don't think
that they can do it too. They seem to think that its like a ball game. If my team wins then
theirs has to lose. I beat my head but they simply can't see.
5 years ago I invest some $22 thousand in $20 dollar
gold pieces. My daughter came over to the house and saw them laying on
the table. So I told her what I did and she became livid with me.
What kind of a nut would squander my inheritance like that she says?
She had a small fortune in the stock market (Las Vegas style gambling in my
eyes) but to her it was a legitimate investment. Since then she has
lost a bundle but my coins have tripled in value. Likewise my silver
has acted similarly but she still can't see. Slowly shes
coming around but the world still thinks that I'm nuts. I've boasted (I
know that I shouldn't) about my profits and its relative safety to friends
with deaf ears. I've hoped that this would sway their opinion. It
hasn't!!!!
I have a Christian friend that I used to escort to
Texas for the winter. I tried to get her to invest in metal but she
said that I was nuts too. She's always held property and considered it
a safe haven. When the bubble burst she lost a little too. I was
still making money and told her so too and then she hit me with the grand
slam. She accused me of putting up valuables in the last days which the
Bible warns specifically against. She took God's own words and aimed
them at me like a rocket. She didn't realize that she'd
twisted his words first and made me look like the bad guy putting
up riches and sneering at God. Hardly, although I do sneer at my Govt and what they would have us become.
So I believe its all come
down to the game of brainwashing. We are taught all of our lives that
metal is unnecessary as now money is backed by the goodwill of our
Govt. The depression didn't teach anyone a thing as we now have the
FDIC. What a joke.
God said that in the last days things would be just
like they were before the great flood. We abort babies and soon now
hope to terminate the elderly Kevorkian style with our health care.
We have gay marriages and even gay priests to enlighten our
lifestyles. We adopt children to same sex couples, preach disarmament
while Korea and Iran secure our demise, and open our borders while preaching
that our differences are our greatest values. Say what? Didn't
the Bible touch on all that nonsense too? Indeed it did but again on
deaf ears. God scrambled our languages at the tower of Babel for a reason but today we
are to embrace it. I said all of that for a reason as Silver and Gold
fit nicely into that scenario. We live in a scrambled world where up is
down, back is forth, and right is wrong just as the Lord said it would be.
I believe that people cannot accept Gold/Silver
for a reason. Very effective brainwashing is one reason, the other is
that God has blinded people totally. They have faith in man and in Govt and God is about to destroy their faith
totally. He will illustrate that goods and services are
fleeting and that the almighty dollar is worthless. Even Silver
and Gold will become cankered and worthless but not quite yet. First
Gold will be confiscated while we throw our Silver in the streets and
this should come soon now. I don't believe that this will happen before
the rapture but soon all the same.
That in a nutshell is why I believe that people
cannot see. They march to mans beating drum and God is far from
them. As believers we can see but cannot understand why they cannot
see. Does that make sense? No amount of talking can undo what has
been done. Silver and Gold is for those that can see. God's
riches are not for everyone yet.
Respectfully
__________
Greetings Jason:
One long-time friend, an email/phone friend in the reptile business --
completely ignores any mention of PM investment --
·
Another long-time friend very successful
in the reptile business, is paying me a small commission to help him invest
(so far about $5000 in the last month or so) -- we specialize in bullion
reptile coins, altho he's also buying a lot of 10
oz silver bars because of lower premiums -- he listens well --
·
Another coworker listens, and has
actually bought a little (a few ounces), but he rather spend his extra money
on comic books -- low end stuff, he rather collect 50 $2 comic books than one
$100 one --
·
Another friend rather spend his dough on
fossils -- he has enough of those, trust me -- instead of liquidating some
and buying some silver, he'll do it "later" -- admittedly, shark
teeth (his specialty) are increasing in value (measured in US$), but I make
the point that they aren't really keeping up with the dollar's decline -- and
most people don't give an iota about shark teeth -- etc etc
--
·
After much effort, and I've done
everything you said, my dad has finally agreed to purchase some silver -- I
just wish he listened 12-15 months ago --
·
Two sisters play stupid (one has a BA,
the other a BA and a Master's degree) -- they'll wake up too late --
·
Actually Jason, I believe learning
disabilities are far more common in society than anyone is willing to admit
-- I see it everywhere I look -- oddly enough, my 3rd sister, with a GED
(high school equivalency), is the one who has invested well in PM's -- she'll
be OK --
·
I look forward to your survey results --
__________
Jason,
The most common argument I hear about the economy is that it is going to
recover soon and everything is OK. This is a ridiculous position for
anyone to take, but it shows the ignorance of most people. People don't
see the conspiracy of the Federal Reserve. I take
vitamins and other supplements and I have taken them for 38 years, but a lot
of people won't take my advice re vitamins even though I have cured other
people of the same malady that they have. Similarly, as you know, not
everyone will hear the Gospel when it is preached. Satan blinds people
to reality if he can. My good Christian friends know the economy is in
serious trouble and is not going to recover. Most people have a belief
system that they don't want to abandon because they have had it for a long
time. A perfect example is the Jews. They are looking for a
messiah. They have been waiting almost 2000 years since the destruction
of the temple in Jerusalem when the Jews were scattered. I can see
being skeptical that Jesus was the messiah for a few years, but 2000
years? That is nuts. God is doing this on purpose to get peoples'
attention. It is just like Israel in the OT when He took them into
captivity over and over again. They never did "get it."
He has told me that, "Every institution of man that man has put
his faith into will fail." This country has made money a god, and
it will crumble and turn to dust.
God has told me that buying silver is part of the wealth transfer from the
wicked to the righteous. Your analysis on where the price of
gold may go to ($32,000/ounce) is reasonably accurate, in my
opinion. There is very little
silver and gold to use as money, and we are just starting to
see the effect of gold used as money. So far, silver is still a
commodity. 90% silver coins are the best money that one
can have because the denominations are small, and the coins are readily recognized
by the public. Gold coins have too large a
denomination. When silver and gold become money, the price in dollars
will skyrocket, but more important, the value relative to the commodities
will also skyrocket. The price of gold in dollars is about to become
academic as the dollar becomes worthless. How much of other commodities
like food, water, oil, etc., gold and silver will buy is what is going to be
important. I believe I am going to buy a million+ dollar house for $250
face value of silver. I remember reading a story some years ago about a
Jew on a train to a concentration camp. He traded a gold bar for a cup
of water. It was a good trade because he was going to lose the gold bar
anyway. We are heading to the same situation. How do you buy food
with a house? How valuable is a collectible coin
going to be when the dollar is worthless. I have watched the value of
many "collectibles" drop by more than half in the last year or
so. Diamonds are presently down 50%. Cars are down 50%.
Most of the pundits are assuming that the present situation is just a rehash
of what has happened before. I don't believe it is. I think the world monetary system is in a
place it has never been before. The world is awash in paper
dollars. At present prices, there is not enough gold to use gold for
money and replace all the paper. It appears that China is saying one
thing and doing something else. Recovery from this
recession? Not likely.
God Bless You
__________
Re: Advising the Reluctent.
·
Jason,
Thanks for your efforts to assist those of us who
are attempting to educate others about precious metals. I happen to come at
precious metals from a moralistic perspective. At the age of eight (1958) I
saw my first gold coin (1853 one Dollar gold
piece) and silver dollar
(1883 Morgan). This started me asking questions and no one I knew had any
answers. As far as these people were concerned, the monetary system was just the way it was
and that was just fine with them. But inside, I knew something wasn't right.
Then to confirm my suspicions, in 1964 all the silver coins
disappeared; no one I knew had any idea where they all went or why. The first
day at University, after I unloaded my gear in the dorm, I went to the
library and asked where the economic/monetary stacks were located; when I
found it I walked up and took the first five books down off the shelf,
checked them out and read them during the week and came back for the next
five; I continued this weekly until I had read all 1,500 volumes in that
collection. I use to get into arguments with my college economics professors
about practically every issue. It was only later that I discovered that I had
become a "natural" Austrian Economist.
Now I have had several decades of discussions with
hundreds of people about the economic/monetary/financial issues. Here are
some of my conclusions:
1. People are more concerned about being "with
the herd" than about being true. I use the word "true" rather
than right, because they think that they are being right when they are with
the herd. [Being true includes the idea of being a follower of the golden
rule (the do unto others rule, not he who has the gold rule). Even if it were
physically possible to "print money" and not as a consequence
have prices increase, it is immoral to do so; just on the principle of
the golden rule. Those who "print money" certainly would not
approve of some one else taking advantage of them
in such a manner.]
My own father is a prime example of some one who is "herd" conscious. He care more
about what other people think than most any thing
else. His life has been lived in constant fear of what others will think of
him. He was the first one I told of what I was reading about at the
University library. It took him years of face the facts that he'd been lied
to his whole life about the financial/monetary/economic system. FDR was my father's
hero and what information I revealed about that politician made my Father
literally loose sleep for years. But finally after
years of rising gold and silver prices (early 1970s) I persuaded him to
invest $12,000 in silver and $10,000 in gold. Yes we broke the
"law" and purchased Austrian 100 Cronen
coins from those reprobate commies in Hungary (my Father almost backed
out of that deal when he learned that the communist government controlled
mint was restriking these, just because they were
"communists" and he believed that there must be a clever plot to
"weaken" us in the West with this gold). He is definitely pro
precious metals now, but it took years. If I were attempting to do the same
thing today, I honestly don't know if I would invest the effort; because we
don't have years for people to change at a gradual pace as was the case with
my father. On the other hand, the collapse of the system may force reluctant
people to address issues faster than they'd prefer.
2. Trying to entice a reluctant person into precious
metals with the "potential profit" carrot can work; and I have done
this as a last resort; but I always push the moral points above all else. In
my opinion, if some one isn't outraged at the
immoral actions by the "paper money cabal" they aren't worth the
effort to educate them. I see the majority of people in the precious metals
as "profit oriented" and I know that this is better than their
being apathetic about these issues; but this attitude isn't much different
from those in the "paper money" crowd; after all these
"paper" people are motivated by profit as well; the
"paper" people are willing to steal. Now don't get me wrong, I'm
not opposed to profit, but to obtain a profit morally is the key point here.
For example, I have never purchased a house using
convention mortgage arrangements, because I wasn't going to fall for the
"something for nothing approach; by this I mean the idea of paying for a
house with depreciating currency. This isn't what I would find acceptable if
I was selling the house, and if I was buying a house at some point in the future
I would be a seller. Plus the idea that I would later sell some one into
"slavery" (even voluntary) is repugnant!
3. I always paint the darkest picture of the future,
with out precious metals as money; because I want
the people to know that doing nothing will result in the worst outcome possible.
I'm referred to as the "doom and gloomer",
but only by those who have chosen not to act. I even had one co-worker
instruct me to never bring up the subject with him again, ever! Every thing I was telling him would leave him in a black
mood and he wasn't going to pull his head out of the sand; his dreams about
retirement and future contentment were challenged by what I was bringing to
his attention.
4. Most people I talk with are not concerned about
getting precious metals until they see the prices rising, then they want to
jump in with both feet. I've always practiced dollar cost averaging and buying pull
backs and so that is what I preach. But people can't control themselves
emotionally; emotion is their principle motivator rather than logic. They crow
about how smart they are when they buy gold at $1,000 when I've been telling
them to get it years ago at $300, $400, and $500 per ounce. When the price
breaks down their emotions tell them that prices will continue down and
conversely when prices are up they will continue up. What "fools these
mortals be" is a good summary for people. One of my friends has been
talking about buying for years and when gold finally pushed about $1,000 he
bought and when I asked him why, he replied "it broke a thousand"!
Like that was some kind of logical conclusion that any one
could grasp. It is as though it had to go above that number to prove to him
that the price could go above that number.
5. The "side tracked" person is very
frustrating for me. The people who know all about precious metals and even
have had some and sold it when the "once in a life time"
opportunity came along to add on to the house or go on that dream vacation;
and then when prices finally take off they wail and weep about how they could've
should've would've known better; only to build up their precious metals
reserves and "spend" it on something or other and then do the self
denunciation gig all over time after time. These people remind me of the
almost converted Christian, who spent decades in the pew, hiding from God. I
admit church is a great place to hide from Deity, but it is still not
salvation or redemption, just self abuse. I had a former business partner who
admitted that he punished himself, so he could save God the effort; after
all, he reasoned, how could God punish him when he'd already done it to
himself?
6. The deflationists I know always quick to point
out that precious metals will collapse when the deflation finally arrives. I
simply ask them a question; "This deflation you speak of, will it be
like Japan
has had over the past twenty years?" When they respond, "Yes!"
I them pull out the price chart for gold in Yen and ask them to explain how
prices are rising in Yen? They can only say that it will go down at some
point. I then ask the natural next question, "When?"; in another
twenty years? I'm looking forward to the Demographer Dent's explanation for
why the precious metals prices increasing even as
the economy tanks further. He said that he'd have to re-evaluate his
projections if gold went to $1,200 and kept rising. I think the deflationists
have taken their stance because it sells their publications. They are playing
and paying off people's insecurities concerning the future behavior of
precious metals. This, for me, it just as it should be; the longer the
majority put off reality the greater the explosion that will result when
their world view fails utterly.
7. Political types have the state as their religion
and they expect the state to "save them" when the SHTF. They don't
need precious metals because fundamentally they don't want to be reconciled
for their future; that is what governments are for. I try to explain to them
that the government "eats the people"; that is what it always does,
why it was organized in the first place. When I show them historically that
the "founding fathers" of this "great nation" were intent
on milking the masses for every thing they could get,they are shocked! In essence people want "heros" to admire and assure them that the future is
secure with the powers that be in control. Of course, they will concede that
the "system" isn't perfect, but it is better than the chaos that
would surely engulf us with out the state. I wonder
what excuse the political types will come up with when the chaos comes in
spite of (because of) the state's efforts?
These are just a few of my thoughts from my
experiences attempting to educate people about the mess we're in.
Thanks for your time and patience.
Yours,
__________
ur emails are too long
·
I replied: 1200 words is too much?
·
Came the reply: for ADD culture, over
500 is too much!
__________
Hello Jason!
This is not about naysaying, but....
I've been reading your warnings and others' as well for years now. And
like other readers might feel it's a long learning
curve. Lately I have come to the conclusion that while in
theory everything you say and advise about holding precious metals is true, reality has
different limits for different folks.
I'm watching the value of my holdings go up and down, all the while realizing
that the market makers are swimming in earnings as the charts follow the
hooker's drawers. Individual investors just can't trade
efficiently against the brokers. It's one thing to buy and hold
physical for its storage function, but even then the naked shorts play havoc
with it. As long as short are allowed to go naked and losing futures
are settled in cash, we don't actually have real price discovery. Plus
the well-connected players can get money for zero interest. We are
screwed coming and going.
There's gotta be a better way!
Best Regards,
PS. I get very positive responses from family and friends, some even
bought more, but they had some before. Mostly folks are paying down
debt before considering PMs.
__________
Jason,
Everyone thinks I am a broken record. Gold this, Silver that!
However, If you read behind all of the excuses people give as to why
they don�t
jump on board, it flat out comes down to the fact they just don�t have any money. Not everyone,
but most can�t
take action if they wanted to. I just had a minor success with my
father, he just conceded and bought some Fake Paper Gold. He actually
believes in their Guarantee. He bought it because it was convenient.
I hope for his sake they honor their word. I am owning mine the
old fashion way.
__________
Analogy for buying silver and gold
Jason,
I teach combat shooting so I use the following analogy to illustrate the
importance of buying silver and gold. If I were walking through a bad
part of town and somebody tries to rob me or attack me, they probably won't
be very successful if I pull out my .45 and know how to use it. If
however, I walk through the same bad part of town the next day, and someone
tries to rob or attack me and I pull out a receipt for my .45, then I submit
that the outcome of the encounter would be vastly different.
In like manner, paper money, stocks and bonds, etc. are only receipts or
IOU's for "real" money and will not be able to protect anyone's
assets in the coming meltdown. When I put the matter in those terms,
friends are often are able to understand the importance of buying gold and
silver, the only historical "real" money.
__________
Jason,
I write a free newsletter to 102 people , mostly friends of mine. It
is mostly about gold and silver and the conomy. I
am a highschool teacher and the toughest questions
come from teenagers.
Questions or comments I hear from everyone. I do try
to help as many people as I can.
#1 Where would I get silver or gold, store it and re
sell it at the right time. They say I don't want to deal with all that, while
they complain of making only 1% per year in the IRa
accounts. I'm not stupid I listen very carefully in a crowd of other
conversations that I'm not involved in..
#2 The highschool kids say
if silver is going to go up then why is it still in the 15 to 19 range and
hasn't done much. Kids like fast moving excitement. They are right it hasn't
done much. The ratio of silver to gold is moving higher now at almost 64. I
tell them this is your chance to buy more and build up your silver pile.
#3 They don't understand why gold is $1200 and
silver is $19 if silver is so rare.
#4 I have actual High School kids that own 10 to 100
oz and are just holding it but don't understand why the silver shortage
hasn't done much to the price. What do I say to that?
I would like to say that this price range of 9 to 20
has really allowed me to build up my silver pile up to 517 oz and some gold,
but I do wish it would move higher, I to am waiting
and I'm not sure if my followers will hold on forever.
__________
> Another common concern is that "You can't spend it."
That's proof it's cheap!
Indeed!
> You also can't spend your house, stocks or bonds!
That is a good point - I'll have to remember that one.
> Money is more than just a medium
of exchange, it's also a store of value.
Of course the US$ is doing poorly - soon to be disastrous - in that regard.
I think the main obstacle we face with the majority of people is more basic.
You're describing aspects of showing people that they should invest in
(real) gold (and even better) silver instead of other investments - which
are typically mutual funds of stocks. (You'd think after the stock
market
crash a year ago that it would be easy...) The thing is the majority of
people don't have ANY investments - they live pay-cheque
to pay-cheque,
making the minimum payments on high interest rate credit cards with
big balances from all the useless crap they buy.
Of course long term big picture thinking regarding gold and silver is
just a great way to learn what really matters - making investments that
will last for eternity. Have you read the book "Money, Possessions
and Eternity"
by Randy
Alcorn yet? I would highly recommend it.
__________
Jason,
I really think this is one of the most important
topics for family�s and close friends. Most families have zero
or one bulls that understand the value of REAL money.
I tried to get my parents to buy
some silver and then gold. They won�t. I
even said that I will 100% guarantee better returns than what the bank is paying
in CD�s and savings accounts. I
said I will back it with dollars or gold or silver. They will not
accept my promises as they think I may have to pay out my pocket for
them. The next excuse is that they are too old to risk dollars in gold
or silver. I have given them some gold and silver as presents for
Father�s day, Mother�s day, birthdays and Christmas. My dad owns
stock in Caterpillar which I think could even go down significantly against
dollars, not to mention silver and gold. I bought the book �The Creature from Jekyll Island � along with an AU PCGS gold eagle for my dad saying
that he could keep the coin if he only read the book. I have since
heard many excuses why he hasn�t read the book. I also sent an email to my
entire family in early 2008 stating there was a big risk of holding normal
stocks and they should buy some gold and silver to protect them. My
brother replied with �We are too busy with two new
children and two dogs to read about the articles I sent them�. My brother worked for Fidelity Investments
at the time and has since been laid off. At that time (before the
initial stock crash) that I received a lot of feedback that I was much too
negative and I should be more positive on the economy and the dollar.
· Recently,
I heard from Don Stott at Colorado Gold that the best book for convincing
people was �The Dollar Meltdown: Surviving the
Impending Currency Crisis with Gold, Oil, and Other Unconventional
Investments�, so I�m going to order two copies (one for me and one for
my parents). Maybe it will help, maybe not.
At this point I don�t know what to really say when they won�t even read or put any effort into learning why they
need to own some monetary insurance. My brother I�m sure has much more money, and also lost a ton
about a year ago in the initial meltdown, with is nothing compare to what I
think will happen. I initially urged them to all buy silver in 2006
when it was $10 an ounce and the Fed discontinued reporting M3.
Unfortunately I�m not wealthy enough to protect
them all so I�m currently at a loss at what to
tell them after both gold and silver have doubled since then.
·
Your help
on this topic for me and thousands of others (millions if you include your email
lists family and friends) is pretty much as �American
Express� would say is PRICELESS!
I am personally concerned about a
pullback in silver after the next stock market crash that I think is sure to
come, and that if we have deflation in the future that the gold silver ratio
will increase much further. I am convinced that in 10 years that silver
will be an order of magnitude higher due to how it is used and continuous
declines in above ground storage of silver. I still hold it, but am concerned.
__________
Dear Mr. Jason : I viewed your streaming video interview. Quite
enlightening. As for the soft sell, I have placed $20 Eagles, Indians, St. Gaudens,
British Sovereigns, French Angels, French 50 Franc Hercules, 10 oz. silver
bars, Australian 1 kilo " Kooks", and 100 oz. Engelhard bars into the laps of
people. Same result : They ask, " How do you get money
for it ? " I tell them that it is money. Then
they go on and tell me that the stock market long term is much safer. A
man I know that works at the local convenience store catches his own fish,
uses a small 12 guage shotgun to hunt pheasant in
the Sacramento Delta region and goes to his local coin shop to purchase 1 ounce silver rounds. He
told me that the paper money system is not trustworthy ! He also has a
working sluice here in Napa County , California. I have
collected stamps & coins since the 1960's. Started accumulating
pm's since 2003. Question : When is a good time to sell
& if so, where do you put the paper money ? P. S.
I subscribe to Kitco.com, Seeking Alpha, Whiskey &
Gunpowder, Daily Reckoning. Where are we
in this bull market? The innovator stage, the imitator stage or
the idiot Stage ? Thanks.
__________
Hi there
Most common response to buying gold AND,
bizarrely, silver (!!!) - "I can't afford it." Ha.
Regards
__________
Jason,
It's just basic lack of knowledge as everyone under the age of 50 has
only known prosperity and stability until recently. The sense I get is the
pre 1950's generation never trusted prosperity/stability and post 1950's
group has only had the wind at their backs.
Also the political class has done a great job in transitioning the
country from a precious metals backed money system to our
fiat paper money regime. I like to remind my friends and family that nothing
lasts forever (except gold/silver) and silver is a great way for the middle
class to save, especially in our current zero interest rate environment.
The greatest challenge is to convince them that exchanging dollars for
silver is a form of savings not investing. For some reason they all think
"saving" is less risky than "investing" so explaining the
advantages of silver today is paramount.
Keep up the good work Jason.
Regards
__________
Dear Jason,
·
While I would prefer that I and my
son (age 10 at the time and now 13) had caught the silver bug much
sooner when there was more currency to buy with, we understand that our
family has been financially more challenged during the past three years due
to spending money on adoption which was more than worth it. Still,
choices were made that were not valuable and could have been spent on silver
or gold by my husband, who has only recently been getting interested, but not
interested enough to make do much. Still, he does occasionally buy an
ounce or two and a few months ago actually bought about 12 ounces when I
convinced an ebay seller to sell the last of her
silver to us.
·
Tell me exactly what your friends and
family who reject gold, actually say. Our son-in-law who lives in the
same house believes silver and gold are doing well now, but the amount of
value increase won�t be
very much and God will take care of us.
·
Please tell me in as much detail as you
can.
·
What are their arguments? It
is unrealistic to expect the few ounces I can afford in my weekly allowance
buying on ebay to help much. Still, he does
believe at this point that stocks are a bad plan and silver would be a better
investment. What are yours? If the four of us adults took
100 euros a month out of income coming to 200 euros a piece, then it could make a difference and that just
maybe in a couple of years it would come to $500 for an ounce of
silver. If not, we just wouldn�t spend it and at least we would have a
tiny saving since currency is incredibly shaky.7
·
How does the conversation go? It
used to me maybe 30 seconds and they might just walk away in midsentence. How
long will they let you talk before cutting you off? It used to me maybe
30 seconds and they might just walk away in midsentence. Now that the
son-in-law is unemployed he talks about his relatives with money who keep
everything in stocks and wishes they would switch to silver and gold. My
husband only accepts short sentences, but at least occasionally buys an ounce
or two. Do they actually tell you to "stop talking," or do
they give you an argument you can't think of a reply to? Their
eyes used to glaze over like zombies, but they get excited when they see a
small package that might be an ounce or two arrive. What do they need to
hear? For my son-in-law, he gets upset when a a
package comes in the mail to my husband, thinking it might be a silly widget,
but if he finds out is silver, he actually calms down now, thinking it is at
least harmless. What are their strongest arguments? There is no
way the small amount we could, if we did invest make that much difference and
it would probably be better to try to save currency so that some day we will
be able to buy a house instead of rent.
·
What are they unconvinced of? God
will provide. What do they need to be convinced of? I�m not sure, maybe I�m overly hopeful, but in the past when
the odds were not good and I chose to give up, I later realized that doors
may have opened and opportunities were missed. What would you like to
share with them? John 6:9 "A boy who has five loaves of barley bread and
two small fish is here. But they won't go very far for so many people."
10 Jesus said, "Have the people sit down." The people had plenty of
grass to sit on. (There were about 5,000 men in the crowd.) 11 Jesus took the
loaves, gave thanks, and distributed them to the people who were sitting
there. He did the same thing with the fish. All the people ate as much as
they wanted. 12 When the people were full, Jesus told his disciples,
"Gather the leftover pieces so that nothing will be wasted." 13 The
disciples gathered the leftover pieces of bread and filled twelve baskets. 14
When the people saw the miracle Jesus performed, they said, "This man is
certainly the prophet who is to come into the world." GOD'S WORD � Translation Have you sent them any of
my emails? Yes, and my husband now reads them sometimes. No
response from daughter or son-in-law.
·
Would you like to send them any
particular email? Not sure.
·
How persistent are you? It is normal to
talk politics in our family, and about how Christians are increasingly
ridiculed. Survival strategies just fit in naturally. Do you have
a planned conclusion to the discussion?
·
Do you present them with places to go
and buy? Yes, very often. Do you just not get that far? That�s correct. Do you expect them to
take the time to study diligently for over a year to figure out what you have
figured out? No.
·
Have you put gold or silver into their
hands? Yes, and now they are dreaming about getting more, but !-- --
--!
__________
thanks
I am spreading your page to friends. I am starting to like your stuff
__________
Jason, you may find this article interesting.
Would like to hear your take on it. Thanks.
http://www.rickackerman.com/wp-content/uploads/2009/12/Dubai-Wipeout.htm
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Good report on Dubai, but his knowledge
of gold is poor. Everything he says is wrong.
RE:
"I'm also preparing a special report on gold. You will see that -- in
the middle of this huge drive to manipulate gold -- demand for the yellow
metal has not risen. In fact, it is plunging. Goldmines that normally sell
their production forward in anticipation of higher prices in the future.
Guess what they have pulled all their hedges. Meaning the producers think the
price is so high they are selling all they can as fast as they can into the
market. And you should to! Gold sales are down 30%
year over year, falling even further. I've never heard so much b.s. about a market that, in 18 months, only managed to
go up 10%. "
That's all wrong! Demand for gold is not plunging, it's soaring.
The US Mint is sold out as we speak.
Goldmines do NOT hedge "in anticipation of higher prices in the
future". They hedge to lock in prices now, to protect against
lower pries in the future. With hedging, you
can only lock in the current price, not future prices. The man does not
understand futures at all. You lock in today's price "in the
future". What a moron.
Yes, the mines are dehedging. That means they
are covering, buying back the gold they sold and locked in at the $300 price
way back at the bottom of the market.
__________
Excuses??? Dozens of them.
"I am not a gold bug."
"It's a bubble."
"Difficult to spend it." etc.
My conclusion: Sheeple do not really
believe their paper money can fail!! They might have a vague awareness of
the disaster in Germany in the 1920s, but they know nothing of Argentina or Zimbabwe or any
other failed currency. Yes, you can put coins in one hand but you can
put a $100 bill in the other hand and they think both are swell.
Probably would take the paper money because you can rush off and immediately
buy some new piece of expensive crap Apple has
invented so you can twitter and natter all day about nothing. Why do people
have to talk all the time?!!
Every warning, every bit of financial advice, I have given to friends
and families over the years has been correct. And they ignored it all. You
would think at some point I would have credibility. Nope. Never dawns
on them that I am on to something.
My opinion of the intelligence of the human race is
quite low. Most people are self-indulgent idiots with the IQ of a dial
tone. This explains why the worst scumbags can get elected. People are
too lazy to think, to question and to take intelligent actions to protect
themselves from anything. They really believe government is looking out for
them, will do the right thing and ultimately take care of them. It is truly
the nannie state--"Hey dude, where's my
government cheque?"
There is nothing that persuades them. I have
talked till blue in the face about the collapse ahead and the listener will
nod, agree, cluck cluck oh
dear gosh and then DO NOTHING. Oh..except take
another trip somewhere on credit. They think I am a scare monger, a
conspiracy nut etc. Just a daft old man who needs humoring
once in a while.
I am 70. Have had many careers Army,
investment broker, teacher, writer. I taught economics but have
had people lecture me that the CPI is a basket of goods that accurately
measures inflation. The fact that this is total BS is beyond their
understanding. They actually believe government statistics.
It does not help the they might watch some TV guru
giving horribly bad advice. I saw that dweeb Suzie Ormond (or whatever her
name is) tell people to buy T bills for the next ten years and dont bother to even watch the market. There is no
surer way to go broke than that. People believe the TV hucksters but
not me. Cramer says you're wrong? Then you must be wrong.
My health is poor but I know that my children
and grandchildren will either survive or fail based on what I do.
It is fascinating that everything I now do I do for others--the next
generations. I wonder if they will ever think of me--thank me??--when I am
dead and gone. Probably not. They will not be homeless, hungry or
in dire straits because of what I have done the past 20+ years. In fact,
they may be very well off. [Instead of junkets around the globe I
bought gold and silver...for their future!] As long as they don't just
take their windfall inheritance and blow it on frills and trinkets, which I
fear they will do. All my work and wisdom will have been for naught.
"The difference between stupidity and genius is
that genius has limits." W. Churchill.
__________
Jason,
This email is in response to your request.
FYI: I bought in at POG $450 & POS $7.
Back then, I was ridiculed and told by some friends that I was being
irresponsible as I refinanced my house and took the proceeds to purchase
bullion. I couldn't access my retirement funds and they are tied up in the
government's Ponzi 401K scheme.
Today, these same friends call me lucky...
Out of a group of roughly 50 friends, I was able to convince only one to buy
gold, and he only purchased less than $30K.
Everyone else is still gun shy.
The good news now is that I am no longer considered a financial idiot.
Some are thinking about buying, but even these few are still sitting on the
fence, undecided.
Sincerely,
Jason Hommel
www.find-your-local-coin-shop.com
www.silverstockreport.com
www.miningpedia.com
www.bibleprophesy.org
Read
all the other articles written by Jason Hommel
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