Jason Potrzeba posted Buy Gold. The Best Financial Advise I got that I Never Took...
And I remembered an article that I ran into just recently. About investing in gold… It came by e-mail, so I can’t give you the link to the article. It is written by Jim Gillespie, a commercial Real Estate coach… And this is him, who I quote in this blog post.
In the article they were labeling this gold rush as “the greatest scam in history”.
In a nutshell, what they were saying was that for every 100 ounces of gold that people think they’re currently holding a claim to, only one ounce of physical gold actually exists”
Which pretty much means that if everyone asks for their gold. 99 out of 100 ounces would not be delivered. And if you are one of those “lucky investors”, all you are is an “unsecured creditor”.
Which in turn means that you might be holding an empty bag… an expensive empty bag…
Listen to a bit over half-hour interview featuring a London Metal Trader veteran and Adrian Douglas of the Gold Anti-Trust Action Committee. Just click on image saying “MP3 Not for Redistribution” on the bottom of the page on the left side to listen to the interview.
I am not investing in gold, or silver, or in Real Estate in Panama, or Costa Rica. Maybe it is great, but then what I am doing in Real Estate if I know that this is a better investment venue? All I know (just a bit) is real estate, and only in the US. And plan to keep it this way.
Jason, maybe it was a blessing that you did not follow the advice?
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