PAPER

Paper, paper, paper. We’re being buried with paper. There are paper cups, plates, dresses, money, and now paper gold. That’s correct. There’s always someone trying to scam you out of your paper money…with different paper. Will it ever end? Papers showing the ownership of gold? What for? Why would anyone want to own a slip of paper, showing that some outfit far away across the ocean, has some bars of gold in storage? Would you rather have a piece of paper showing ownership of a prime filet mignon, or have the steak right there? Is there a piece of paper showing ownership of your car? Yes, but you have the car. Of what value is a piece of paper saying that you own a bar of gold four thousand miles away, in someone’s vault? Isn’t it far better to own the gold, and have it handy to gloat over, show off, and feel secure about, having it right there under your feet, or wherever?

“Oh I’m going to buy a lot of gold, and I’ll have the certificate showing I own it. It’s 4,000 miles away in a safe place where is won’t get stolen.” Oh yeah? How do you know? Has there ever been a human who didn’t at one time find a way to steal something with no one knowing about it? Does any thief think he will be caught?

Stock brokerages have been fined hundreds of millions for bilking their customers with fake issues and bad deals, which of course paid handsome commissions. Corporations, such as Enron and Global Crossing, stole billions from their stockholders. Stealing is so common, that some businesses allow a percentage of their gross to it, because they know it is impossible to catch everyone. When the mines were open in Silverton Colorado, the miners would sometimes come upon a vein of “high grade” ore, which was almost pure gold. They’d do everything in their power to get it out of the mine undetected. They’d put it in their mouth, in their pie tin (lunch box) or even stuff it up their ass (if you will excuse the expression.) The mine owners finally had to have two separate rooms for the miners to change and shower after shift. The shower was one, and then the dry room, where their street clothes were stored in their lockers. They had to pass from one to the other completely naked, in the hopes of stopping the high grading. It may have been reduced, but never stopped. I have bought beautiful high grade from a mine general manager!

Mechanics cheat, and used car salesmen are legend as far as cheating. People bypass electric meters to get free electricity, and use magnets to defraud other meters. In Las Vegas, there is a TV camera on every square inch of the floor, with an army of viewers, watching every move of the gambler as well as the dealer. Slot machines can be gimmicked to produce huge wins, and dice can be loaded. Thievery continues 24/7/365, and no one has ever been able to completely stop it. I wouldn’t steal a dime from anyone, but I honestly believe I am a rare breed about that.

Precious metals dealers can cheat by marking up their stuff to their customers. A customer calls and wants 10 Krugerrands, and the dealer pays maybe $450 for them, but charges his customer $475, and then tacks on his commission. Since I have been doing this since November of 1977, ask me about it! My first supplier went bust, as I knew it would, and they went to jail. Knowing it was going to happen, I warned everyone, including the owner, but no one paid any attention. Millions were lost at NJorth American Coin and Currency, especially by people who had their gold and silver supposedly “stored” in that firm’s vaults. After North American went down the tubes, their trader started a firm, which I began using. After all, he was a Swiss, and aren’t they honest and smart? When they went bust, I had some deals on line, which I had paid for. Total loss when they went down, I reimbursed my customers and looked around. I then went to another long time firm in California, which went broke also, but I was suspicious, and got out in time. For many years now, I have been dealing with the largest supplier in the world, and I have the utmost confidence in them. If they go bust, I would see to it that none of my clients lost a penny.

Look at the department stores and major retail firms that have bit the dust. How many hundreds of millions were lost in the S&L scandals of the 1980’s? My parents lost money in 1933, when their bank closed and never re-opened. There are so many thieves in the world, that it is actually impossible to count them. People stay awake nights trying to figure out a way to scam someone, and they often figure out a way. Of all the ways to steal, the use of paper seems to be the main one, which fools the most. Look at the dollar bill, which is one of the great heists of all time. Not only do we pay high taxes, but thanks to thieving government, we are taxed twice, as the very dollars we pay taxes with, go down the tubes as far as value is concerned. Prices going up? Of course not. Government thieves are destroying our very dollars.

And you are thinking about buying gold, and getting a piece of paper representing it, and not taking actual delivery? You say you will have a certificate showing it is there? You say you have the serial numbers of the actual bars? You say you have seen photos of the bars? Great! I have a bridge I would like to sell you in Brooklyn, and it can be turned into a real money-maker if you institute tolls. See, here is a photo of the bridge, and you can drive over it and measure it and see it for yourself. I’ll give you a deed for it too. (This has actually happened several times in the last hundred years) The US government says it has tons and tons of gold in Fort Knox, but I’ll bet you a paper dollar there is none there. The US government talks about Social Security being solvent till 2024, or some garbage like than, and there isn’t a single dime in the fund, because it’s all been spent. Lies and thievery from our Nation’s Capital, and you are going to trust having your gold overseas?

Maybe the gold is there. Maybe it is all on the up and up, and no one intends to scam anyone. Suppose they have a change of mind? Suppose the government in that land, decides to confiscate it, because of a fake tax claim, like the Russkies did with the privately owned oil company they now own? Suppose an earthquake comes, and the whole mess falls into the sea? Suppose the owners of the outfit get robbed at gunpoint, or decide to abscond with the loot? Suppose the place catches on fire or the ocean has a tsunami and it all goes to Davy Jones Locker? The Bible says, “Time and chance happen to everyone.” The most honest businessman in the entire world, can get caught up in hideous snarls which he is totally unable to control. Guess what happens to your gold, which is represented by that certificate? It’s gone.

Currently, there is a US marine, who “promised” to return from Utah, but has gone to Lebanon, and will probably never be caught. Currently, there are scores of scams which urge you to contribute to the tsunami disaster, and which are total frauds, even though they “promise” to send the dough there and will give you a piece of paper saying so. Remember the old popular song, which said, “Promises, promises, they never come true?” Do husbands and wives, boyfriends and girlfriends ever violate promises? For crying out loud people, USE YOUR HEADS. If you want to own gold, BUY IT AND TAKE DELIVERY. A recent column by a responsible writer, said that if you supposedly have paper certificates for silver in the COMEX, and you don’t have the serial number and weight…you don’t have any silver. A client of mine has been trying to get delivery of 5,000 ounces of COMEX silver for weeks now, and hasn’t been able to get it. He has a piece of paper that says it is his. Never allow anyone to “store” your gold or silver for you. You store it yourself, because it is YOURS. Protect yourself.