A day doesn’t go by that I don’t read what Ranting Andy Hoffman has to say. I hope you follow his Miles Franklin Blog every afternoon as well. One thing stands out in Andy’s blogs. Day after day, there is a litany of frightening headlines. The list is growing longer. The issues are growing larger and now encompass cities, states, countries and even the entire European Union. Let us not forget the banks – especially the “to big to fail’ monstrosities that have devoured our savings and capital and are teetering on the edge of collapse for a second time in the last three years. How anyone can read these headlines and not be concerned, no make that frightened, is beyond me. And yet virtually every time I have a conversation about where we are headed with a new listener I get a comment back something like “boy, you sure are negative.” Negative? How about “realistic.” For the majority, being “realistic” means clinging to the belief that we can work our way out of this mess (assuming they know there is a mess in the first place). Dare I even suggest that when you look at the sheer numbers involved, it becomes mathematically impossible to fix the problems. All we can do, and have been for some time now, is kick the can down the road.
But that doesn’t “fix” anything and I’m afraid there isn’t much more road left before the can hits a wall.
For the past three decades I have faced mostly disbelief and “rolled-eyes” when I started to talk about the problems that we face. And in the future it will do no good to remind people, friends and relatives included, that “I told you so.”
The world is full of Backwoods Jacks – well to do and highly educated folks who think I am a “wing-nut.” No matter how many articles I send to him or how often I refute his views, I never get through his unbridled, blind “optimism.” At least I did get him to buy a lot of precious metals, but he only bought them as “an investment,” not as a hedge against a collapse of paper currencies, depression or hyperinflation. No, he never acknowledges the problems and always comes up with a variation of the same theme – Americans are ingenious and we can fix any problem. Any problem? Try wishing away a quadrillion in derivatives or a $15 trillion debt (more like a $100 trillion debt when the off-budget items are considered).
I often feel as if I have been a failure, but that is not really true as we now have nearly 20,000 readers and thousands of clients so I am reaching a lot of people. I must be doing something right because Andy Schectman and I have built a very large and successful firm and we did it by educating our readers and providing a solution to some very real and pressing problems. If it were only about “making a living or a profit,” I wouldn’t take it so personally when I fail to get a friend or relative to understand what is REALLY happening. If I sold Miles Franklin tomorrow, and had no vested interest in precious metals, I would still do exactly what I do every day – read for hours and send out information to close friends and family. I would still buy more gold and silver at every opportunity – not to watch my net worth grow, but with the understanding that it is the only fool-proof way to keep what I have already accumulated. This is the age of tangible things, not about paper investments. I hope you have learned that as you read this daily. We are giving you our best honest advice and I have no doubt that the advice we give you is correct! That’s why I brought Ranting Andy aboard – he pounds the table louder than anyone else in the industry, and he is right. I know it, he knows it and many of you already know it too. We have reached the point in time when being subtle or low-key is no longer an option. There is not enough time left before we hit the endgame and to survive the endgame with your wealth intact, you need to act now, while there is still time, and convert paper into liquid tangibles. Gold and silver are the best form of liquid tangibles. Take it from the old-timers like Richard Russell and Jim Sinclair, who I bring to you on a daily basis. Take it from me – to my chagrin, I am probably an “old-timer” now too. Yes, I have been doing this for nearly 30-years so I ain’t no spring chicken.