Why most people buy PMs for the wrong reasons...

FoxConn which builds a substantial amount of Apple products has their factory in China equipped with suicide nets. Some employees live there. Some employees aren't even teenagers yet. I'm amazed that anybody would give Apple their money. I'm equally amazed that anybody would give Google their money. But then I actually value my privacy which seems uncommon these days.

When investing in metals you don't have to worry about how well managed a company is, whether it has integrity, or whether its means of profitability is a scourge on society (insert chuckle here). The integrity of metals is built in due to their intrinsic properties. You can't print them from thin air. With a metal backed currency there is no purpose for monetary policy, because the metal regulates itself due to inflation matching the quantity mined which is relatively stable. Metals are the ultimate means of ensuring integrity, because they function without human intervention and independently of intent. Investing in stocks is investing in the integrity and capability of other human beings. I am not nearly trusting enough to do that without the expectation that it is a considerable gamble. Metals are a gamble too, but they'll always have some value no matter where or when, and they are far less of a gamble than sitting on debt based currency that only functions because of mandate from an insolvent government.

 

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You really do need to get on the next season of "Last Comic Standing". You're killin' me here.

 

Odd-duckness aside, I am posting in all seriousness. The financial system poses immense risk to its investors due to infinite rehypothecation. I would feel guilty if I did not warn people and tout the benefits of precious metals.

 

And I feel guilty even letting other people know I'm a coin collector because I don't want to be responsible for leading them to near-certain ruin, by misinterpreting that as my endorsement of precious metals.

 

Because it's certainly never the case that mining and refining companies mistreat their workers.

 

... or that we have yet another criminal enterprise taken down for fraud in the precious metals field.

http://www.coinweek.com/people-in-t...million-illegal-precious-metals-transactions/

PM buyers are easy marks for con artists because of their fervent near-religious attachment to PM's. Criminals know this and target the field for that very reason.

 

Back before the US uncoupled PMs to other dollar, Russia used to convert monies to the US Dollar then redeem it for PMs. Then ship the PMs back to the motherland as it was worth more.

This of course created an issue of maintaining the US Gold reserves.

I recall reading about those FoxConn factories with suicide nets. There's a few youtube videos about them.

 

The thing about FoxConn is that ALL smartphone makers have them done by FoxConn, not just Apple. Apple is the one most aggressive in trying to get reforms, but at the end of it all, China is gonna be what China is.

 

Or we don't have individuals trying to corner a PMs market such as the Hunt brothers in the 1980s, leading to huge financial losses.

 

What precious metals outfit do you work for? It's unusual for an everyday investor to use the word "tout."

 

Not all of them do, and I avoid the ones that do. Unlike the hypocrites that think Apple is this wonderful magical ethical and environmentally charming company.

My last major buys have all been American and other well known refineries. And since most of mine is in US coin, I'd say look to the US Mint.

 

I've clearly articulated the reasons why precious metals have integrity and why financial markets have risk. You throw out the opposite position with no justification whatsoever. When you can do the same, then your opinion might carry some merit in my book.

Near certain ruin? Do you know the future? Because if you don't, then you can not have any level of certainty.

I suppose if you did endorse precious metals in the same breath as Apple, I'd have to seriously question my reasons for owning metals for having that in common with you. But then I already have seriously questioned them, so no reason to give pause.

This is my final response to you. I have a policy of not feeding the trolls.

 

My profession is unrelated to precious metals or investment of any kind. It is purely a hobby for me, one which I take very seriously due to the negative consequences nations face when their currency can be created from nothing in order to enable limitless spending by corrupt power structures. I don't like seeing people suffer and be subjected to manipulation for their ignorance, particularly when it equates to needing my charity that could have been prevented with education.

 

Whether you agree or disagree with a member here, you haven't given enough to this site to call anyone a troll.

 

It's very easy to see the world one way from a singular viewpoint.

The idea is to understand that one size (or brand) does not fit all, and for a multitude of reasons.

Everything has some risk associated with it. From PM's to stocks to buying day old bread off the back of a truck. The true learning comes from understanding your own strategy, tolerance for risk, and goals.

Goals can be financial, strategic and even ideological.

I won't go on a political rant, but a stark example of this was spoken by Jim Cramer over a decade ago on TV that got me to realize there so many ways to achieve all kinds of objectives.

Mr. Cramer spoke of "gun control" and pointed out the fact that one way you can vote with your pocket book is to short Smith and Wesson stock, and that even for an anti-gun person - they can make money on the stock itself and then turn around and donate that money to an anti-gun charity.

Opinions aside, the technical function of what he said rings true. This is an ideological goal - not purely a financial or security goal.

Reality showed us that shorting S&W would have been a VERY bad idea, and would have lost a lot of money - but the theory is technically sound.

Yes, but Apple attempts to "perfume the pig" and while "touting" their social and environmental responsibility by using stunts such as their new 23MW solar farm that they just built about 5 miles from my property - they have created environmental and social nightmares in other countries that dwarf the good they do with the solar farm - not to mention the main reason for the solar farm was a tax dodge in the first place - just like all the money in Ireland.

At least Samsung admits to creating "global warming" by creating phones that spontaneously combust.

You have entirely too much restraint, tact, patience, respect and class to be my friend - my friend... We should all aspire...

 

I am quite proud to call Santinidollar a friend, having now tipped a glass or two and broken bread in each other's presence in The Big Easy on an uncharacteristically nice August evening. Kirkuleez as well.

I do get what Brett and others of the PM camp are saying and I am aware from whence those beliefs come. I believe those sources are specious to irresponsibly dangerously wrong, that's all. I admire Brett for believing in SOMETHING strongly, because even that is getting hard to find.

 

Brett,

I agree with you that Apple is putting lipstick on a pig about their "green" record. Since Al Gore is on their Board, as well as other "green" advocates, they feel they have to sell that idea, as well as to the modal "Silicon Valley Culture". I'm certainly NOT the right audience for that pitch. I have come to know that our environment is remarkably resilient. While you might not want to live close to either, I notice both flora and fauna do reasonably well near both Fukushima and Chernobyl. "Life finds a way."

Oh..., and I pass right by Three Mile Island ten times a week. Choo choo!

 

I think he read the title wrong... he thought it read, people that post here for all the wrong reasons... it's a comprehension thing

 

He's been here way longer than you have and has contributed plenty...