I have a friend, Bob, and we go to the same church. Bob’s probably 81, and is a retired professor of mathematics at Western State college, in Gunnison Colorado. He knows nothing about cars, other than you turn the key, and it starts. Similar to me, knowing that two plus two is four. Three Sundays ago, Bob’s car wouldn’t start, and a jumper cable to started it instantly. I assumed he would get a new battery. Last Sunday, I asked him if he got a new battery, and he said that he’d been told by several mechanics that it might be the starter relay, the key switch, the alternator, or other, but his battery was OK. I told Bob, he was being ‘jerked around,’ by mechanics who told him his battery was OK. “Look Bob, that battery has outlived its life. Get a new one and all will be OK.” I’ll see today, if he did, or has been fooled by mechanics who realize he knows nothing about cars or batteries, and the profit is in doing to Bob, what is profitable, not logical. I’ll find out today!
Why are there many hundreds of ‘financial advisors’ in America today? For the same reason that mechanics are giving Bob the works. There are maybe a hundred million Americans, who are as ignorant about stocks, as is Bob’s knowledge of cars, so they trust a ‘financial advisor.’ They don’t know gold from Tesla, and trust financial advisors to manage their surplus assets. Makes sense to a hundred million Americans! Financial advisors, usually brag about giving you 8%, or even a 10% return on your money placed with them, and they think it’s wonderful. Really? After fees, and taxes on that 8%, is there any left? If any, it’s a lot less than inflation, and if you die, there’s inheritance taxes. Do you ever actually see what you have been invested in, like shares of stocks? No, it’s just computer entrees. Putting it mildly, you know about as much abut the stock market as does Bob with his car. That’s understandable, and both Bob’s car and the stock market, are a wild world of guessing, predicting, and knowledge, with profits on both sectors. At least mechanics usually don’t charge for their profit making ‘opinions,’ whereas a financial advisor charges a yearly fee for your entire account, whether he makes a profit or not.
I’ve never owned a single share of stock, but I have thousands of real, physical things in my home. An 1887 brick Victorian 3400 square foot home, 83 year old truck, which I have owned for 51 years and which I did a frame up restoration 50 years ago, a 1987 Jeep, and 1988 Mercedes 560SEL, both in perfect condition, and all in virtually perfect condition. Plus two other cars, hundreds of books, movies on DVD, original art, tools galore, guns, and of course, my safe. I’ve always taken vitamins, look 25 years younger than I am, and have never been drunk, taken drugs or smoked. I have taken care of myself, and my possessions, and have never needed any advice.
If I need advice, I go to a doctor, dentist or dermatologist, which I do if needs be. My wealth, is not on a computer screen, but physical, and I my hands. I can leave all of my possessions to my kids, church, or anyone or group I choose. Financial advisors, never place their customers into gold or silver. Why? There is no profit in them, regardless of its simple logic. If the financial world collapses, as it always has, in all of past history, stocks and computer figures will be worthless, but physical gold and silver, will be good for security and purchases everywhere, and forever, in any nation on Earth.
While the above makes complete logic and sense, few will change their minds, regardless of common sense. Why? Because of in-grained habit. Why did it take medical research about lung cancer, to make hundreds of millions stop smoking? Because smoking was fun, and no one ever told them it was killing them. Logic and medical science, finally got to most smokers, but naturally, some paid no attention to logic and common sense, and continue smoking. My Dad was a fearless Camel smoker, but he died from it at age 63, before doctors discovered that Camels were killing him. I never realized the folly of paper money, till I got involved in gold and silver in November of 1977, and have been acting on my knowledge and preaching it now for 47 years. Stop and think!
-Don Stott, don@coloradogold.com