Buy Gold Bullion | At MoneyNews: Selecting a <b>Gold Bullion</b> Retailer : Edmund C. Moy | News2Gold |
- At MoneyNews: Selecting a <b>Gold Bullion</b> Retailer : Edmund C. Moy
- Is Now The Time To <b>Buy Gold</b>? (IAU,GLD,GLL,PHYS) - Investopedia
- Time Is the Trigger for Equities and <b>Gold Bullion</b> :: The Market Oracle <b>...</b>
- <b>Gold</b> and Silver are Not a Religion. They are Tools.
| At MoneyNews: Selecting a <b>Gold Bullion</b> Retailer : Edmund C. Moy Posted: 09 May 2014 09:36 AM PDT  With more than 4,000 dealers and other retailers selling gold bullion, how do you select which one is right for you? As director of the U.S. Mint, I saw firsthand the incredible growth of this market segment. The Mint produced new supply to supplement the existing market, and sales grew from 198,000 ounces in 2007 to 1.435 million ounces in 2009. Thousands of new companies entered the market during this boom period. An investor cannot buy a gold bullion coin directly from the U.S. Mint. When the program was first set up in 1986, the gold bullion market was in its infancy in the United States, and Congress wanted to make sure there was a two-way market. It was possible for the Mint to sell them directly to consumers, but the Mint did not have the ability to buy them from owners who wanted to sell. As a result, the Mint sold the coins in bulk to Authorized Purchasers, who in turn sell them directly to dealers and other retailers, and direct to consumers. Authorized Purchasers are contractually committed to buy gold bullions from sellers at fair-market value. I use five criteria when I decide to buy gold bullion coins: reputation, experience, volume, selection and pricing. Look for a firm that has a reputation for being transparent, fair and honest. If they are not, complaints are usually a telltale sign. The Federal Trade Commission and your state's attorney general's office are government websites to start your research. The Better Business Bureau is an objective third-party reviewer that has a robust accreditation process for listing a company and compiles ratings and lists complaints. I prefer a business that is experienced. It takes a long time to build a reputation, but it can disappear in a moment. If they have thrived through a boom and bust, they will likely have the wisdom to handle the twists and turns of this current market. Look closely at the management team, because many times the reputation lies with the individual and not the firm. A long history of repeat clients is a good sign. What is the sales volume of the dealer you are considering buying from? It is easier to maintain a good reputation if there are only a few transactions per year. But to move millions or even hundreds of millions of gold bullion a year requires excellent people, time-tested processes and outstanding customer service. Usually the greater the volume, the better the price. Product selection is also important. There are many popular gold bullion coins produced by quality mints around the world, and each bullion coin has its pros and cons. I have a bias toward gold bullion coins made by the U.S. Mint because of my confidence in their quality, my patriotic pride in their unique American designs and their popularity worldwide (which translates into liquidity). Pricing is where the rubber meets the road. The U.S. Mint sells gold bullion coins to Authorized Purchasers for the spot price of gold plus the cost of manufacturing (around 3 percent) the coin plus a 2 percent surcharge that gets put in a reserve fund to offset any potential losses (so that taxpayers never have to subsidize buyers of the coins). An Authorized purchaser then puts a mark-up on the coin when it is sold to a dealer or other retailer, who then adds a mark-up when they sell to an individual. Most pricing for a specific type of gold bullion coin will be competitive within a tight range. Occasionally, there might be a low-cost dealer, but you may have to make a commitment to buy a specific volume or they may not have the coin in stock and you will have to wait until gold prices match the price you bought at for the dealer to buy and deliver your coin. While higher pricing may not be best for most buyers, it does not necessarily mean that the dealer is trying to take advantage of the buyer. Sometimes it goes to pay for a higher level of customer service, premium shipping and expertise (which benefits first-time buyers). Other times it may be due to the dealer's inventory and what price it was purchased at. Coins in inventory means it can be delivered immediately. Most of the problems I have seen have to do with dealers who deliver your coins to a "secured facility" but not to you (gold IRAs being the exception). Those coins might not be the quality described or they may not exist. Beware of scam artists who significantly overprice their coins, use hard-sell tactics to intimidate you into buying or pass bullion coins off as rare coins (professionally graded coins being the exception). Some private mints and illegal mints have issued fake bullion coins with little or no precious metal content. If you apply the five criteria of reputation, experience, volume, selection and pricing, you will significantly reduce your risk when investing in gold bullion coins. Originally published at MoneyNews.com. Tags: Gold Categorised in: News  |
| Is Now The Time To <b>Buy Gold</b>? (IAU,GLD,GLL,PHYS) - Investopedia Posted: 14 May 2014 03:10 PM PDT Is the recent rebound in gold too good to be true? After falling hard in 2013 – posting a decline of 28% – the precious metal managed to claw its way upwards to revisit $1,300 an ounce. Many analysts began to believe that the yellow metal was about to rally. As such, funds like the iShares Gold Trust (NYSE Arca:IAU) once again saw inflows. But some big-name strategists are saying that investors shouldn't be buying into the bling just yet. There are more declines and better prices around the corner. And when they hit, investors should be buying all they can. Down To $1,000 Per Ounce First, according to technical analysts at Charlotte, N.C.-based Bank of America Corp. (NYSE:BAC), gold's charts aren't telling a great story. Analyst MacNeil Curry expects gold bullion to be range bound before moving downwards to $1,215 per ounce. That echoes similar predictions from investment bank UBS Inc. (NYSE:UBS). The reason for the dour forecasts has to do with the strengthening U.S. and European economies. Additionally, higher interest rates and a strong greenback continue to weigh heavily on the metal. According to one stagiest, if it wasn't for the conflict between Russia and Ukraine, gold could fall to the $800 to $1,000 per ounce range. Which is exactly where famed investor Jim Rogers says to begin buying.Rogers, who has been a big supporter of gold and other commodities for years, believes that a big gold correction could come soon. The former hedge fund manager estimates that a 50% correction every three-to-five years is normal for any asset class, and gold is no exception. Gold peaked at just over $2,000 per ounce back in 2011. Rogers also says that dwindling demand from China will weigh heavily. Rogers adds that many of the long term catalysts for higher gold prices are still in place. The various quantitative easing programs and money printing will end badly, resulting in the potential collapse of the euro and dollar as well as triggering higher commodity prices and inflationary pressures, he believes. Gold remains a good insurance policy any of that happens. Getting Ready To Buy Gold Investors with a longer term view or those who are worried about the return of inflation may soon be getting a gift in lower gold prices. They should be ready to pounce. The easiest way continues to be the SPDR Gold Shares ETF (NYSE Arca:GLD). The $32 billion ETF is physically-backed and represents the share of gold bars stored in a vault on behalf of investors. The ETF features high liquidity and relatively low operating expenses at 0.40%. Likewise, the ETFS Physical Swiss Gold Shares (Nasdaq:SGOL) stores its bullion in neutral Switzerland, while the UBS E-TRACS CMCI Gold TR ETN (NYSE Arca:UBG) uses futures to get its gold exposure. Both SGOL and UBG are perfect substitutes for the GLD. Another potential option for investors could be the various gold-backed closed-end funds or CEFs. Due to their structure and fixed number of shares, CEFs can trade at discounts to underlying values. That means investors can snag gold at even bigger discounts to market prices. The two most popular funds – the Central fund of Canada Limited (NYSE:CEF) and Sprott Physical Gold Trust (Nasdaq:PHYS) – can both be had for discounts of 4.92% and 0.50%, respectively. Finally, for those investors not willing to just wait for lower gold prices, there is the option to short the metal before buying it. The ProShares UltraShort Gold (NYSE Arca:GLL) is designed to deliver twice the daily inverse return of gold bullion prices, while the PowerShares DB Gold Short ETN (NYSE Arca:DGZ) can also be used- minus the leverage effect. Investors can ride these two funds down, before selling them and switching over t one of the long funds. The Bottom Line According to several strategists, gold could fall further this year. Does that make it the best buying opportunity in years? If so, is now the time to short the shiny stuff?
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| Time Is the Trigger for Equities and <b>Gold Bullion</b> :: The Market Oracle <b>...</b> Posted: 20 May 2014 12:42 AM PDT By: The_Gold_Report
The Gold Report: "Sell in May and go away" is a common investing axiom but does it have any validity? Charles Oliver: I recently went through some research on seasonality in the gold price. March has been negative in the gold space in six of the last eight years, April has proven negative four out of the last eight years, and May and June have both been negative five of the last eight years. However, we see a fairly dramatic turnaround in July where six of the last eight years have been positive. In August, another six of the previous eight years have been positive; September has been positive five of the last eight years. The "sell in May" adage could actually represent a great buying opportunity on the pullback. TGR: What are some investment themes you expect to dominate through the rest of the year? CO: It really comes down to printing money. The U.S. has reduced its money printing but it is still aggressively printing. Now we're hearing about the Europeans potentially getting into quantitative easing. The debasement of currencies is an ongoing theme. The other key theme is the demand for physical gold. China has become the world's largest gold buyer, consuming about 40% of the world's mine production. India, which historically had been the world's largest gold consumer, has established some tariffs on gold imports, so there's been some pullback there. It's noteworthy that over the last couple of decades the European central banks have been collectively selling gold. That stopped a couple of years ago. Some numbers from the Swiss Customs Authority show that Germany, France, Singapore, Thailand, even the United Kingdom, are fairly significant gold buyers. These are very positive events. TGR: What about geopolitical events? Do you expect those to dramatically influence gold prices? CO: Historically, wars and the risk of wars have been quite positive for the gold price yet recent events in the Ukraine haven't seen gold do anything. In fact, it's trading near the bottom end of its recent range. But should things escalate, I feel strongly that it will have a positive impact. I certainly hope that it doesn't come to that but the risk seems significant. TGR: What is the investor pulse in the precious metals space? CO: A year ago investors were selling a little, as they had been for some time. The selling had mostly stopped by the end of the 2013 and the people who didn't have long-term conviction had left. In early 2014 I was a bit surprised to see U.S. value investors streaming in because we had been through a period of net redemptions. When the Americans come into the market they can have quite a dramatic impact on prices. I'll call it sporadic because it has not been a consistent stream. TGR: What happened to those bids? CO: Generally speaking, American investors, portfolio managers and pension funds were saying at the end of 2013, "We've had some good returns in the general market but the market is looking somewhat expensive." They were looking for areas where there was good value. The gold price had been hammered over the last couple of years so they were starting to move some of their allocations into that space. We've also seen some private equity buying assets and taking them private. And some Asian interests dipping their toes in the water. People are starting to wake up and show some interest but they are still waiting for some sort of trigger in order to say that this is the time to jump in. TGR: Any idea what that could be? CO: I've spent a lot of time thinking about that question. I liken the 1974 to 1976 period to today. In 1974, the oil price was going up after the oil embargo and inflation was going up, too. It was peculiar because the gold price went from about $200 per ounce ($200/oz) to $100/oz over the next couple of years. Then in 1976 gold suddenly went from $100/oz to about $800/oz. I have spent a lot of time trying to determine the trigger for that event. Sometimes it is just time. When I look back at 2013, I see a lot of positive fundamentals—strong Chinese demand, huge amounts of money printing—yet the gold price went down. Sometimes it's just the way the markets time themselves. TGR: Do investors need to revise their price expectations for precious metals equities? There is zero froth in this market. CO: I think that's a good way of putting it. I'm continually trying to figure out where the market may go. Not too long ago I said that by the end of this decade gold should be approaching something like $5,000/oz, which would have a huge impact upon the markets and stock valuations. The market is valuing equities as if gold is going to stay at $1,200–1,300/oz forever. I believe that the market will be proven wrong over time. TGR: Gold is trading at roughly 67 times silver. Does that make silver your preference? CO: Yes. It was Eric Sprott who came up with the thesis and I fully embrace it. For over 1,000 years, the silver-gold price relationship was close to 16:1, so that implies that if gold is $1,600/oz, the silver price would be $100/oz. The last time that happened was 1980 when the gold price was roughly $800/oz and the silver price was around $50/oz. Over the next couple of years, I expect to see that 67:1 ratio migrate toward 16:1. TGR: Yet the trend is moving in the opposite direction. CO: In the short term sometimes these things happen. About 25% of the weighting in the Sprott Gold and Precious Minerals Fund (SPR300:TSX) is in silver equities, which is probably among the highest in the peer group for precious metals funds. TGR: What's your investment thesis for silver versus gold? CO: About two-thirds of mined silver is used in industry, whereas gold has virtually no industrial usage. Gold is considered a reserve currency whereas silver is not. About 150 years ago many countries had silver reserves backing their currencies. Today they don't but China has trillions of U.S. dollars that it is converting into hard assets. The Chinese are buying a lot of gold but if they ever decide to be a silver buyer we would see a huge shift in the price of silver. Look at every mined commodity out there today—copper, nickel, zinc, iron ore—China accounts for 40–50% of global consumption. TGR: Is it all about margin for precious metals equities? CO: A lot of these companies are producing gold at $1,000/oz or silver at $18/oz. Should silver go up to $30/oz, that $2/oz margin suddenly becomes $12/oz—a sixfold increase. Shifts in commodity prices could have huge impacts on the profitability of these companies. TGR: Tell us about some of your top silver holdings. CO: Among my top 10 silver holdings, I have Silver Wheaton Corp. (SLW:TSX; SLW:NYSE), Pan American Silver Corp. (PAA:TSX; PAAS:NASDAQ) and Tahoe Resources Inc. (THO:TSX; TAHO:NYSE), which operates one of the world's newest silver mines. I visited Tahoe's Escobal mine in Guatemala earlier this year to check out its ramp-up period because that can be challenging. The company is doing a very good job of ramping up to nameplate capacity. Tahoe's Q1/14 results beat the expectations of most analysts and a number of them are revising their forecasts upward. In the gold space I have companies such as Osisko Mining Corp. (OSK:TSX) and IAMGOLD Corp. (IMG:TSX; IAG:NYSE). TGR: I thought the Osisko story was finished. CO: A byproduct of the Yamana Gold Inc. (YRI:TSX; AUY:NYSE; YAU:LSE)/Agnico-Eagle Mines Ltd. (AEM:TSX; AEM:NYSE) takeover bid for Osisko is a potential Osisko spinout company. For every Osisko share, investors would own one share of the spinco. It means roughly 15% of an Osisko share is represented by the value of the spinco and the other 85% consists of shares in Agnico-Eagle, Yamana and cash. An Osisko shareholder today will end up owning a combination of all three companies, plus the cash component of the offer. One thing that keeps me excited about the spinco is that it is going to have a 5% royalty on the Canadian Malartic gold mine. It would also have a 2% royalty on the Hammond Reef and Kirkland Lake assets, as well as a large land package in Mexico. The Osisko spinco would be Canada's newest royalty company and royalty companies often get a premium valuation. TGR: Does the new company have a ticker? CO: Osisko shareholders will have to vote to accept the Agnico-Eagle and Yamana bid. I expect it will pass and the Osisko spinco should be trading sometime in June. TGR: Osisko was targeted largely because it had a large low-grade, low-cost asset in a safe jurisdiction. Does that make companies like Detour Gold Corp. (DGC:TSX) and Tahoe Resources takeover targets? CO: Certainly both Detour and Tahoe would fit the model sizewise. Goldcorp Inc. (G:TSX; GG:NYSE)walked away from the Osisko bid and clearly it wants to continue to grow through mergers and acquisitions. What will Goldcorp do? I'm not expecting the company to come out tomorrow and make an acquisition on either of these names, but I think it will certainly do the diligence work. Goldcorp already owns 40% of Tahoe, which has a world-class asset with world-class operating statistics. Goldcorp is already in Guatemala; I'm not sure if it wants to increase its weighting there. In the case of Detour, yes, it's in Canada, and from that point of view, quite attractive. Detour is still in the ramp-up stage and perhaps it has finally reached the point where it is producing and reducing its cash costs. But I think Detour is still a year behind Osisko on that front. TGR: Detour just published Q1/14 results. It had an adjusted net loss of $0.20/share, while it produced roughly 107,000 oz gold. Your thoughts? CO: I was impressed at what Detour was able to achieve because it was a tough winter. I had some concerns that the weather might have proven to be an impediment, but the company produced a significant amount of gold. I think the grade was 0.9 grams per ton. Some of that was from stockpiles to buffer the grade at the mill. There are always a few bumps in the road but Detour has done very well. TGR: In early 2013 that stock was above $25/share. Now it's about $11/share. What's going to get it back above, say, $15/share? CO: A couple of things. As I said earlier, I believe the gold price is going higher. With higher gold prices come higher margins. And I think the market is still putting a discount on Detour as it's in the ramp-up phase. As the company brings down cash and operating costs quarter by quarter and approaches Detour Lake's nameplate production capacity, the stock will get back to a higher valuation. TGR: Do you have any more gold names for us? CO: I'll mention some of my larger holdings of nonproducers: Dalradian Resources Inc. (DNA:TSX) andAsanko Gold Inc. (AKG:TSX; AKG:NYSE.MKT) that form part of a diversified portfolio. TGR: What is the Dalradian story over the next 18 months or so? CO: The company will continue to derisk the Curraghinalt project in Northern Ireland. Dalradian will go underground and through further drilling convert a fair amount of the Inferred resources to the Measured and Indicated category. As the market gets confidence with those numbers, it will start to rerate the company. A lot of people were concerned about whether mining would occur in Northern Ireland. To address that, Dalradian is looking to make a concentrate instead of using cyanide. The company is doing things that will ultimately make it more attractive. TGR: Why do you own Asanko? CO: It used to be called Keegan Resources. The management of Asanko bought into the project for around $27 million. These are the people that ran LionOre Mining, which under a decade ago was the subject of a bidding war between Xstrata Plc (XTA:LSE) and Norilsk Nickel Mining Co. (GMKN:RTS; NILSY:NASDAQ; MNOD:LSE). They're good people with good operational experience. Asanko merged the PMI Ventures assets with those that were in Keegan and now has two projects within about 10 kilometers of each other, which are expected to have synergies. The company also has a significant amount of cash. TGR: The Sprott Gold and Precious Minerals Fund has held positions in Pretium Resources Inc. (PVG:TSX; PVG:NYSE), Guyana Goldfields Inc. (GUY:TSX), Unigold Inc. (UGD:TSX.V) and Kirkland Lake Gold Inc. (KGI:TSX). Does it still have positions in those names? CO: Pretium and Guyana are among my top holdings. Unigold, which you mentioned, is a small-cap name in the Dominican Republic. Unfortunately it has been the victim of the small-cap market where investors have turned their backs on these types of companies through no fault of management. I think Unigold has an interesting property with lots of opportunities and drill targets, and could potentially have a mineable resource one day. TGR: Guyana Goldfields' flagship Aurora project has outlined 6.5 million ounces Measured and Indicated, yet the stock price is falling. CO: The company is at the point where it is ordering equipment, getting its financing in place, and then it will start building and moving Aurora forward. Again, it's time and execution. TGR: Pretium had a bumpy ride in 2013. Do you still have faith in management? CO: Yes. I visited Brucejack in British Columbia last year. It's a "nuggety" project that's difficult to model. It takes a lot of drilling to get that necessary level of confidence. Last year the company processed a 10,000-ton bulk sample that produced around 6,000 ounces (6 Koz) or about 0.6 ounces per ton. In February, Pretium sent another 1,000-ton sample to the mill and it produced around 3 ounces gold per ton. The important thing to look at with this company is that there is lots of gold underground; the model still needs work to figure out how best to mine it. Pretium is proceeding with further studies on Brucejack, but I think it will be a mine. It's also a potential acquisition as it is a high-grade deposit in Canada. TGR: Kirkland Lake Gold forecasts roughly 126 Koz in production in 2014. Is that realistic? CO: It will probably come close to that number. Kirkland Lake has a new CEO, George Ogilvie, and a fairly dramatic change in ideology. A couple of years ago the company was focused on mining everything in the mine. Ogilvie is focused on mining more profitable ounces. TGR: I understand that Kirkland has been attempting to lower costs. Is that working? CO: Kirkland Lake is not yet profitable, but it has instituted a new program to mine higher grades. It will focus on the high-grade ore because that is where it will make a profit. This is the same strategy that Rob McEwen put into place at the Red Lake mine. I think Kirkland has huge potential but it ultimately comes down to strategy execution. TGR: In March you said that gold would reach $5,000/oz within a few years. That seems optimistic. CO: It's based on the historical relationship between the Dow Jones Industrial Average and the gold price. Over the last 100 years there have been three times when it has cost 1 to 2 ounces gold to buy the Dow. The last time was 1980 when the gold price was $800/oz and the Dow was 800. People roll their eyes when you forecast big numbers. In 2004 or 2005, I said gold would reach $1,000/oz. When it reached $1,000/oz, I moved to $2,000/oz and we almost got there. With the willingness of the market to continue to print money, I believe that we are going to get that 2 or 3 to 1 relationship with the Dow. With the Dow at 16,000, I think $5,000/oz is achievable. It's not really that the gold price is increasing, it's that paper currencies are depreciating in value. TGR: Thank you for your time and commentary, Charles. Charles Oliver joined Sprott Asset Management in 2008. He is lead portfolio manager of the Sprott Gold and Precious Minerals Fund. Previously, he was at AGF Management Limited, where his team was awarded the Canadian Investment Awards Best Precious Metals Fund in 2004, 2006 and 2007. His accolades also include: Lipper Awards' best five-year return in the Precious Metals category (AGF Precious Metals Fund, 2007), and the Lipper Award for best one-year return in the Precious Metals category 2010. Want to read more Gold Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see recent interviews with industry analysts and commentators, visit our Streetwise Interviews page. DISCLOSURE: Streetwise - The Gold Report is Copyright © 2014 by Streetwise Reports LLC. All rights are reserved. Streetwise Reports LLC hereby grants an unrestricted license to use or disseminate this copyrighted material (i) only in whole (and always including this disclaimer), but (ii) never in part. Streetwise Reports LLC does not guarantee the accuracy or thoroughness of the information reported. Streetwise Reports LLC receives a fee from companies that are listed on the home page in the In This Issue section. Their sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734. Participating companies provide the logos used in The Gold Report. 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| <b>Gold</b> and Silver are Not a Religion. They are Tools. Posted: 19 May 2014 07:15 AM PDT  For years now, anyone who purchased (or for that matter was a proponent) of gold or silver has been disparaged as a "bug." The disparagement is wrong because these "bugs" have been correct and it's been applied to anyone no matter how small a percentage gold was to their portfolio. The term goldbug has been applied as a way to divert investors from the metal because let's face it, who wants to be labeled as a "crazy?" Don't get me wrong, there truly are some "goldbugs" out there who have purchased gold for their entire lives (not necessarily a wrong thing), would never ever consider selling and it almost engulfs their entire lives. Some people believe that gold is an "end all" savior to all situations, financial, moral, economic or what have you. I have said several times in the past that there is a time or season for everything and the seasons are different. At some point in time you will be foolish not to turn your metal into things "productive." That time is not now, we have to get there first. I first thought of writing this piece because I read a goldbug disparagement that said "to some people, gold is a religion." First off, gold is not a religion, although there are some out there that have elevated it to such. This is wrong headed thinking, but it does exist. Yes, gold is real money, it is "honest" money, but it is still only money. We have as a global society (particularly in the West), elevated "money" to the level of worship status. The "money" however which is so sought after is false and can be created in unlimited quantities. Worshipers of paper will have a quick and sudden death when it comes. Then there are those who believe that gold is the end all to any and all problems. There are those who worship stacks and believe that these stacks will "save them" from what is mathematically coming. These "goldbugs" are wrong and I would even say a combination of arrogant and naive. Let me explain, because I know this needs some explaining. Yes gold is "money," REAL money. It is "better" money than anything else on the planet and has been for over 5,000 years, but as the saying goes, "It's only money." You see, gold and silver by themselves are merely tools. They are tools to get you (and your wealth) from here (the present system) to there (whatever future system is devised). Gold and silver should be thought of as tools that can be used to help you survive bad times, allow you the ability to trade for necessary goods and ultimately arrive at whatever "dawn" is coming …with some wealth. Many people think that since they have gold, no matter what happens they will be OK, "gold will protect them." This is just plain dumb in my opinion because if I am correct as to what I see coming (possibly complete and total anarchy), the game will be all about survival as opposed to being prosperous and "winning" the game. Again, please don't get me wrong, the metals are an absolutely essential "tool" to every tool box but think of them as a hammer without nails or a screwdriver without screws. The above was started earlier and since then I've been out on my daily ride and have come back. Interesting that while riding I came across a woman who I've seen before and spoken to but pretty much just to say hello to on the side of a dirt road. She offered water for my horse and we began to talk. It turns out that she is a federal employee and had just returned from a big meeting. Naturally knowing that she is a federal employee I was cautious with my words (sad that it has to be this way) but I asked a few "big picture" questions just to see where she stood, and boy did I find out! Once she got rolling in the conversation I asked her why the USDA needed to buy huge amounts of ammo and even ballistic body armor? She said, "Oh, there's not much to that. It's because they have had landowners refuse inspections at gunpoint." But then it got really interesting. She told me that she's "stocked up" and that anyone who isn't will be what the government is now classifying as "zombies." No kidding, before riding this morning my wife told me that Yahoo did a story on the government's "8 classifications of zombies." I'm not making this coincidence up. I swear! My conversation lasted almost 10 minutes and my "ride" was getting antsy so we went on down the road but I did get quite a lot out of it. She knows that they know! She is prepared even down to having extra dog food for at least 6 months. I did not say too much and what I did say were mostly questions to prod her along, but to my amazement it sounded like the "internal" mindset is that it will be every man for himself. While on this subject, I have spoken to several different local Sheriff's deputies on the subject of unrest. Each one of them have told me that unrest is expected and that if it is "systemic" (as in nationwide), they will be at home protecting their own families. I know that the above is a little off topic but I think it's important in the scheme of things. The "scheme of things" being that you can have all the gold and silver in the world but they should only be part of your "tool box." You will need to be able to eat and protect yourselves also. Do you know any local farmers with greens, hens, hogs or cattle? Have you purchased a tool called a "bicycle" yet? I won't go through an entire checklist as everyone is different; some require special meds and even diets. My point is that "it" is coming and having a big stack of precious metals will certainly help you through it and past it …but not all by itself. If you think that "oh, I'll just buy what I need when the time comes," think again. Your desired goods may not be available at any price and more importantly if you are trading with metal it means that people in your community will then know that you have metal …and want what you have. Why not just go to Walmart now (several runs) and just blend in with the other customers unseen? There is no pressure and you can do it leisurely. Why would you wait until either the shelves are empty or it might be dangerous going from the front door to your car's trunk? To finish, don't be a goldbug who worships stack after stack of metal without planning for the big picture. For those main-streamers with their heads in the sand who look at goldbugs and sneer or laugh, I would say "I'm sorry." I'm sorry that you don't get it. I'm sorry that you feel the need to denigrate people who are very close to seeing the big picture. I'm sorry that the government now apparently has a category for you (8 of them in fact) with the expectations of roaming "zombies." We are living in very interesting times! Similar Posts: |
Charles Oliver, lead portfolio manager with the Sprott Gold and Precious Minerals Fund, believes the only thing between investors and bigger investment returns on precious metals equities and bullion, especially silver, is time. In this interview with The Gold Report, Oliver discusses silver and gold demand drivers, as well as portfolio ideas that figure to get bigger with time as the trigger.
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