Bullion crazy = financial problems?

But could he blow this much smoke up skirts if his fund was instead a stock fund regulated by the SEC? That is my point sir. He is playing as if his fund is as good or better than stocks, yet using the fact its not stocks to avoid SEC rules.

However, I would be satisfied if everyone simply knew he was a salesman and treat him as such. I have simply seen way too many people on CT and in real life parroting his selling points as if they came from the messiah himself. I know you can't fix stupid, but I sleep better at night knowing I tried to post a warning.

 

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If the name of the game is to sell your fund, then he did or does it right. You see, he's pushing the right buttons by stating it's backed by physical and that physical can be withdrawn from the fund and the other stuff that "stackers" love to hear. He sells his paper as physical, when in the end it's still paper. My real thoughts on Sprott are he is somewhat of a wildcard in the deck. You just don't know for sure if he's helping or hurting the market and it's motions, add to that what his real motives may be, which I'm guessing is profit for his firm and you have a wildcard.

There was a thread about him buying physical for his fund on silver stackers, Bron Suchechi (sp?) called him out on how poorly he handled the purchase of physical and the long delays it took him to take delivery after payment. It was kind of comical and was just about all I needed to read to see that he's no Robin Hood for the downtrodden and abused in PMland.

 

Well, I expect him to run his business in an ethical manner. He is doing much more than putting a good light on his products. I am really having a hard time understanding why you somehow think it is OK for Sprott to blow a bunch of sunshine up someones skirt.

Why are you giving the Bullion guy a free pass, like it all cool, he is only trying to make a buck, when your view on the equities guys is so much different.

Here is a quote from you in June calling the "market guys" criminals and cheats. Aren't they just trying to make a buck too? Isn't your point, you need to take responsibility for yourself and no one is forcing you to buy anything, it is your own decision?

 

Maybe you see him as a bullion guy, that doesn't mean I have to. He has funds with connections to PMs, but is a salesman when all the smoke clears.

You might consider the context of that quote you put in you previous post. It was about the Comex, and that I see them as criminals in charge of a monopoly. Context is the key...not the words...it irritates me when people try to take stuff I post and apply it in a different context, how do you feel about it?

Now I'm going to go back to being a moron and allow you to go back to being a genius.

 

C'mon Peace,

The point is still valid and you know it. You have two standards, for some guys it is buyer beware and for other guys they are cheats and criminals. Do I really need to go back and find a post where you are trashing the equitiy guys?

Now it seems you are calling Sprott "just a salesman". Everyone in the World knows him as a bullion guy and you know too. This guy was held in reverance on this board. He was quoted often, and considered a guru. He stated his philosophy about how he is against diversification, how he thought silver was going to $100 and higher, and continuously professed how PM's was the only answer to financially security. You are calling this guy "just a salesman"? Why are you defending him? He made $150 Million dollars this year when all of his disciples took a total clobbering. He made money telling people that bullion was the answer but apparently did not take his own Gospel to heart as it would be immpossible to grow his net worth 15% this year if he was invested in bullion.
I just don't get it. I am going to let you have the last word here as I am done.

 

Not one time did I ever consider him a guru. You can search every board I post on and you'll never find me extolling his virtues. At no point did I defend him, mostly because I don't care...

 

I wouldn't put him in the same category as salesmen, and insult that group. People like Sprott are no more than modern day snake oil men, scaring people into buying their product. Anyone who thought he honestly thought silver would top $100 is the most gullible person I can imagine. Thats not innocently selling a product, it's fear-mongering and downright dishonest thievery.

 

I get very weary of all the scare mongers and scared little people with doomsday fantasies too.

 

But now you are just insulting the whole group of snake oil men

 

Dang, you're right, Mike. We need to make up a new group to put these type of people in.

 

Financial problems are irrespective of bullion. It doesn't matter what it is. Some people spend all their money on cars, some people on shoes, some people on living large. Either you are fiscally responsible or you aren't. In my experience stackers tend to be more fiscally responsible because they are forward thinking and saving for the future. There is certainly an element of wanting to keep buying because it feels good to know you have a nest egg that is safe from the financial system, but if you get into a situation where you have to sell your metals to make ends meet then it defeats the purpose.

 

I call this group stock pushers....

 

To say that you know for a fact what Sprott honestly thought about $100 silver is pure conjecture on your part. You have no idea what is going on in his head. We only know what he said. Whether it was deception or not, we can't know without his admission or else some sort of proof that does not yet exist. To say he is fear-mongering and dishonest is a leap of faith on your part, not founded on facts.

He gave sound reasoning for why he thought silver would go up, because people were buying 50 times more silver than gold (equal dollar wise as the GSR was 50:1 at the time). While that ratio is logical from a price standpoint, it is very skewed from a supply standpoint and the reasoning is still sound today. You need not trust the man to understand reason, but for some reason people like to demonize him and somehow think that undermines sound reasoning because of the messenger which is also a leap of faith.

 

Now that was funny

 

InfleXion, where you been? we missed you....

Well, it is a bit more than conjecture, As I stated in another post, Sprott is on the record saying he is totally against diversification. Now he says silver is going to 100. So how would you explain why he wasn't heavily invested in silver or at least metals in the last year? What conclusions would you come to?

 

I agree, I missed you too Inflexion.

 

As far as: Stackers like to think that when they need to use/sell their bullion it will be at some future point in time when crisis is everywhere affecting others around them, but that they'll be buffered by their bullion and afforded options other don't have.:

I think some of them love that idea. How great it would be to be the one of the only people in your town who had the prescience to stockpile silver coins in preparation for whatever kind of Armageddon type event--financial, or otherwise--they're imagining. So they can buy fuel, canned goods, bullets, whatever, while the poor schmucks who weren't smart enough to "stack" PM are stuck with their then-worthless "fiat currency".....

Probably most "stackers" aren't that extreme, but far too many seem almost brainwashed into paying $4 or so over spot for common ASE's or ML's, or whatever the crazy premiums are now for 90% on fee-bay.....

 

FWIW, I think modern snake oil salespeople (housewives, alternative medicine caretakers, etc) actually believe their products work. Maybe they're abusing the concept of placebo effect, but I do have the impression that their passion about their products is genuine.

 

Some are, but there a at 3 three major problems to that way of thinking.

First, from my "ZEN" point of view, I am not interested to prepare for being the happiest guy in a disaster, since no matter how you look at it, it is still a disaster. I rather be a happy guy in good times. You could debate that forever though.

The second thing is there is every possiblitly that PM's won't be worth much, something, the stackers think is impossible, but not so.

Third thing is, in my opionion, if PM's are worth something they will wind up in the hands of the folks with the biggest armies, not the folks who actually stacked them. A VERY REAL possibility.

Mike

 

Well said sir........