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A Silver Lining for Nervous Investors
Camarasa
Posts: 244
A Silver Lining for Nervous Investors
by Robert Kiyosaki
The subprime mess is widespread, and it seems to be getting worse. It's certainly worse if you're about to lose your home.
The stock market is schizoid -- up one day and down the next. If you're a day trader, this volatility is pure heaven; if you're getting ready to retire, it's likely to give you a heart attack.
Big Deal
As for commercial real estate, it's a great market. I just bought a 350-unit apartment house in Tulsa with an assumable loan at a 4.9 percent interest rate. Rents are low, the oil business is creating jobs, and demand for apartments is high.
As with any market, the real estate business is terrible for some people and couldn't be better for others (like me).
But as much as I love real estate, I believe the biggest opportunity today is in silver. I think this precious metal is about to become the most spectacular investment in recent history -- bigger than oil, even bigger than Google.
All That Glitters
Let me give you some reasons why:
• Silver is a consumable industrial commodity.
It's used in computers, cells phones, and electrical relays. This means that as countries like China, India, and Vietnam, and regions like Eastern Europe, become more modernized, the demand for silver will increase.
Silver is also applied in medicine. One little-known use is as a bactericide, a role silver has filled throughout history. Today, medical devices such as catheters and stethoscopes use silver, and every hospital in the western world uses silver sulfadiazine to prevent infections.
• Silver is scarcer than gold.
Gold is hoarded. It's estimated that 95 percent of all gold ever mined is still around. The exact opposite is true of silver: An estimated 95 percent of all silver ever mined has been consumed.
Forty-five percent of all silver mined is burned up in industrial uses. Jewelry accounts for 28 percent, and 20 percent has been consumed in photography. Only 5 percent is in coins.
• Silver supplies are down.
In 1900, it was estimated that the world had 12 billion ounces of silver. By 1990 it had dropped to 2.2 billion ounces. By 2007, the supply was down to 300 million ounces.
Some of the more pessimistic forecasts estimate that the world will be out of silver in about 10 years. This could be catastrophic to the world economy. In 10 years, silver might have as much of an impact on the world economy as $200-a-barrel oil.
A Safe Haven?
As a precious metal, silver is also money. And as the U.S. dollar drops, gold and silver are seen as a hedge against a loss of value. As more and more people wake up to the reality that their cash is trash, real estate is a gamble, and the stock market is too volatile, silver may be a great safe haven.
As I write, silver is approximately $13 an ounce. If industrial consumption continues and monetary panic sets in, who knows how high the price will go? Between 1979 and 1980, silver went to $48 an ounce. In today's dollars, that would be the same as $80 an ounce.
And recently, exchange traded funds in silver have been added as a way for investors to hold silver. The reason I find the silver ETF so intriguing is because an ETF represents real money -- not fake money like the U.S. dollar.
The ETF Solution
Prior to 1963, a U.S. dollar was real money that could conceivably be exchanged for silver. After 1963, it became a Federal Reserve note that was no longer backed by silver. A silver ETF is similar to old-time money, then, and as the U.S. dollar continues to drop in purchasing power these new ETFs may become the "new old money."
The significance of the new silver ETF is that it makes owning silver simple and convenient for the general public. Owning silver ETFs is easier than owning physical silver, which is heavy and requires security such as a safe. And owning silver ETFs is safer than buying a silver mining stock, which can be risky.
Silver ETFs are also pretty straightforward: If silver is $13 an ounce, you buy so many ounces at that price. If the price of silver goes up, you make money; if the price goes down, you lose money. The risk is minimized because you're buying physical silver -- you aren't buying a share of a silver company, which can go bust. As long as the ETF is honorable and protects your silver, your investment is secure. (A caveat: Silver ETFs haven't proven reliable yet, so use caution if you take this route.)
A Rich Find for Investors
My prediction is that the industrial demand for silver will continue to go up as the wider world becomes more modernized. At the same time, as the dollar drops in purchasing power, the average investor will wake up to the convenience of owning silver ETFs and start to buy them.
Consequently, the ETF side will dry up the silver supply for the industrial side. Someday in the near future, then -- maybe in two to five years from now -- these two forces will collide and the price of silver will go up faster than anything on the market today.
The Birth of a Silver Bug
I personally became interested in silver in 1957 as a 10-year-old boy, when I began collecting coins. I became a true silver bug when, in 1965, the federal government took silver coins out of circulation and reduced the silver content of a silver dollar from 90 percent to 40 percent. I immediately began getting bags of coins from my local bank and scratching through them looking for real silver coins.
Little did I know that I was simply behaving according to Gresham's Law, which states that good money goes into hiding when bad money enters the system. Today, I still have the silver coins I socked away as a kid.
While it's true that I could've profited more by putting my money into investments other than coins, my love of silver caused me to watch and understand the silver market. After five decades of doing so, I'm quite certain that silver will soon emerge as not just a good investment, but a spectacular one -- maybe even a once-in-a-lifetime investment. Of course, I've been saying that for 50 years now, so take my advice with a shot of tequila.
Buying In
Anyway, there are three ways to play silver:
• Buy coins from a coin dealer
• Buy shares in silver mining companies
• Cautiously buy silver ETFs through your stockbroker
http://finance.yahoo.com/expert/article/richricher/42433?count=30&start=6#dtk-cmtscnt
by Robert Kiyosaki
The subprime mess is widespread, and it seems to be getting worse. It's certainly worse if you're about to lose your home.
The stock market is schizoid -- up one day and down the next. If you're a day trader, this volatility is pure heaven; if you're getting ready to retire, it's likely to give you a heart attack.
Big Deal
As for commercial real estate, it's a great market. I just bought a 350-unit apartment house in Tulsa with an assumable loan at a 4.9 percent interest rate. Rents are low, the oil business is creating jobs, and demand for apartments is high.
As with any market, the real estate business is terrible for some people and couldn't be better for others (like me).
But as much as I love real estate, I believe the biggest opportunity today is in silver. I think this precious metal is about to become the most spectacular investment in recent history -- bigger than oil, even bigger than Google.
All That Glitters
Let me give you some reasons why:
• Silver is a consumable industrial commodity.
It's used in computers, cells phones, and electrical relays. This means that as countries like China, India, and Vietnam, and regions like Eastern Europe, become more modernized, the demand for silver will increase.
Silver is also applied in medicine. One little-known use is as a bactericide, a role silver has filled throughout history. Today, medical devices such as catheters and stethoscopes use silver, and every hospital in the western world uses silver sulfadiazine to prevent infections.
• Silver is scarcer than gold.
Gold is hoarded. It's estimated that 95 percent of all gold ever mined is still around. The exact opposite is true of silver: An estimated 95 percent of all silver ever mined has been consumed.
Forty-five percent of all silver mined is burned up in industrial uses. Jewelry accounts for 28 percent, and 20 percent has been consumed in photography. Only 5 percent is in coins.
• Silver supplies are down.
In 1900, it was estimated that the world had 12 billion ounces of silver. By 1990 it had dropped to 2.2 billion ounces. By 2007, the supply was down to 300 million ounces.
Some of the more pessimistic forecasts estimate that the world will be out of silver in about 10 years. This could be catastrophic to the world economy. In 10 years, silver might have as much of an impact on the world economy as $200-a-barrel oil.
A Safe Haven?
As a precious metal, silver is also money. And as the U.S. dollar drops, gold and silver are seen as a hedge against a loss of value. As more and more people wake up to the reality that their cash is trash, real estate is a gamble, and the stock market is too volatile, silver may be a great safe haven.
As I write, silver is approximately $13 an ounce. If industrial consumption continues and monetary panic sets in, who knows how high the price will go? Between 1979 and 1980, silver went to $48 an ounce. In today's dollars, that would be the same as $80 an ounce.
And recently, exchange traded funds in silver have been added as a way for investors to hold silver. The reason I find the silver ETF so intriguing is because an ETF represents real money -- not fake money like the U.S. dollar.
The ETF Solution
Prior to 1963, a U.S. dollar was real money that could conceivably be exchanged for silver. After 1963, it became a Federal Reserve note that was no longer backed by silver. A silver ETF is similar to old-time money, then, and as the U.S. dollar continues to drop in purchasing power these new ETFs may become the "new old money."
The significance of the new silver ETF is that it makes owning silver simple and convenient for the general public. Owning silver ETFs is easier than owning physical silver, which is heavy and requires security such as a safe. And owning silver ETFs is safer than buying a silver mining stock, which can be risky.
Silver ETFs are also pretty straightforward: If silver is $13 an ounce, you buy so many ounces at that price. If the price of silver goes up, you make money; if the price goes down, you lose money. The risk is minimized because you're buying physical silver -- you aren't buying a share of a silver company, which can go bust. As long as the ETF is honorable and protects your silver, your investment is secure. (A caveat: Silver ETFs haven't proven reliable yet, so use caution if you take this route.)
A Rich Find for Investors
My prediction is that the industrial demand for silver will continue to go up as the wider world becomes more modernized. At the same time, as the dollar drops in purchasing power, the average investor will wake up to the convenience of owning silver ETFs and start to buy them.
Consequently, the ETF side will dry up the silver supply for the industrial side. Someday in the near future, then -- maybe in two to five years from now -- these two forces will collide and the price of silver will go up faster than anything on the market today.
The Birth of a Silver Bug
I personally became interested in silver in 1957 as a 10-year-old boy, when I began collecting coins. I became a true silver bug when, in 1965, the federal government took silver coins out of circulation and reduced the silver content of a silver dollar from 90 percent to 40 percent. I immediately began getting bags of coins from my local bank and scratching through them looking for real silver coins.
Little did I know that I was simply behaving according to Gresham's Law, which states that good money goes into hiding when bad money enters the system. Today, I still have the silver coins I socked away as a kid.
While it's true that I could've profited more by putting my money into investments other than coins, my love of silver caused me to watch and understand the silver market. After five decades of doing so, I'm quite certain that silver will soon emerge as not just a good investment, but a spectacular one -- maybe even a once-in-a-lifetime investment. Of course, I've been saying that for 50 years now, so take my advice with a shot of tequila.
Buying In
Anyway, there are three ways to play silver:
• Buy coins from a coin dealer
• Buy shares in silver mining companies
• Cautiously buy silver ETFs through your stockbroker
http://finance.yahoo.com/expert/article/richricher/42433?count=30&start=6#dtk-cmtscnt
0
Comments
Hoard the keys.
who else is saying this besides him?
which will eventually be curtailed only by the scarcity of the metal. This will
eventually result in greatly increased mining and exploration for silver. In the
mean time there is no garauntee that silver will act in tandem with gold in a
crisis. Where gold has a function as money, silver is much more an industrial
coommodity and could be left in gold's dust if the economy slows and curren-
cies weaken.
It is highly improbable that any scarcity can develop in the near future barring
greatly increased speculative demand. There is ample supply of obsolete coin
in the world to quench demand for years to come.
But every year that goes by we are a little closer to the point that investors
see that there is no alternative to greatly higher silver prices. It's become a
dangerous game of musical chairs. Dangerous because the amount of silver
is so low and its price so low that the entire physical supply could be absorbed
almost overnight. This market is so tiny at this price that even a significant
number of "liitle guys" can come to control it. When the money comes pouring
in it will be too late to buy and much of the paper silver will evaporate because
the metal is not and never has been there to cover it. The issuers of the paper
will have no choice but to default. In many cases this will not only wipe out in-
vestor profits but even their principle.
<< <i>I believe we're in the early phases of a parabolic increase in silver demand
which will eventually be curtailed only by the scarcity of the metal. This will
eventually result in greatly increased mining and exploration for silver. In the
mean time there is no garauntee that silver will act in tandem with gold in a
crisis. Where gold has a function as money, silver is much more an industrial
coommodity and could be left in gold's dust if the economy slows and curren-
cies weaken.
It is highly improbable that any scarcity can develop in the near future barring
greatly increased speculative demand. There is ample supply of obsolete coin
in the world to quench demand for years to come.
But every year that goes by we are a little closer to the point that investors
see that there is no alternative to greatly higher silver prices. It's become a
dangerous game of musical chairs. Dangerous because the amount of silver
is so low and its price so low that the entire physical supply could be absorbed
almost overnight. This market is so tiny at this price that even a significant
number of "liitle guys" can come to control it. When the money comes pouring
in it will be too late to buy and much of the paper silver will evaporate because
the metal is not and never has been there to cover it. The issuers of the paper
will have no choice but to default. In many cases this will not only wipe out in-
vestor profits but even their principle. >>
Are you referring to ETFs?
<< <i>
Are you referring to ETFs? >>
The ETF's appear to be at least 70% or so backed by silver and every indication
is that they are moving in the direction to be completely backed.
But most of the "paper silver" has no real silver behind it. These often appear to
be actual vault receipts but are, in fact, only financial instruments.
Even the commodities markets now days are somewhat suspect since they have
often changed the rules when markets become "unstable". They've been in tech-
nical default a couple times in the last several years.
Brothers, that sure was a nasty report. Does this mean we're all gonna die when the silver is used up?
Russ I think to make money on something like this you would need to be looking at hundreds or thousands of ounces, so there is still time, and as OPA mentioned it's been said before so it could take a few more years yet.
<< <i>Thanks Sam - I may look into some ETFs on Monday.
Russ I think to make money on something like this you would need to be looking at hundreds or thousands of ounces, so there is still time, and as OPA mentioned it's been said before so it could take a few more years yet. >>
Silver may go up or it may go down. Little guys following the advice of popular authors into non-traditional investments usually leads to the same result. As Russ would put it, fresh meat.
For readers, this is a coin board. There is a lot of bullish bias towards metals on this board. No one with half a brain would invest real money based on information or opinions on this or any other public Internet board, without doing a lot more due diligence. Following hot tips or second hand newsletter tips, traditionally has been a good way to lose money.
If a person is interested in silver or any other investment, go slow, average in, get an average price over time. Never borrow money to invest. For novice investors, it is foolish to make silver or similar, a large percentage of net worth. Over the long term, no one, except futures traders or prospectors has ever gotten wealthy off silver. This is very different from real estate, or stocks, where large numbers of average people have made large fortunes. Yes, these areas may be down for the count and as always past performance is not a guarantee of future results. That said, I don't think I'll be reading about very many silver made fortunes in the future. It just doesn't happen that way. It might be a good store of value, but over time it has rarely been a good long term investment.
With all that, some readers will conclude that I am bearish on precious metals. Far from it--I believe both silver and gold will go much higher in the long term. I still continue to caution the average reader, the average collector that there are a lot of ways to lose money, and following hot tips on the Internet or second hand reports from popular authors ranks high on the list of ways to lose.
<< <i>Thanks Sam - I may look into some ETFs on Monday.
Russ I think to make money on something like this you would need to be looking at hundreds or thousands of ounces, so there is still time, and as OPA mentioned it's been said before so it could take a few more years yet. >>
I was kidding. I have plenty of exposure to silver in my coin collection.
<< <i>The timing makes sense. I just sold 60 ounces of junk silver. >>
If it was THAT scarce or rare or in short supply, you wouldn't have 60 ounces of junk silver to sell.
With that reasoning, almost nothing in the world is scarce, not even 100 oz. gold bars or $4 Gold Stella's. Real estate or land is not scarce either. Neither are sky scrapers, ranches, farms, or ocean liners. Go try and buy one.
Silver is scarce enough that very few households world wide can even own a single ounce of it. The circulating US currency is about the equal in value to all the gold and silver supply out there. And we're not even wandering into the "debt" landscape.
Silver will exceed it's previous high adjusted for inflation. It's only a matter of when. And in usual fashion it will catch most everyone sleeping when it does.
roadrunner
This guy appears to have made his money in property and I dont remember when fixed mortgage rates were ever at 4.9% so he has probably taken a chance on an ARM as well and may be selling his silver to cover the rising mortgage rates before long.
As with any investment , silver has its place in a portfolio and I am personally very bullish at these levels and wish that I had bought more when it was $5 oz , but I am not willing to bet the farm on it going much beyond $15 -$20 oz in the next few years.
I keep some as 25% of my precious metal holdings ( physical) and trade its ups and downs on the stock market using SLV the ETF.
I dont think that it is prudent to make precious metals any more than 15-20% of your total investment.
As a South African why dont you like Platinum??
Great time to buy coming up, with the collapse of the credit bubble about to create a deflationary period.
<< <i>...
As a South African why dont you like Platinum?? >>
Here is a cut and paste from a previous platinum discussion.
Nearly one third of newly mined platinum is used in auto catalytic converters and some say some day this will no longer be required.
I recently read that "some manufacturers are using less expensive palladium in place of platinum in catalytic converters. As a catalytic converter component in diesel engines, palladium is proving to be a better than platinum"
There are also two technologies that would get rid of the catalytic converter as we know it today:
"The Pre-Ignition Catalytic Converter integrates the GEET Reactor developed by Paul Pantone and purchased by Dennis Lee for Better World Technologies. It involves the pre-heating of fuel by passing it's lines through the exhuast along a rod. The claimed result is that the fuel it turned to plasma, in its elemental, atomic state, and burns super efficiently and cleanly. Other items can be added to the fuel as well, and it will still burn, including water, pickle juice, pop, sugar, waste oil, etc.
You can also look up the Hydro Assist Fuel Cell.
"Live long and prosper"
My "How I Started" columns
<< <i>Anyone with $13K to spend can go to Englehard and buy a 1,000 once bar of the stuff. There are plenty of folks out there to whom $13K is petty cash; its just that owning a 1000 ounce bar of the stuff doesn't excite them. >>
How large Is A 1000 oz bar ? Pictures?
<< <i>
<< <i>Thanks Sam - I may look into some ETFs on Monday.
Russ I think to make money on something like this you would need to be looking at hundreds or thousands of ounces, so there is still time, and as OPA mentioned it's been said before so it could take a few more years yet. >>
Silver may go up or it may go down. Little guys following the advice of popular authors into non-traditional investments usually leads to the same result. As Russ would put it, fresh meat.
For readers, this is a coin board. There is a lot of bullish bias towards metals on this board. No one with half a brain would invest real money based on information or opinions on this or any other public Internet board, without doing a lot more due diligence. Following hot tips or second hand newsletter tips, traditionally has been a good way to lose money.
If a person is interested in silver or any other investment, go slow, average in, get an average price over time. Never borrow money to invest. For novice investors, it is foolish to make silver or similar, a large percentage of net worth. Over the long term, no one, except futures traders or prospectors has ever gotten wealthy off silver. This is very different from real estate, or stocks, where large numbers of average people have made large fortunes. Yes, these areas may be down for the count and as always past performance is not a guarantee of future results. That said, I don't think I'll be reading about very many silver made fortunes in the future. It just doesn't happen that way. It might be a good store of value, but over time it has rarely been a good long term investment.
With all that, some readers will conclude that I am bearish on precious metals. Far from it--I believe both silver and gold will go much higher in the long term. I still continue to caution the average reader, the average collector that there are a lot of ways to lose money, and following hot tips on the Internet or second hand reports from popular authors ranks high on the list of ways to lose. >>
Fred, Las Vegas, NV
<< <i>
<< <i>...
As a South African why dont you like Platinum?? >>
Here is a cut and paste from a previous platinum discussion.
Nearly one third of newly mined platinum is used in auto catalytic converters and some say some day this will no longer be required.
I recently read that "some manufacturers are using less expensive palladium in place of platinum in catalytic converters. As a catalytic converter component in diesel engines, palladium is proving to be a better than platinum"
There are also two technologies that would get rid of the catalytic converter as we know it today:
"The Pre-Ignition Catalytic Converter integrates the GEET Reactor developed by Paul Pantone and purchased by Dennis Lee for Better World Technologies. It involves the pre-heating of fuel by passing it's lines through the exhuast along a rod. The claimed result is that the fuel it turned to plasma, in its elemental, atomic state, and burns super efficiently and cleanly. Other items can be added to the fuel as well, and it will still burn, including water, pickle juice, pop, sugar, waste oil, etc.
You can also look up the Hydro Assist Fuel Cell. >>
Yup , thats the name of the game , if you were around in late 2000 to early 2001 , the story was that they had some new technology that would replace platinum in automobiles, and that platinum was too expensive and they could use palladium for the same thing. Bottom line , within a few months palladium was as expensive as platinum and then Russia decided to interfere with palladium supplies and palladium went ballistic (almost $1100 oz) and by October 2001 it was back down to where it is now. Another bubble a few years later when fuel cells became the rage on CNBC and then it crashed again .
The news that Nissan has some new technology to replace platinum was just a few weeks ago and platinum plunged but appears to have recovered, we are on the hypemobile.
I dont have a clue which one is the best of the PMs so I try to accumulate a little of each
<< <i>
<< <i>Thanks Sam - I may look into some ETFs on Monday.
Russ I think to make money on something like this you would need to be looking at hundreds or thousands of ounces, so there is still time, and as OPA mentioned it's been said before so it could take a few more years yet. >>
Silver may go up or it may go down. Little guys following the advice of popular authors into non-traditional investments usually leads to the same result. As Russ would put it, fresh meat.
For readers, this is a coin board. There is a lot of bullish bias towards metals on this board. No one with half a brain would invest real money based on information or opinions on this or any other public Internet board, without doing a lot more due diligence. Following hot tips or second hand newsletter tips, traditionally has been a good way to lose money.
If a person is interested in silver or any other investment, go slow, average in, get an average price over time. Never borrow money to invest. For novice investors, it is foolish to make silver or similar, a large percentage of net worth. Over the long term, no one, except futures traders or prospectors has ever gotten wealthy off silver. This is very different from real estate, or stocks, where large numbers of average people have made large fortunes. Yes, these areas may be down for the count and as always past performance is not a guarantee of future results. That said, I don't think I'll be reading about very many silver made fortunes in the future. It just doesn't happen that way. It might be a good store of value, but over time it has rarely been a good long term investment.
With all that, some readers will conclude that I am bearish on precious metals. Far from it--I believe both silver and gold will go much higher in the long term. I still continue to caution the average reader, the average collector that there are a lot of ways to lose money, and following hot tips on the Internet or second hand reports from popular authors ranks high on the list of ways to lose. >>
I certainly didn't mean to imply that people should mortgage their house and buy silver.
I do believe that silver is an extremely bullish investment in the knack that humans have
for solving problems. It's a bet that the economy is going to be strong and that silver con-
sumption will remain well higher than production.
It's also a bet that silver will continue to be used in increasing numbers of new products.
It's a bet that human nature ignores trends until they can no longer be ignored. When
silver's trends can no longer be ignored the price will be at a far higher level barring major
disruptions and unforessen events.
Gold is always good insurance and now it's a good investment. If you believe that we'll
find a way to move forward through our problems then silver is one of the best investments
of all time. Yes, you can lose and you should consider it a long term investment. If demand
stays static it could take 30 years for the shortage to be felt. But, my main point is that if
every person in the world decided to buy silver then there's only enough for everyone to
have a few dollars worth at its current valuation. Look how much oil we consume. Look
how much of nonessential commodities we consume. But as important as silver is, there is
only enough for each person to have a few dollar's worth. Next year there will be less sil-
ver in the world. Will the price be lower?
As it comes in I buy it at X and sell it for X+% almost on a weekly basis. Some weeks Ill get a little other weeks I get a good amount. This is a safe way that always guarantees a percentage return on dollars spent, if you dont get greedy!
jim
roadrunner
I give away money. I collect money.
I don’t love money . I do love the Lord God.
How large Is A 1000 oz bar ? Pictures?
,,,,,,,,,,
Dunno, never seen one. I suppose one could google it tho.
here is one place to look.
If its that scarce then why is the Mint peddlin it by the truckload in the form of ASE's? It would take about 10 semi trucks to deliver to your doorstep the amount of plain ol ASE's that the Mint strikes every year and that doesn't include proofs or the W mints or any other special silver issue commems.
roadrunner
<< <i>I think its more than 90% pure silver. >>
I think what roadrunner means is that 90% of the silver used to make the ASE coins comes from other recycled silver coins.
Thats seems quite high to me though.
Found your post while lurking. Thank you. I couldn't agree more with your analysis, though my basis for support is less informed than yours. Your post was nicely presented and the history of your involvement with both coins and silver was fun to read.
If you had to say, what would you guess would be the first indicator(s) (beyond what's already taken place) that another broad-based move up was beginning?
Are they both still alive? I thought that I read that one of them passed several years ago.......?
every treasure on Earth
to be young at heart?
And as rich as you are,
it's much better by far,
to be young at heart!
Then I'll pump some silver and get huge.
<< <i>Hi guys please dont think the article I posted was mine - it was written by Robert Kiyosaki (author of Rich Dad Poor Dad). I posted it because it was an entertaining read and I wanted peoples opinions. I also posted the link below the article which also has a lot of readers feedback... >>
i think we got that
Coins for trade
Sincerely,
unimpacted Joe
``https://ebay.us/m/KxolR5
Being a physical metal, there is a limit as to how much the price can be manipulated with derivative financial instruments - one of the biggest reasons that I like it as an investment and a hedge against the combination of the fractional reserve banking system and bad government policies.
I knew it would happen.