I hate debt! I have none, and if I did, I think I would not sleep well, and do everything in my power to pay it off. I have never had a savings account either. Before I started doing precious metals in November of 1977, I spent money as fast as I earned it. I soon began accumulating gold and silver, when I started dealing it, as it made so much sense. I would be willing to bet that our customers feel the same way about debt also, using metals as the only way to safely save. I have heard that three Bitcoin millionaires committed suicide after their Bitcoin ‘savings,’ went to almost zero, compared to its recent high. I wonder how many Enron ‘savers’ took their lives when their savings went down the tubes? Or maybe those who ‘saved’ in Arthur Anderson, who as I remember, kept Enron’s books? Neither exist any longer, or maybe a dozen entities, this year alone, which went the way of all flesh, when they ceased to exist, talking their investors with them?
I have always enjoyed dealing with LDS (Mormon) folk. In 100% of the time, they have always been friendly, decent and a pleasure to talk to and deal with. Mormons have their own welfare system, and make beautiful music. Bill Marriott and I, both went to Washington D.C.’s Sidwell Friends School. Bill is a couple of years older than me, but his picture is in the lobby or most Marriott hotels. I remember when they built the first one at the end of D.C.’s Key Bridge. The LDS church has absolutely no debt, and when they build new churches, they pay cash for them. There’s a lot to say about LDS, but having no debt is one sterling example of how to run just about any business or even church. Our Baptist Church has no debts either.
Speaking about debts, I thought I’d look up to see how much debt Donald Trump has, and especially since his company has recently been found guilty of various ways of cheating on taxes, by over-valuing properties, and other nefarious bookkeeping methods. According to Forbes, Trump has $1.5 billion in debts, and for all practical purposes, has no net worth. He owes on everything he ‘owns,’. including Mara Lago,’ on which he owes $11 million, or Trump Tower, on which he owes $100 million, and that is true on just about everything he ‘owns.’ Imagine owing $11 million on your home! Please correct me if I am in error, but if you own something, it is to be assumed that it is paid for, or am I wrong?
By comparison, Home Depot has debts of $29.21 billion, and Walmart has debts of $48.4 billion, but they are huge businesses employing hundreds of thousands. Trump’s debt is for a single person! After Trump’s Atlantic City default, I have always been skeptical of his solvency, but now that I have investigated him. I was not in error. Trump did wonderful things for America, do not mistake me, but he rarely tells the truth, and seems to be mainly interested in himself. His braggadocio and urging people to vote for his recommendations, cost Republicans the mid-term Senate, and they should have gotten far more in the House than they did. I think Trump is as dead as a caught fish, and I wish Trumpists would get a life and get over their Trump fetish. HE LOST.
Millions of Americans live on credit cards, rental residences, and cars, paying huge interest amounts each month, and never get out of debt. If the economy crashes, what will happen to them? It’s a horrible thought. 21% credit card interest, or thereabouts? Never buy gold and silver from us, if you live on expensive credit cards. Please don’t. When we bought our new Mercedes eight years ago, in the showroom, a man said that his payments are going down when he takes delivery of his new one. He looked to be my age, and I asked him how could that be? He said he leases them, never owns one, and pays every month the rest of his life, I guess. Not me. Our new one eight years ago, now has 106,000 miles on it and it has had one battery and front brakes, and that’s all. It’s still worth far more than half of what I paid for it. don@coloradogold.com or 1-970-249-4646.