I have a client who wanted to get a full rundown on all he had bought from me. Since nothing is on a computer, but only on 4 X 6 index cards, it took a bit of time, but I got it and have satisfied his desire. Nice guy! Have never met him, but I recognize his voice when he calls. Maybe he’s rich? I don’t know, as that is subjective and the term means different things to different people. At any rate, his first trade with me was on Feb 9th, 2006. His last trade in the year 2007 was on November 6th, 2007, or a span of 21 months. He’s bought since, but prices haven’t changed much since his first trade 1n 2008, on Jan 8th. He has bought nothing but silver. No gold.
Over the 21 month period, this man spent $684,543 with me for his silver, including commissions, delivery, etc. As of Tuesday, Feb 12, 2008, if he bought all of it again, at current prices, including commissions and delivery, it would cost him $852,436. If it were all bulked together, he would have cleared 25% in 21 months. His first trade was for 100 ounce silver bars @ $987 each. Today, they are $1810, almost exactly two years later, or close to double. Five months ago, he bought 10 oz silver bars @ $140. Today, they are $180.90.
I have probably 6,000 clients, but have never counted them, I admit. Some of which have bought once a few years ago, and some who invest fading dollars with me regularly, and now with my son David. Just thumbing through cards at random, here’s a fellow who bought from me only once, and exactly a year ago. He bought 80 – A-Mark Rounds @ $14.89 and 2 – 10 oz silver bars @ $146 A year later, they are $18.14, and $180.90. That’s 22% in a year. Thumbing through more cards, and at random, here’s a guy who bought from me for the first time on 10/31/01. He bought 21 Gold Eagles @ $291.10, and today, they are $954. A 329% profit in a bit over six years, or 55% a year if you divided 329% by six.
I have a file drawer marker “old,” and these I might not have heard from in a long time, but I never throw one away. Here’s one selected at random. He bought only once at 12/30/03 He bought five – 10 oz silver bars @ $64.90. Today, they are $180.90. Another random pick. He bought on 12/17/03, 1,000 Silver Eagles @ $7.24. Today, they’re $19.09. Another oldie picked at random. On 10/3/2000 she bought 1 – 1/4 oz Gold Eagle @ $49, and 1 – full size Gold Eagle @ $285. Today, they’re $247.50 and $955.10. It can go on and on, and it makes me feel pretty good that all those people have paid attention to my scribbling and silly writings, plus used their heads and gotten tangible gold and silver, rather than sticking surplus assets into fading dollars.
It’s almost like Helicopter Ben and Sir Alan had a giant dimmer switch. They have been slowly dimming the once brilliant dollar, reducing its ability to purchase things, and causing inflation. They keep those presses running! The more of them there are, the less they will be worth. The gold and silver mentioned above HAVE NOT CHANGED, any more than have the ’quarter car wash’ emporiums, which now cost over $2.00. Bread, milk, onions, and lumber have not changed in usefulness or value. Only their prices have changed in decreasing value dollars. Not only dollars, but all currencies in the world are being printed with all possible necessity to balance the budgets of weaseley politicians. They have to spend endlessly to keep those glamorous offices, and we are unavoidably taxed without our permission by having our currency debased.
Get out of all currencies. All are fading, and the buck is trying to lead the pack. If you’ve got a huge refrigerator, buy tons of butter, store it, and watch it go up in dollars. Buy anything tangible, because all of them will “go up” in fading currencies, while their value and usefulness remains the same. If you have no surplus assets and live from hand to mouth or have credit card bills which command high interest rates, ignore this and pay your high interest debts. I understand that some credit cards have close to 30% interest rates if someone missed a payment.
We’re not going into the fact that the Federal Reserve creates dollars out of thin air and loans them to the US government, charging interest for something they have no investment in, because that’s another subject. The old expression that “There’s something rotten in Denmark,” may have been true a long time ago, but now it should read, “Everything’s rotten In D.C.” Stay clear of the D.C. Gang’s invitations to store any surplus assets you may have, in their siren song treasury notes. Get out of dollars and into butter if you wish, but gold and .silver take a lot less space and don’t require refrigeration! Protect yourself.