We call delinquent Credit Card accounts and arrange repayments and stuff like that. Who would have guessed !!
Because people have an aversion to what they don't understand. It's human nature to be part of the flock. We are not programmed by nature to wander off alone or challenge the accepted status quo. I blame that part of the human brain that still is ruled by animal instincts that we have yet to (as a species) get past. Why would you give a damn what anyone thinks of your stacking habits? I told people I knew to buy over a year ago and they laughed. I recently showed the same people the gold and silver charts of the last 12 months' movement. They're not laughing anymore.
I got my parents to buy 1000 worth (50 maples at the time). I had to go on and on to get them to do it. I still remember the 'i'll never see this again' look on my dad's face when he handed it over. Now he wishes he had bought double the amount! My mum half heartedly tells me to 'stop buying that rubbish' knowing fully well I won't take any notice. She knows I know what i'm doing I've tried getting people to stack. One friend said 'that's why you'll be a millionaire' when I told him and explained why we should all be buying it. Since then he's probably spent 2000-3000 on various gadgets and hasn't bought a single ounce of silver. I feel like saying 'that's why you'll always be broke' but i'm too nice. I have a friend in America who admits that something serious is coming but still hasn't bought any. Some people you just cannot help it seems. I don't own that much compared to people on here but I own far more than the average joe here so in anticipation of 'bank holidays' and restricted access to bank vaults i've told many people that I have put my stash in a safety deposit box. Better to be thought a fool for losing my metal than be a target. . I wan't to buy more now...cheapest here is about 31 per coin which is quite a premium on the 22.30 spot price. I see it going to 500 an ounce eventually but 500 at that point will be worth much less than 500 today IMO.
I remember my dad laughing when I first bought gold...it was well before any market instability was in the media. he said "Buy Shares, son...Especially in Banks. Banks never go broke" Mum went to a financial advisor about a year ago and opened a managed fund. It has returned -10% so far. When she was chatting to the advisor she mentioned I was buying silver. Apparently he laughed and said "you better get you son to come and see me for some advice" Perhaps I will take him up on his offer and we can compare our returns on investment over the past 5 years.
Haha great story! I remember this financial advisor women went to my mates place and we decided to sit in and listen while his parents were talking to the women. She asked us if we owned any real estate of course and when we said we bought some Silver she sounded mighty annoyed and said "what for"..."real estate is the best investment"...well something along those lines Fast forward 1 year......apparently she got that one wrong. Pfft seems even the professionals don't know what they're doing.
Whats in it for the financial advisor if she/he tells you to buy silver and gold in physical ! Not only will the fin advsr get nothing, but physical PMs directly undermine her/his profession.
We had the same financial adv for 15 years with ok returns, then one day 3 years ago i mentioned how i have been collecting silver bullion for years and he laughed at me and said silver was going nowhere. We stopped using his services and simplified our portfolio so we could manage things ourself (took a bit of convincing with the wife, but the money we saved by not having to pay him plus our personal beleif in PM won.) The wife covers tax returns and i am the finder of potential investments,which then we both scrutinise and decide yay or nay. Our last 3 years have by far seen our best returns for our money while developing a broader knowlege of finances. He was a nice guy but so far our own research and advice has more than doubled our position. I know we run the risk of taking our own chances but thats why we simplified things, he made them complicated. There are obviously exc to the rule but we are happy with ours. MORE POWER TO THE PEOPLE.
Exactly! Furthermore, I doubt many financial advisors actually understand the role of precious metals in the economy. The only financial advisors I have ever known weren't qualified and had their own money problems.
Funny you say that I know a financial advisor & he just started his own busines He like the idea of silver ,but more so the Iraq Dinars I showed him But he can't bring himself to buy any.I don't bother saying much to him on the subject,but he always asks me what the price of silver & gold is.
I have two businesses. One business is as a tax preparer and the other is as a financial advisor. Promoting gold/silver and the other commodities has not affected my tax practice, but it is holding back my financial advisor business. Most people are not comfortable with owning a large amount of pms, either physical or through stock investments. I have significant pm holdings in all my client accounts, but only two clients have been converted. The rest of my clients are trusting my judgment. Now I screen new clients and make sure that they are willing to heavily invest in commodities. If not, they need to find someone else. But I have been taking the opportunity this tax season to talk to as many clients as possible about gold/silver. The elderly, who are heavily invested in cds, annuities, etc, are the ones who will be most hurt in the coming inflation. However the elderly, just cannot accept gold/silver as an investment. The one thing that seems to get through to people is to use a 1964 quarter and a new quarter. I explain that in 1964 the quarter would buy a gallon of gas. I then ask them if they can buy a gallon of gas with the new quarter. They answer no. I then say that the 1964 quarter contains silver worth over $6 and that $6 will buy well over 1 gallon of gas. Next I explain that the decline in purchasing power of the quarter is due to inflation and that gold/silver and other commodities help protect them against inflation. For the wealthier clients, I show them charts, graphs, etc. Slowly, but surely, I am winning some of them over. Whether or not they become investment clients, if they buy physical pms, it helps them and me. They have traded fiat for real money. And by taking more gold/silver off the market, they are making my physical pms more valuable. I don't know anyone who hates silver, but most of the people I know do not understand it.
Hmmmm Iraqi Dinars. I know someone in the US who has piled money into these in expectation of a "revaluation" that will make them rich. As I see it though, the notes are being sold far above their face value for speculation - the people getting rich from it are the salesmen flogging them to speculators.
I'd put money on current Iraqi Dinars being made as useful as a Zimbabwe 100 Trillion note, and a new currency introduced instead.
Being intalian maybe your mum wants you to stack gold instead of silver? My parents came from the depression era so would prefer to stack gold. But, they are happy for me to stack ilvrr as the poor mans alternative
Personally, I think it's the exact opposite. I think many of them understand perfectly what role they have, hence play it down deliberately to their clients. The very best thing you can do in regards to managment of your wealth is make your own decisions. Rise and fall on your own merit, rather than let someone else make those decisions for you. Personally, I have no confidence in paid financial advisory services, hence I don't use them.
