The North American Report: Physical Gold....
Hello to all our Adventurers, Traders, Privateers, and those Rogues,
I have been thinking a lot about gold lately. I have learned to pay attention to my random thoughts and intuition. Something says, go for gold... physical gold and not the rights to gold.
I have read articles by Jim Rickards. He is pointing out that many are buying gold but certain forms. He is saying the problem with paper gold is that it is a promise to physical gold. I repeat a promise.
What if they cannot deliver on their promise. What if they cannot deliver most of the promise. Well, that is going to affect the price of gold---- in a big way.
He is advising getting physical gold or invest in proven mines that can produce physical gold. Once again the emphasis on having the physical asset and not someone's promise.
This leads to another point. Promises. If you have physical gold and store it offsite you are counting on someone to promise you access to your asset. Again a promise.
Rickards points out many private storage locations for gold are filling up, and not the "banks" safety deposit box storage locations. Private companies that are serving you; not a bank that is serving itself.
What do you do if the back folds, locks the doors with your gold in it, and a bank examiner of the Fed or State Govt is inside??? Oh dear...
With this in mind I am looking into getting my own physical gold the old fashion way.... I dig it. As to storage I am still considering where. For starters I need to get it.
I am considering a rather big change in life and a move. This move will put me within 10 miles of driving, everyday if I choose, to gold areas. Chunky gold I have heard.
I think this idea is better than any promise of pensions, promise of IRA retirement accounts, of any promise of itty-bitty social insecurity check or other promise.
Getting away from the promises of proven unreliable groups, or individuals is the safest, most secure and most sane thing you can do.
If you do not believe me just ask any of the July 28th 1932 Bonus Marchers in Washington D.C.
They had a promise....
I am going to look into Stan's new gold finding product:
cheaper than a financial advisor who has mis-advised and lost you money (been there),
cheaper than fees to invest in promises by other people,
cheaper than over-valued financial vehicles that again are just someone else's promise.
Wonderful chatting with all!!