“It’ll never get to $300.” When you are ancient like me, and have been doing this for as long as I have, you remember the past, and “It’ll never get to $300,” was spoken to me a hundred times, I’ll bet. That was about gold, of course. As the years passed, it wasn’t difficult to predict the future, and it isn’t difficult to predict it now. Not tomorrow or even next week, but a year from now, I am quite certain that $2,500 gold will have passed us by, and $60 silver also.
I grew up in my Dad’s drug store in Washington D.C. at the corner of Mt. Pleasant and Irving Sts N.W. He had that store for 36 years, and it was a great place to grow up and learn how to wrap packages, and all that used to go with being a drug clerk, with the old fashioned National cash registers with gears and a big motor. Cigarettes 13 cents, and two packs for a quarter. Nickel Hershey bars and Cokes. The Mt. Pleasant streetcars ran by my Dad’s store and I could ride free with my Granddad’s weekly dollar pass or get three tokens for a quarter. School kids rode with school tickets, 40 for $1.20 or three cents a ride. I served the Washington Post which was a nickel, with the Daily news at three cents. I know, “Don’t bore me with that stuff, I’ve heard it many times.” OK, I won’t, but do you, in all your pomposity, get the point?
A client sent me a real, dated 2008, Zimbabwe piece of currency. It’s a real piece, issued by the “Reserve Bank of Zimbabwe,” and the amount of it is, “ONE HUNDRED TRILLION DOLLARS.” Serial number AA4690505. When the above paragraph with the nickel Cokes was in place, a mere 55 years ago, if you had told someone that a loaf of bread which then was a dime, would cost thirty times that much 55 years later, they would have called the booby hatch to have you enrolled. Ten years ago, Gold was well under $300 per ounce, and those then “In the know,” said it would never go to $300. Of course, it did, and then the prediction was that it would “Never go to $400.” As each year passed, the same thing was uttered, such as “It’ll never go to $1,000.”
It’s the same gold people! It’s the same Hershey bar and loaf of bread. The streetcars are gone, and there are no more nickel phone booths, because everyone has cell phones. My parents bought a six bedroom, four bathroom house in 1933 for $3300. That house is still there on Kenyon St. in Washington D.C., and is now perhaps a million dollar house. (D.C. has not suffered a real estate crash, because the place is full of government employees who recently got a 16% raise). Same house, same Cokes, same gold, and same chocolate, but THE DOLLARS REQUIRED TO BUY THEM HAVE DRASTICALLY LOST THEIR VALUE OR PURCHASING POWER, because trillions of them have been printed, and they are backed by absolutely nothing but, “The Full Faith and Credit of the United States Government,” and we all know how good that is, don’t we?
Gold and silver are tangible objects, and are self backed. They’re easy to buy sell, store, and are real, authentic, historic money for thousands of years. They require no ’guarantees’ from a government or corporation for their value. Pieces of paper, be they stocks, bonds, promissory notes, currencies, bankbooks, and even fake birth certificates, as Obama produces, require backing from legitimate producers of those pieces of paper, and all pieces of paper can be forged and counterfeited easily. Notice how the store clerk runs a brown magic marker over your $20 and $100 bills, to see if they’re fake? If they are, that brown marker will turn black I hear. Illegals have fake Social Security and green cards by the millions. Pieces of paper with ink on them, even with fancy engravings, like the Zimbabwe hundred trillion dollar note, Obama’s birth certificate, or a hundred millionth ownership in GM in stock, was destroyed when Obama took over and made your share virtually worthless. (GM sold 125 ’Volts’ last year, which is a classic case of utter stupidity by a corporation).
Read your Bible and see for yourself that Jews and Gentiles both used gold and silver for money, as did the Egyptians and ancient Chinese. As I write this on Wednesday, August 3rd, at 10 AM, gold is $1668.50. Thirty days ago, it was $1489. A year ago, it was $1185.60, Five years ago, it was $581.60. Same gold. Silver has done far better but the comparisons are valid. Still, people call and say they ’don’t understand,’ and ’are afraid’ to get some. Why? Because we’ve all been brainwashed, and some of us have the courage to stop and think for ourselves.
Look, just get out of failing dollars. Buy tangible things priced in dollars. Antiques are very difficult to sell. Old cars and numismatic coins are the same. Butter requires refrigeration and has a life time of value. Real estate has not reached the bottom and has insurance, taxes, maintenance, vacancy factor, etc if you are thinking of buying a rental property. At one time, in Philly, I owned 17 buildings, and I don’t want to ever do that again. Start a business? 85% fail in the first year, and believe me, it takes a certain mentality to start and operate one. Gold and silver are so easy and simple. Not paper gold and silver. Not stocks of gold mines, but real, physical, beautiful, gold and silver. Protect yourself!
P.S. If you see all the ads on TV and on the radio for gold dealers, guess who pays for them? We have yet to spend a penny on advertising, so you have none to pay for when you deal with us All the screed going on about the 75,000 laid off airport employees because Congress didn’t fund the FAA? The Republicans cut the $3720 subsidy for each ticket sold in a Nevada airport, to a subsidy of only $1,000, and submitted it to the Senate and went on vacation, the Democrats in the SENATE refused to sign it, so don’t blame the Republicans!