The Fear of Gold
Tuesday, February 21, 2012 at 6:32PM I was on a panel at the recent California Investment Conference in Palm Springs and the question was asked, "What percentage of your portfolio should be in gold bullion?"
The first panelist answered 20%. The second panelist said, up to 30%. Then it came to me.
"I have no problem with someone having 100% of their portfolio in gold," I stated bluntly. Many in the crowd laughed. Their laughter confused me. What's so funny about that, I thought?
I went on, "I think it's weird that people find my answer weird."
GOLD IS REAL MONEY
After all, we are talking about time tested and true money. The only money that has lasted for thousands of years and is still fully accepted worldwide as a store of wealth. Even Warren Buffet had to recently admit that “Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.”
And that from a man who hates gold the way Whitney Houston fans hate Bobby Brown.
So, by stating that I have no problem with someone having 100% of their portfolio in gold I am making an ultra conservative statement. I am stating that I'd have no problem with someone having their entire portfolio in "cash". In real money.
What would you rather hold "for eternity"? US dollars? A paper debt obligation of a bankrupt nation state?
The fact that so many found that to be a shocking statement says a lot about where we are in this current process of the collapse of the fiat currency system.
THE FEAR OF GOLD
There is such a "fear of gold" amongst most people that it must be due to statist indoctrination and propaganda. It makes no rational sense to have such a fear of such a time tested and true store of wealth.
The same people who fear gold seem to have no problem holding a significant amount of their assets in euros in a European bank as Europe burns around them, both figuratively and literally. The euro might not exist 12 months from now but no one seems too concerned. They act like its been around forever and always will be, but it only was dreamt up by globalists in 1999.
YOUR BROKER FEARS GOLD
Near the end of 2007 a good friend of mine who had been wanting to sell her house called me. I had been telling her for a few months to sell her house and buy gold because a big housing crash was coming.
She said she had received a good offer for her house and checked with me to make sure I was certain about her selling, buying gold with the proceeds, and renting for a few years. I told her, emphatically, yes.
So she sold her house. At the time gold was around $750 per ounce. We fell out of touch for a few years and she contacted me last year around when gold was near $2,000 per ounce. I smiled when she called, waiting for her to tell me about the fortune she made.
"So?" I asked, waiting for the exhaltation.
"What?" she also asked, confused.
"How'd that trade work out for you?" I asked.
"Oh. Well I sold the house. And I put the funds into my brokerage account with my (government registered) financial advisor," she responded.
My heart sank. I knew what she was going to say.
He talked her out of it. He said putting all her assets into gold was far too risky. Where in the government training manuals does it tell you to even own any gold!
She got worried too and less than a year after selling, under pressure from her old Chinese parents, bought another house. It was a bit cheaper but after transaction and moving costs it was a loss.
GOLD IS IN A BUBBLE
Of course, now, with gold over $1,700, it is nearly impossible to get anyone from the general public to buy gold. It's gone too high, they cry! CNBC says it was a bubble, they repeat like trained seals.
It's gone from near $300 to nearly $2,000 in the last decade. Surely that is a bubble and if it hasn't already popped it soon will, right?
No. That's not right. This is the problem with watching the value of anything in terms of constantly depreciating US Federal Reserve Notes. In the following chart, when looking at the price of gold in nominal dollar terms it looks like an insane rocket ride of epic proportions. But, when adjusted by the US Government's own, heavily massaged inflation statistic (the Consumer Price Index, or CPI), the price of gold has just finally reached nearly the same level it was at in 1980 and looks far less spectacular.
PORTFOLIO ALLOCATIONS
Getting back to the initial question posed on the panel as to what percentage we recommend people hold gold bullion as a percentage of their portfolio. While I stated I'd have no problem with 100%, we actually recommend to TDV subscribers holding 30% of their portfolio in bullion - both gold and silver.
We also recommend, at this time holding 20% of your portfolio in gold mining juniors and 15% in gold mining major stocks amongst other things. That's because we are expecting all the monetary printing going on with abandon in the western world to foment a true bubble, not only in the price of gold but even moreso in the price of the mining shares, especially the juniors.
We are expecting a mania for the ages in these stocks. And, how will we know when to sell? When I am asked what percentage of their portfolio should be held in gold bullion and I say 100% and no one laughs.
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Reader Comments (20)
I had exactly same experience with someone asking me for an advice. I told them sell house, buy bullion. The year was 2006. Today, they still hold much depreciated house, no gold and speak (and I think hope it is in a bubble).
I found one thing. You tell someone what to do. If they don't do it immediately, then they won't ever. I explain this by people being too brainwashed into actually believing in this magical world, where we can create money as needed, from paper. It's been going on for so long, there is no credible reference point in people's memory.
Most people do not think, even though they do always say they think. All they do is just repeat propaganda they see on TV. They make faces to copy TV, train reflection of particular emotions, note how to dress. Remove TV, and they will do the same, but from other sources. They can't actually think.
This is why the ongoing magicality of the paper world produces no conflict in their minds. They simply cannot consider this, as they can not consider any other issue, unless the thoughts have been already implanted in their mind.
Experiment. Ask them why we pay taxes. They will immediately give you the answer they have been trained for, - to run the government. And when you point out that the government created just in last year far more than it collected from taxes, they stop and blink. Does not compute. The numbers are no secret. The numbers have been known to them all along. They simply are unable to put 2 and 2 together. 2 trln in 2010 tax revenue vs. how many trillions that Bennie have printed? We pay taxes to run the government, really?
Same with gold. They either don't act at all, or they buy it and store in the most secure place - government licensed bank, believing that the bank who's whole existence depends on a government permission is "on their side".
So, today, when I buy gold, I advise them to do the same. It take three times as many gamepoints as before. So what. It is incredibly cheap when you consider that most people have no slightest idea of what is coming, why 9-11, why wars, why economy struggles, and where all this leads to. And what do they say? It's too expensive. Oh boy.
Or, it is not producing any income. This is another favorite of mine. They think that because the government says that inflation is such and such number, then it is true, or at least, close. Why would government allow you to make positive real interest? The only way this can be played is that the actual inflation rate way over any number reported, which means that all their "investments" are losing money year after year, while they keep salivating over nominal profits after paying taxes on them too. Impossible. They only way for this budget to be alive is if the inflation rate is actually higher than reported, and all their investments are nothing but a honeypot for the government.
Yep, if we had free market economy, I'd rather be invested. Fully invested. But, since we do not, then I'd rather have zero real interest from gold, than negative interest everywhere else (if you are lucky to escape losses).
I also feel that we are so far from a bubble of any sort in the precious metals. I have friends and co-workers that look at me like I have 3 heads and immediately dismiss me when I bring up the topic of buying precious metals. A few months ago I even had one individual say to me "I'm not buying into that scam". There have been periods of time over the past few years when the market has temporarily been overly enthusiastic and got ahead of itself (like silver did during the spring of 2010) but to say we're in a bubble is just wrong. While I'm not old enough to remember what the last gold bubble was like in 1980 I do remember the mindset of the last tech and housing bubbles and we have much further to go until we reach those levels. Perhaps the American culture has dismissed the notion of precious metals as money for so long that it will take another decade or a major crisis until the light comes on.
I have my savings invested 100% in Gold and Silver. I also have property that if I could sell would go straight into Gold.
I wouldn't touch mining shares as these will be the first to be nationalised if Silver goes parabolic.
The best story recently came out of France where I live. Workmen working on a ceiling in an old Champagne warehouse discovered 497 US Gold coins hidden since the prohibition years in the 1930s. They were worth approximately Euros 800,000. If they had been US Dollar paper they would have been worth nothing.
I am curious as to why you (and other sites) are recommending investment in mining stocks (gold and silver) when you (and other sites) are also suggesting that the dollar will crash and all paper assests will be worthless. Don't mining stocks count as paper assests? And if they're ok to own why not the countless paper assests all over the now "wonderful" 13000 plus DOW? When society breaks down due to economic woes how do you expect to enforce or even collect on your ownership of these stocks especially with the example provided by the CME and MF Global? What makes you think they won't be nationalized or even siezed by international debt holders with very large armies and still (semi) functioning societies? If Cicero was right and the sinews of war are infinite money then the reverse would also be true and no money would equal no ability to wage war. In an economic crash whose going to fight and die for a one one hundred thousandth share of a gold mine?
I personally think your first suggestion is the best. Put it all into hard metal; gold, silver and lead.
Gosh yes, people laugh at me when I talk about Gold, I have given up entirely trying to explain to anyone about quantitative easing and what that means to the currency, apparently it is true that the human brain has difficulty questioning popular opinion and commonly held belief, even the most intellectual minds just cant do it! There are plenty of points of reference to economic collapse if people still read anything except their damn crackberry, but these people never read any news that is not offered up by the mainstream so they would have never have heard what happened in Yugoslavia, Argentina and closer to my home in Zimbabwe. It seems that in South Africa the situation is even more dire, where absolutely no-one knows or cares to know what goes on in the west. (with the exception of Vusumazulu Credo Mutwa) who is a well respected Zulu Tribal Elder and "Witchdoctor" here. he is fully aware of the world's troubles and has the greatest poem he wrote about Obama that you can see on you tube. Hes about 90 years old in the shade ! (a brilliant writer of many books if you have an interest in African tribal history) and he understands exactly what is happening, he seems to be the only one here that does not praise the Dollar and the Lord.
Blessings to all the enlightened minds reading this site.
i think much depends on your tolerance for volatility and your overall net worth. i'm 50% in gold bullion, but i don't think i could do more because then the volatility would get to me psychologically. while i doubt we will see $1500 again i think it is conceivable, and one never knows for sure (or at least i don't!). if it goes to $1,000, and for some reason i have to sell because of an unexpected expense......that would kinda suck, i think. at 50% i am less concerned with day to day blips and can even enjoy big sell-offs as buying opportunities, in addition to having sufficient room for riskier stocks.
i think there could be multiple bubbles created. gold miners and uranium are the ones i'm focused on.
Rudenewt: We have commented on this on many occasions. There are three reasons why we expect a full financial system collapse AND think we can still profit greatly from the mining shares.
1. We believe that the central banks still will be able to put off the day of reckoning for another 3-5 years through inflation, which will eventually turn into hyperinflation. During this time we believe we will see a bubble in gold and gold stocks for the ages.... and we will still have enough time to cash in the profits and get into physical bullion and other hard/real assets (perhaps stocks/businesses at that time when they are at bargain levels)
2. We do expect many brokerages to go bankrupt along the way (MF Global was just one of the first) and for this reason we HIGHLY recommend anyone who does own mining shares ensures they are registered in their OWN name. Brokerages register shares in "street name" to avoid the time and cost of registering them properly but this means those shares are considered THEIR assets, not YOURS. For this reason, we wrote the BulletProof Shares special report (http://tdv.bulletproofshares.com) to show you how to ensure you own your mining shares even through brokerage collapse
3. We don't think every country on earth will nationalize gold/silver mines. We think some will, though... and that is why we highly recommend geopolitically diversifying your gold mine ownership across numerous political jurisdictions to reduce risk.
No one said the next few years is going to be easy, but this is our strategy. It is going to be more difficult than any other time in history to keep your assets/wealth... that's why we are always working on various ways to geopolitically diversify your assets in The Dollar Vigilante. In the next few weeks we are also coming out with a special report on how to geopolitically diversify your precious metals.
Thank you Mr. Berwick for your response. I understand your logic and have a grasp of your strategy. If I may the short version is you intend to capitalize on the crash by staying ahead of the curve. I have no doubt vast fortunes can be won and lost with such a strategy. Another great strategy I have heard along those lines is to short the US Bonds. If you can time it right I am sure you’ll be rich beyond your wildest dreams.
Please consider an alternate view. Investing in stocks is the equivalent of gambling. In our current paradigm stock purchasing is gambling in a rigged game. No matter who holds the stock it is still just an IOU as good as the guys that grant it and enforce it and not at all like having a physical ounce of gold in your pocket. What's more buying stocks helps to perpetuate our failing system. You are putting your wealth into a company. Companies whose existence separates ownership from management and responsibility. Just by playing in the game you add to your own downfall gambling wealth on a promise. On the other hand, by giving them back their IOU notes and collecting hard items, like PMs, tools, engines and tangible things you not only stick them with their own worthless paper (hastening their end) you help yourself with a means to increase your wealth through your labor on top of being prepared for any coming troubles.
I am very encouraged by your view that we still have years before the semblance of control is lost. I have no doubts you have greater resources and connections to make those kinds of determinations than I do. However I am of the personal belief (rightly or wrongly) that our time can be measured more accurately in terms of months or even days. Like most I watch the news on the internet and try to adjust my actions accordingly. Since "bubble" seems to be a favorite descriptor in today’s lingo allow me to create one more. We have the derivatives, bailouts (foreign and domestic), declining GDP to debt ratios and any other number of factors creating so much pressure that any pin prick would destroy the world reserve currency bubble upon which the entire world paradigm rests. And here are the pins, Greece, Iran, US debt ceiling and $ printing, declining silver reserves vs corporate demand, oil prices, unemployment, costs of food in poorer countries, false flags, a non cartel run gold exchange, and again more than I can list any one of which will pop the balloon. And the grand conspiracy seems to be losing control of their animal. A conspiracy made up of people prone to the same human error we all are. Under that kind of pressure, with the millions and millions of people that you could say literally have their finger on the trigger isn’t it a wonder that it hasn't happened already?
I want three more years. I want all the years I can get. But I can't ignore I'm involved in a conflict I didn't choose to be in. It would seem to me not just my best option but my only option is to resist the current system with every means at my disposal which would include transforming paper into something useful and my wealth into something outside the use of that system.
Maybe I'm too far outside the box. I don't want to fix what's broken, I want to junk it and start over. A wise man once said, “Nothing more than what I can put in my back pack.”
I like this article.
Rudenewt's last post sums up my beliefs to a tee. Or three cups of tea. The only part you left out, Rudenewtdude, is the mindless and incessant militant march to kill those people before they kill us. My understanding of the purposes of this constant and growing fear/threat mantra is to provide cheap labor (with little or no labor and/or environmental regulation) to multinationals via a U.S. taxpayer/debt-funded military security blanket covering the globe. Could be wrong about the motive. Maybe global dominance really does promote democracy, free trade, and peace and prosperity. Maybe China, Iran, and Russia are culturally, ethnically, and politically evil; maybe we can never trust them in any negotiation. Maybe, but that would be nihilist and crazy.
Maybe they do want to kill us; clearly, we've been killing plenty of "them" for 10 years.
And health care. It's 17.5% of GDP before baby boomers even begin retiring and living forty years on the dole. No one, let alone anyone employed in the only healthy and growing sector of the economy, dares ask how much health care is too much.
Health and happiness, ahead of wealth, to you all.
Let's see how hard they're laughing when gold is $5000, silver is $250 and the only food you can buy for less than $5 is a corn dog.
It's not just an investment strategy, it's an epic battle of good vs. evil. A battle of life and liberty vs. the States and the Globalist bankers who control them.
I am in the camp who belives well picked mining stocks will create massive gains and that the puppetmasters will kick the can for several more years. However, bullion should be the bedrock of one's port... The gold bull will not expire like in 1980s or like the internet/housing bubbles. It ends with REMONETIZATION. Fiat currency will disappear and holders of the most gold will be the richest people. Silver is a better buy now with gold ratio around 50:1 IMHO
Choo Hader
I can't afford gold so i invested in 90% silver coins from dimes,quarters,half and dollars.It compliments my portfolio.My insurance agent calls me a monster with over 300 lbs of coins and silver bullion combined.Been retired with a fair amount of money to have for whatever and to have extra money to buy more silver coins on the side.Had I bought gold when it was cheap in the early 60s,yes I could have had a car trunk full by now.
If hind site were 20-20,we'd all be millionaires
If you put your money in bullion, you have zero risk. Volatility has no meaning in this context, IMHO, because, gold is gold. It is only a volatility of how many game points can you score for your gold, but why would you? If you need something, buy it for gold. There are plenty of people out there, who would gladly sell for gold, and keep the whole thing to themselves.
Zero risk, should equal zero profits. And this is true. No matter how high gold goes, you will still have same amount of gold, and can buy the same amount of goods. Exception to this is the fact that most market participants do not know the game is rigged. Once they understand that, they will attempt to convert game points to gold at any rate. The meaning of this is revaluation, not demand/supply kind, but where you change your paradigm of value. At that point your purchasing power can probably go up from 3 to 20 times (my own estimate) and thus even with bullion you will actually have 300-20000% profit in purchasing power.
Personally, I would be glad, but I do not count on that. All I want is to keep my own.
On the other hand there is paper. One kind of paper is ownership of gold in the ground. Due to leverage between market price that can rise and somewhat static costs of production, this instrument can bring very good profits. So, if you like the risk in exchange for gains, there you go.
I have observed during collapse of USSR, that not all people were able to exchange game points that were swiftly getting obsolete for anything that had value (USD, back then). Only connected people could do that. I don't think the reason was that it was USSR. I think absolutely same will happen here. The real reason of why only connected people will be able to hold or cash their gold shares is because everybody will want to, and there is no way to satisfy everyone, so, someone has to take the hit. Actually most will have to take a hit in order for some to be able to convert their wealth.
I was never "connected", and I hate the whole idea of that. I resent any mention of nobility or "who you know" for unknown to me reasons. This is just the way I am. Consecutively, I do not hope to be one of the very few who will be able to cash their shares.
Jeff, on the other hand, has connections with many interesting people. I do not doubt that he knows how and when to approach the problem of cashing out. This is why he advises you to do it with him. As you purchase shares with him, so you will sell them with him, and whichever way that would be feasible in the future. This, I think is the whole point of sticking to adviser.
A word about gold bubble. I submit that there is a gold bubble right now.
What is a bubble? It is irrational valuation of some object, which is then said to be in the bubble. Recall Tulip bubble (mania) or a South Sea Company.
Similarly, gold is in the bubble right now, because it is irrationally undervalued. Irrationally means here to be undervalued regardless of demand/supply and any other objective factors. This bubble is a negative one. This bubble is going to pop, just like any other.
I also would like to suggest that there was gold bubble in 80-ies, and that it was irrational, because the dollar had more meaning back then. The proof came when interest rates were raised and dollar survived. This meant that gold bugs and speculators underestimated the dollar, which meant that it was undervalued relatively to gold irrationally, and of course it popped.
It is your call, as to will the dollar survive today if the interest rates were raised again. My take is to step forward in the line previously occupied by gold bugs and speculators of 80-ies, and place my bets on "NO".
I am 81 years of age and bought my first five Kruggerands in the 50's for $141.00 each. I still have them. I steadily bought both gold and silver, but quit buying during the mania in 1980. In fact, I sold the three bags of silver I had bought for $3850.00 each for just under $75,000.00. After the crash I bought them (and a number of others) back. At times it has been a wild ride, but when you have bought at much lower prices and do not trust the Government to anything monitary right, having metals are a comfort.
I want to start off that I am 100% in silver and gold. But that being said there is one investment that I have been putting more into then either metal; treasures in heaven. Now before everyone laughs me out of the blog, hear me out. “He that answereth a matter before he heareth it, it is folly and shame unto him.” – Palsms 18:13. That’s good advice even if you don’t believe in God; isn’t that what those who are brainwashed in trusting the dollar are doing?! So now that I have your attention let me point out some interesting scripture and let you decide on what to believe.
“4Tell us, when shall these things be? and what shall be the sign when all these things shall be fulfilled? 5And Jesus answering them began to say, Take heed lest any man deceive you: 6For many shall come in my name, saying, I am Christ; and shall deceive many. 7And when ye shall hear of wars and rumours of wars, be ye not troubled: for such things must needs be; but the end shall not be yet. 8For nation shall rise against nation, and kingdom against kingdom: and there shall be earthquakes in divers places, and there shall be famines and troubles: these are the beginnings of sorrows. 9But take heed to yourselves: for they shall deliver you up to councils; and in the synagogues ye shall be beaten: and ye shall be brought before rulers and kings for my sake, for a testimony against them. 10And the gospel must first be published among all nations. 11But when they shall lead you, and deliver you up, take no thought beforehand what ye shall speak, neither do ye premeditate: but whatsoever shall be given you in that hour, that speak ye: for it is not ye that speak, but the Holy Ghost.
12Now the brother shall betray the brother to death, and the father the son; and children shall rise up against their parents, and shall cause them to be put to death. 13And ye shall be hated of all men for my name's sake: but he that shall endure unto the end, the same shall be saved. 14But when ye shall see the abomination of desolation, spoken of by Daniel the prophet, standing where it ought not, (let him that readeth understand,) then let them that be in Judaea flee to the mountains: 15And let him that is on the housetop not go down into the house, neither enter therein, to take any thing out of his house: 16And let him that is in the field not turn back again for to take up his garment. 17But woe to them that are with child, and to them that give suck in those days! 18And pray ye that your flight be not in the winter.
19For in those days shall be affliction, such as was not from the beginning of the creation which God created unto this time, neither shall be. 20And except that the Lord had shortened those days, no flesh should be saved: but for the elect's sake, whom he hath chosen, he hath shortened the days. 21And then if any man shall say to you, Lo, here is Christ; or, lo, he is there; believe him not: 22For false Christs and false prophets shall rise, and shall shew signs and wonders, to seduce, if it were possible, even the elect. 23But take ye heed: behold, I have foretold you all things. 24But in those days, after that tribulation, the sun shall be darkened, and the moon shall not give her light, 25And the stars of heaven shall fall, and the powers that are in heaven shall be shaken. 26And then shall they see the Son of man coming in the clouds with great power and glory. 27And then shall he send his angels, and shall gather together his elect from the four winds, from the uttermost part of the earth to the uttermost part of heaven.” –Mark 13
Now if this struck a chord with anyone, good. It should and that means that you “have ears to hear”. If you just skimmed over all that to see what I would write next or that didn’t mean anything to you, you should really take some time out of your stock piling of worldly treasures and examine yourself. So if you see the uncannyness of these scriptures written about 2000 years ago and you want to know what “these times” mean for the investor, read on:
16And he [the Anti-Christ] causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: 17And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. 18Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.” –Revelations 13:16-18
Now this is during the end of the end times and I don’t see any wiggle room for any other currency then the mark (RFID?). Maybe there will be a black market as is human nature, but I see how the IRS is cracking down on that right now, so I wouldn’t put my faith in that. But the scriptures DO suggest gold and silver WILL be used after this period, so continue reading:
“They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.” Ezekiel 7:19
This is after the Anti-Christ has had his fun and the tribulation is nearing a close. This is the second coming, and you do not want to be on the earthly side of Armageddon on that day (in fact if you take the Mark of the Beast you will be damned already). So back to what to do NOW with your MONEY. As I said I am 100% in metals for all the good reasons established above, however, my mind is not on using it to live my life out on some island after the SHTF and I can buy a house with an ounce of gold. I do hope to make a good ROI in which case I want to sell and hope that the Lord will then reveal the true purpose for my stewardship:
24Then he which had received the one talent came and said, Lord, I knew thee that thou art an hard man, reaping where thou hast not sown, and gathering where thou hast not strawed: 25And I was afraid, and went and hid thy talent in the earth: lo, there thou hast that is thine. 26His lord answered and said unto him, Thou wicked and slothful servant, thou knewest that I reap where I sowed not, and gather where I have not strawed: 27Thou oughtest therefore to have put my money to the exchangers, and then at my coming I should have received mine own with usury. 28Take therefore the talent from him, and give it unto him which hath ten talents. 29For unto every one that hath shall be given, and he shall have abundance: but from him that hath not shall be taken away even that which he hath. 30And cast ye the unprofitable servant into outer darkness: there shall be weeping and gnashing of teeth. –Matthew 25
Even though my coins are figuratively buried, I do speculate that they are undervalued and I am banking on them being able to do more abundance in the near future, and I have no faith in the money changers to give me anything less than inflation. I’m not sure I will get too many arguments from the choir on those points. But what good will it do me to die with all that money? I have no kids, and even if I did, what good will it do them if we truly are in the end times and they are not wash in the blood of Jesus?! So I plan to use my wealth for the Lord and earn my treasure in heaven while I still have time:
19Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal: 20But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal: 21For where your treasure is, there will your heart be also. –Matthew 6
So, this I already do, in money, time and effort. So let me correct myself, I’m not 100% invested in metals, just 100% of my worldly corruptible wealth that can be taken from me is in PM. Remember the “Workmen working on a ceiling in an old Champagne warehouse discovered 497 US Gold coins” (thanks George), do you think those coins are serving the original owner well right now? Remember, we are not promised another day here on earth. I am only 26 and I know I am only one bullet, one car crash, one air bubble in an artery away from going home with the Lord and I have to answer for ever word uttered and ever cent spent. Please do not dismiss this post lightly, 3 years ago this time I awoke to all that is mentioned in this article and in those 3 years this is where my search of unbiased Truth has taken me. If you are too vested in things of this world, you will be blinded by them. Remember “where your treasure is, there will your heart be also.” So take some advice from a young mind that never really took to the conditioning placed before me.
~Daniel
(Hebrew for: God is my Judge)
Amen!
Well said Brother Daniel! I will look forward to seeing you in the future.
Gold should never be sold for the fiat currency of an empire in monetary decline ... gold should be held tight as an empire fails and only sold for the fiat of the next new government that arises which will likey be in better economic condition.
Gold has the ability to transfer wealth from a failing empire to the next empire that arises and this is born out by history. Roman and Spanish gold coins found today have monetary value in our fiat monetary unit hundreds and even thousands of years after those empires fell. So gold is historicaly a safe way to transfer wealth from a failing empire to the next empire that arises.
I think you guys might think I am crazy, but I think Gold wont be as big a talking point in the future as some think. When worst comes to worst and our crazy politicians finally nail the final nail in the coffin of our economy, it will not matter how much bling you have. Remember, you will not be able to eat it. Yes, gold is a good investment at this time. But with the changing circumstances of our world, I would say that Silver and copper would be better if you invest in precious metals.I say this simply because they are industrial metals that can conduct electricity. If you really want a good investment, I would advise land, with plenty of seeds to go along with it. Heck! Throw some livestock in too. This will be your best bet when a pretty faced gold piece wont buy you lunch!