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I was all
set to write of a different topic, when Bill Holter’s
Report came through my email…
So
how should you really look at it? – Bill Holter,
Miles Franklin
The most
valuable tool I learned on Wall Street was repeating key themes; and
given that Bill put a new spin on the most important topic we deal
with, I felt it worthy of its own RANT topic.
Recall my
November 12th RANT, “THE
HOLY GRAIL OF THE FINANCIAL WORLD” – in which I stated:
The MOST
IMPORTANT WISDOM I CAN IMPART ON YOU – above all - is that PHYSICAL
gold and silver are REAL MONEY, and all else fiat. That is, by holding your
wealth in PHYSICAL PMs, you are not “investing,” but saving.
In other
words, once you realize PHYSICAL gold and silver are immutable stores
of value, the journey toward realizing “wealth” is best measured
in ounces – NOT dollars, Euros, or Yen
– will be complete.
Even I
– RANTING ANDY – did not fully “get it” until nearly
a decade of “investing” in the sector; mostly in PAPER mining
shares, until I “saw the light.” But finally I did – circa
2009 – and at any given time, I ASSURE you I’m more aware of how
many ounces I own, than their “dollar value.”
By the
way, my revelation is nothing new in the Eastern Hemisphere;
particularly INDIA, the world’s largest gold market – despite
centuries of abject poverty…
India’s love
affair with gold – 60 Minutes
Back in
2006, when I wrote an entire “initiation report” on the sector
– as I searched for a sell-side Precious Metals analyst position that still
doesn’t exist in the United States of Paper – I cited a passage from
James Michener’s fictitious novel “Caribbean”, in which a
young Indian emigrant recounted his grandfather’s description of love:
How to
treat grave robbers – When the wife of my great-grandfather died, he
buried her wearing all her gold and silver, and an English official
protested: ‘ But you’re throwing away a fortune’, but he
replied: ‘She brought me a fortune, and I would not like to see her in
another world poorer than when she came to me.’ Three days later, when
the police came to the Portugee Shop to inform him
that grave robbers had dug into her coffin and taken all the precious metals
and the jewels, he said: ‘They were hers. She spent them as she though
best.’ But when some of the jewels surfaced in the Trinidad bazaars
sometime later, he made careful note of who had them and of how they had
obtained them, and shortly after that several men were found dead…one
by one.
That
paragraph still moves me; as it goes deep into the psyche of a
culture understanding the value of REAL MONEY; with little or no concern for
the nouveau creation of worthless “Rupees”.
Hopefully,
it touches you as well; and helps you realize that one day –
potentially, VERY soon – the ENTIRE WORLD will understand this immutable
truth; perhaps, simultaneously. Thus, the TRUTH of PHYSICAL PMs as
REAL MONEY is “THE MOST IMPORTANT WISDOM WE CAN IMPART.”
PROTECT
YOURSELF, and do it NOW!
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