Poor Man Survival
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All the excesses and corruption within government that are driving the debt crisis are coming to the surface. Deep concern is rising among alert Americans as well as non-Americans the world over.
The great fear is a true meltdown in public confidence. Few people living have any idea what this means. Many more people will wake up, but most never will. They never have.
This is why I never tire of trying to get people to keep on buying silver with their paper money.
Do not bother asking your banker or stock broker about the wisdom of this mindset. These people are notoriously against precious metals because they don't sell them. They sell paper assets. They don't know anything about silver or gold for that matter, and 99 times out of 100 they will tell you don't buy it.
Meanwhile, watch the price of silver. No matter what the Banksters, government or politicians do, silver will know, and its dollar price will increase.
I usually recommend buying physical metals instead of the brokers' metals investment products. There's a good reason why.
Most precious metals funds, such as gold ETFs and gold mining ETFs, are based on the idea of future metal demand, not merely the metal holdings themselves. Some are good about securing metal to represent the paper they issue. Some are not careful at all.
It pays to carefully research precious metals ETFs to find the ones that can unequivocally state that the shares they sell are in fact backed by real metal in a bonded warehouse, preferably in your country of residence. Failing that, you are much better off owning gold and silver coins and bullion as insurance against a significant collapse in other assets, such as stocks and bonds.
Owning mining stocks is not recommended if what you want is security. Mining companies are highly speculative investments in any environment and have not performed as predicted by many of the experts who claim to closely track the industry. If you are going to buy a mining stock, do your research and buy one or two directly — which is why I have given you information on a few in past Alerts — rather than through an ETF.
If you must, the largest gold metal fund is the SPDR Gold Shares ETF (GLD) and the largest silver metal fund is iShares Silver Trust ETF (SLV). While the largest and most liquid, you cannot go and redeem your shares for gold unless you are a registered broker-dealer. Large hedge fund managers use these funds, however, so it's hard to say they're not legit.
As much as we have loved buying physical silver in the past, we love it now even more. Silver has gone lower than the $20 per ounce mark, and isn't anywhere near the 2011 high of $63 per ounce.
To us, silver is poised to eventually rise and attain a new floor above $20 in the near future.
Why is silver so special? There are a number of reasons, but here are a few:
- Because of its malleability, ductility, conductivity and sensitivity to light, silver has a variety of industrial, medical, decorative and monetary uses.
- In the medical field, silver's anti-bacterial qualities are being used in a variety of ways to prevent infections, including the “superbug” MRSA, an antibiotic-resistant strain of staph infection that has been sweeping through hospitals.
- Silver's reflectivity and natural beauty make it an ideal metal for jewelry and silverware.
- Demand for these uses of silver has remained relatively steady in the past decade, as newly wealthy middle-class citizens in Asia snap up silver jewelry and silverware. In 2010 alone, silverware and jewelry accounted for 217.3 million ounces of demand for the metal.
- While silver has lost its luster as a metal of choice for circulating coins, its millennia-long use as a medium of exchange makes it very sympathetic to the movement of that most monetary of all metals: gold.
- Finally, silver demand has exceeded silver mine production for all of the last decade. While there is plenty of silver out there available to be melted from scrap, the supply is not unlimited. With each passing year that scrap and government sales are required to bridge the gap, the overall amount of scrap supply dwindles.
You can easily buy U.S. Mint coins near your home for private purchase. We recommend getting our exclusive Directory of Dealers Specializing in Gold and Silver Coins and Bullion for a complete list. Please remember, prices change rapidly — so if price checking, please do so at the same time if possible and don't delay with your purchase to get the quoted price. Avoid "collectible" coins and instead, focus on mint-issued products such as U.S. Gold Eagles or Canadian Maple Leaf coins. Markup should be minimal compared to the current price per ounce of gold.
The supply-and-demand, plus the monetary argument for silver
investing will be the forces driving the price of the metal higher.
Yours for the truth,
Editor, The Bob Livingston Letter®
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U.S. consumer confidence slid again in July higher prices for food, gas, and just about everything else continued to weigh on Americans. Read More Here
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