The stock market has done a bit of correction in the last week or so. About 7%, as a matter of fact. To me, who doesn’t own a single share, it was to be expected. “Whatever goes up, must come down,” or “Down don’t worry me,” from an old Negro spiritual. Corrections are a normal thing in the stock market, and a 7% correction isn’t much, when you consider that since Trump’s election, the market has gone up close to 45%. If the market was at 10,000, a 7% correction might be a disaster. The P/E ratios of the Dow are about 26, and when Trump was elected, they were a bit lower, but the dividends are OK, so nothing to be alarmed about. Look, I am no stock expert, but think that ratios dividends, etc can be compared by anyone. I am writing this on Saturday, and haven’t the slightest idea of what will happen Monday, other than what I see on Bloomberg, and that of course is predicting what will happen in the future, and no one knows that. I am not telling anyone to buy or not to buy stocks. A share of a stock shows partial ownership in a real, tangible, operating corporation. A miniscule part admittedly, and maybe that’s why I’d rather own gold and silver rather than a share or shares of stock. I own all of it and it’s right here in my hand or in a secure place. If I knew what was going to happen Monday, in stocks or gold and silver, I’d be the richest SOB in the world! An ounce of gold, an ounce of silver, or a share of stock means you own something, or a part of a corporation anyway if it is a stock, not an ownership in nothing, as in a crypto currency.
During the California gold rush in 1849, most of the adventurers lost their money. There were fake gold mines sold, and fake everything. Those who made some money were those who sold the supplies, food, pickaxes, etc, to the explorers. There were so many ships in San Francisco harbor, which had unloaded all the prospectors and gold seekers, that nothing could be moved, and 99% of those who came on the ships, lost everything.
Now let’s get to the ‘Pump and Dump’ title, OK? Go to ‘coinmarketcap.com,’ and see a list of 1507 crypto currencies. Bitcoin is at the head of the list, and over 1500 have followed. Some have no value at all, and Bitcoin has taken a 55% dive from its peak. Had the stock market gone down 55% rather than 7%, I believe the world’s civilization would be in jeopardy, if it had not already collapsed. What ‘crypto manipulators’ do and have done, is to take a crypto valued at maybe a few cents, including Bitcoin, and buy say a couple hundred thousand, causing them to go up, of course. Then at the peak, they sell what they have bought, and maybe make a few cents on each one, and laugh all the way to the bank, at the expense of the ‘get rich quick’ crowd, who bought many of them, including Bitcoin. Because a crypto currency, is a share or partial ownership of…NOTHING. Similar to a 49er who succumbed to a sharpie selling shares in a fictitious gold mine, or possibly selling ‘fools’ gold’ as real gold, and they look exactly the same. “What fools, these mortals be.” Shakespeare from Midsummer night’s Dream.
Ever bought anything advertised on TV, or for that matter, anywhere? I have fallen for advertising many times, I must admit, and not always, but sometimes, I have been fooled. I guess truth in advertising can be somewhat determined by the logic of it. TV advertisers who sell duplicates of Morgan Silver Dollars for $49 on expensive TV ads, are selling at least silver, but highly overpriced silver. Our duplicate Morgan Silver Dollars, are 28 cents over spot, and we charge a 1% commission which includes shipping to you. With the spot price of silver Friday at $16.62, you add 28 cents and then 1%, and you get the Morgan duplicates delivered to you for $17.06. That is in lots of 200. Less than 200, our supplier makes us add a $25 ‘small order charge.’ That’s it. No other charges! I have no idea what the $49 per coin guys add for shipping and commissions. I started this business in November of 1977, and we have NEVER spent a dime on advertising, so no ads are paid by our customers, as there aren’t any. – Don Stott 1-888-786-8822