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US $19.99
Gold's Mine-- And Why You Should Keep Yours, Too
Are you paying attention to all of the advertisements that are popping up on radio, TV, in print, and even on billboards concerning gold? If you have gold jewelry you can send it in and get back a hefty check in the mail. What's more, if you live in a major metropolitan area or close to one there are scheduled events that you can attend to have your valuable items appraised and secure cash in hand before you leave. There are even "gold parties" where individuals set up a meeting in their home. One participant in this trend calls it "your grandma's new-age Tupperware party"- same idea; you supposedly leave feeling a little richer than before you came.
Warning: this is a long line of signals that you should be paying attention to.
First ask yourself why these companies want your gold and why you should part with it at such a discounted rate. In the present uncertain economic environment gold is becoming increasingly popular... to the keen. But it is still very much underappreciated, and to the unwary, it is only seen as a mess of pottage to trade for something more instantly gratifying. If gold is appreciating in terms of dollars, why should you downgrade its value by handing it over in one of these shenanigans that make false claims of paying top dollar? Recognize that even the U.S. Mint cannot supply enough Gold Eagles to meet demand without interrupting production because of shortages. This is unprecedented. The Mint has also drastically pared down its several offerings. Giving up your gold in a seller's market (demand outstripping supply) at a discount isn't exactly a smart move.
Unfortunately, many of the individuals who will end up trading in their gold now are the ones who could benefit most from it later. I don't fault these folks. Times are hard for many, and money is tight. The cash-giving companies recognize the financial straights of many down-on-their-luck Americans, and set up shop to capitalize on the situation to milk it as long as they can. Joe Unsuspecting pays a couple of late bills, or has a night on the town, and the gold purchaser makes the alluring spread on the deal.
Pay attention to another telling "signal." Yes, I'm sure you've heard of all the macroeconomic indicators of the failing economy. The housing bubble's burst, the trillions in bailout funds, the near-zero interest rates, etc. These certainly matter, but what is nobody talking about? Mainstreet, America is now lined with payday loan establishments! They are putting the squeeze on the surrounding retail establishments. They are in the business of selling money, and it ain't cheap. Annualized, their rates are upwards of 500%. And they have plenty of customers. How does this relate to the economy? Money has been plentiful, and our appetite for it much like a drug addict. But how much of this gets paid back on time like it states in the contract? In many cases it's rolled over or defaulted on. It's a micro view of government spending. The massive deficit spending has found its way into the hearts of the people.
This is the point: government is only as powerful as the power that the people give to it. Money will soon become as available as ever, but more so. The people will give the power to the government and the Federal Reserve to "deal" more money. But that was the problem in the first place-cheap money. This caused careless misallocated investing. You will then see money as expensive in the more traditional lending facilities (local banks) as they are now at the payday loan establishments. More defaults will follow. Money that can't be paid back isn't worth much, is it? Look, if you really want my receivables (cash) you can have them, but I won't tell you that I have allocated them to my allowance for doubtful accounts.
Gold isn't anybody else's liability. And it doesn't grow on trees. Get smart and be on the right end of the cash for gold transaction. Make sure you have your share before the dollar bubble pops.
About the Author
All around the mulberry bush the dollar has been growing, pop goes the dollar. For some wonderful gold and silver purchasing resources, visit http://www.goldandsilverbullion.in
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This entry was posted on Tuesday, August 5th, 2003 at 5:53 pm and is filed under Cookies. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
