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The Most Important Wisdom I Can Impart

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Published : December 06th, 2012
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Category : Market Analysis





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.”




Data and Statistics for these countries : India | All
Gold and Silver Prices for these countries : India | All
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Andrew Hoffman was a buy-side and sell-side analyst in the United States (including six years as an II-ranked oilfield service analyst at Salomon Smith Barney), but since 2002 his focus has been entirely in the metals markets, principally gold and silver. He recently worked as a consultant to junior mining companies, head of Corporate Development, and VP of Investor Relations for different mining ventures, and is now the Director of Marketing for Miles Franklin, a U.S.-based bullion dealer.
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You taught me well, Obi Wan Kenobi.
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You taught me well, Obi Wan Kenobi.  Read more
Gypsy - 12/7/2012 at 6:42 PM GMT
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