My warning to family on 1-29-09 related to today's highs.

[cpy911]

All,
I warned my friends and family to buy gold on Thursday, 29 Jan 2009.
The price that day was $892.25, today $1236.50
I bought several coins that day.

I was a GIM1 (RIP) newbie at the time and my eyes were just getting opened! (I now look at physical as #1 priority.)
I also am getting into Silver.

This is a 38.638 % increase since my warning...
Below is my mother-in-laws response...read on for my warning. Note HER remarks in RED
and tell me what you think...

When is it time to rub it in that she was wrong and still probably thinks gold is a barbaric relic?

cpy911
================================================== ================================
HER ORIGINAL REPLY:

If you are going to buy physical gold, may I suggest a safety deposit box?

I have had pretty good luck buying Goldman Sacks at around 60 and selling around 80. I wish I had hung on until it went up to 88 yesterday. I never hit the highs or lows. I just ry to make north of about 20% on each trade.

Another trade I have been thinking of is buying DIA when the Dow hits about 7900 and selling at about 9000. Then turn and play the opposite. Buy the SDS when the Dow is about 9000 and ride it down to 7900 and then start all over again.

I know gold is up now, but when it crashes...ouch.



CXXXXX
================================================== ===============================

MY ORIGINAL WARNING:

Date: Thu, 29 Jan 2009 20:52:18 -0800
From: XXXYZ@yahoo.com
Subject: Gold
To: XXXYZ@hotmail.com; XXXYZ@q.com; XXXYZ@ooo.net

It is time to buy gold in my humble opinion (well, more like 2001 when it was $300/oz)...but you have to figure it all out for yourself. This is just to get you thinking. I know gold is at $900/oz right now and seems historically high, but the amount of paper they are printing is unprecedented...the Dollar is getting devalued and quick. Gold is fairly valued asset right now...it won't make you money, just protect it.

If you are interested, I have now researched multiple ways to buy gold coins for home storage, bullion for overseas storage (Zurich), and IRA Transfer for Domestic storage for increasing gold in ye old portfolio. I have found the best places and prices for this and its working. I only wish I had more of the shiny yellow metal that can not be easily printed!

Well this is all food for thought...

[ximmy]

I also warned my family around the same time... all the while I've been buying... they just shrug their shoulders... and keep the dollars... even as of today, only my sister has recently started collecting metal

[k-os]

I warned my family in 2008. My dad listened, and is very grateful. He's a smart dude.

[Steal]

sent my dad , yesterday a link to apmex opened to the 50 peso page. Was about $1,521. Sent him same page year and half back, when he asked, it was $1,115 then. He mentioned at a gathering last Sunday that he should have acted back then, but though it would be going sub $800. Hes 99% in cash present.

[Glass]

I was at relatives at the weekend. They are very happy. The markets are not going to crash because the government would not allow it. I said stop worshipping you mortal enemy. Then one said, What do we care, I'm retired, I got all my stuff and the other one said, yeah me too. I only have a couple of years to go and I am out of it too. Who cares after that. I looked at the grandson who is 2 and a half. One even said he wants the market to go down so he can buy some more shares cheap like before.

Repeat after me: Equities are good. I am not gambling by speculation. Everything is fine.

[Awoke]

If you hold physical, you can't lose, even if the currency completely collapses.

[chad]

all of them that wouldn't buy at 890 still won't buy at 1,240. it's a lost cause; they don't get it.

[1970 Silver Art]

all of them that wouldn't buy at 890 still won't buy at 1,240. it's a lost cause; they don't get it.


but Chad, there is a very slim chance that they might finally buy gold when it is $2500/oz and every single Joe and Jane Six-Pack is talking about how wonderful gold is as an investment. Of course, they will buy gold at $2500/oz and it will fall back to...............$1500/oz and everybody will say that gold is a horrible investment and gold will go back to being that barbaric metal that nobody will buy except the people who "get it".

[cigarlover]

My family knows I really have a different outlook on things. Now when we talk about it they ask me, what can I do with gold? CNBC still tries to talk gold down so they are on board with them for now. They dont get it and never will.
My latest argument is if cash is so good why are the central banks buying gold with it?
I was with my family last weekend and didnt even bother talking about it much. When I did they still argue that even the last crash was a buying opportunity. Hard to argue with that because they made money with it. Although my brother lost his ass but is now almost back to even. I'll be seeing him again for a couple days this week so what I'm going to try and convince him to do for now is go all cash and get out of the market. If he has a 20 yr timeframe anyway what difference is a couple months going to make over the summer? We are also going into the summer slump here soon so I think the metals will pull back along with the market.

[Gaillo]

I have a multi-millionaire friend, I've known him since grade school. I had a conversation with him almost a year ago, told him... no, I actually BEGGED him to take some of his liquid assets and put it into gold and silver... I suggested a modest investment of 40-50K. He came back with the usual "what if it goes down", "why are metals a good investment", "it doesn't pay dividends", "historically it doesn't keep up with the stock market", etc. I showed him charts, I explained the world economic situation with an emphasis on fiat vs. real money. It was like talking to a deaf person.

Talked to him 2 weeks ago... he didn't want to look me in the eye. Instead of buying metals, he had put several hundred thousand $$$ into real-estate instead, lost a WHOLE bunch of it... finally told me in between BS that the next time I had a suggestion, he'd listen. I told him I had a suggestion RIGHT NOW... and suggested he go buy some metal. He replied to me that it wasn't smart to "buy at the top".

Probably won't be talking money with him any more - I give up. ::)

[oldmansmith]

I told people "BUY BUY BUY" when it was $600, which was not that long ago. Anyone asks now I tell them I'm still buying a little bit at a time, but I don't bring it up anymore.

[1970 Silver Art]

I have a multi-millionaire friend, I've known him since grade school. I had a conversation with him almost a year ago, told him... no, I actually BEGGED him to take some of his liquid assets and put it into gold and silver... I suggested a modest investment of 40-50K. He came back with the usual "what if it goes down", "why are metals a good investment", "it doesn't pay dividends", "historically it doesn't keep up with the stock market", etc. I showed him charts, I explained the world economic situation with an emphasis on fiat vs. real money. It was like talking to a deaf person.

Talked to him 2 weeks ago... he didn't want to look me in the eye. Instead of buying metals, he had put several hundred thousand $$$ into real-estate instead, lost a WHOLE bunch of it... finally told me in between BS that the next time I had a suggestion, he'd listen. I told him I had a suggestion RIGHT NOW... and suggested he go buy some metal. He replied to me that it wasn't smart to "buy at the top".

Probably won't be talking money with him any more - I give up. ::)


Well you tried Gaillo. You probably should have told him that gold and silver have never gone to zero and stocks are capable if going to zero but I doubt that he would have listened. Keeping his multi-millions in $'s is not good either. If he puts it into stocks then he could possibly lose ALL of it. If he keeps it all in $'s and in the bank, then there is a possibility he might lose all of it (except for $250,000) if/when the FDIC comes and shuts down his bank.

What I do not get is that he invested $100's of thousands of dollars in RE and lost a whole bunch of it and yet he's worried about losing the 40-50K if he "invested" that relatively small amount of $'s in gold and silver ? That does not make any sense to me.

Like I said, you tried but it is his choice of what and how he wants to spend and invest his money. He will continue to make excuses on why he will not buy gold and silver.

[InsurgentWolf]

The sleeping ones know that investing in PMs means expecting the economy to go worse. They are afraid of that. So not investing in PMs allows them to keep on sleeping.

[chad]

gaillo's friend embodies a better representation of what i was trying to say. with most people, they don't want to buy because it' always "the top."

i guess it doesn't help that cnbc, bloomberg, etc. always ha 3 stories in rotation asking "is this the top? should you get out of hard assets and in to stocks?"

[agnut]

Hi cpy911; good thread. So frustrating trying to convince loved ones. Most will find excuses why they won’t or can’t. Also, our instant gratification society runs counter to making long term investments.

How many hours have we logged in reading about gold and silver ? Thousands ? So how can we expect others to see what is so obvious to us ?

I have had success only a couple of times but it has been worth all the effort through the years. A dear friend of over 25 years finally listened to me and now has precious metals, cash out of the bank and food and protection preps. I haven’t seen him for over 5 years but we talk on the phone regularly. My continual prodding paid off through time.

My younger son listened to me back in 2000 and bought silver with a small inheritance from his grandmother. He paid $5 per ounce and the silver purchase price is now over $20 per ounce. Not too shabby, eh ? If a 12 year old boy can do it, why can’t an “adult” do it ?

This is life changing stuff and not to be marginalized. Remember that we who study and believe in precious metals are as rare and precious as the metals themselves. Consequently the rewards will be enormous, both financially and in helping others.

Reminds me of the story of the two campers who saw a huge bear approaching. One began putting his sneakers on and the other scoffed and said “You will never be able to outrun the bear”. He replied with “ Yeah, but I don’t have to outrun the bear; I only have to outrun you !”

Having precious metals in possession is like having our sneakers on and being able to escape, even though others are being torn to pieces by the bear. Anyone who has been financially torn to pieces will have little to no opportunity to succeed in the future. There have always been opportunities in the past and there will always be opportunities in the future. This is what I have been writing about in my bartering and horse trading thread. But in order to take advantage of these opportunities, you must be in a financial position to obtain the items. Having precious metals in possession is the key.

By the way, I have all of the bartering and horse trading thread on my hard drive and have been remiss in getting it posted on Gold-Silver.US website. MadFranks has been communicating with me and helping figure how to do it. I really miss writing about the deals I have been getting and about what we should be expecting in the future. Also, the posts that so many of you contributed through the three years it was on GIM are there intact. It is easily enough to write a fat book.

Anyone notice that bartering has been mentioned several times lately in web articles ? I firmly believe that it will be crucial to our success in the future we face. I was ahead of my time in beginning the thread in Jan 2007. It was a good call and well received by members. But I must emphasize that Ponce is and has been far ahead of many, many things and I hope you will listen and ACT on what he recommends as long as you agree. To be oblivious is one thing but nothing is more sad to know of approaching danger and to have done nothing about it.

Best wishes,

Agnut

[DMac]

I told people "BUY BUY BUY" when it was $600, which was not that long ago. Anyone asks now I tell them I'm still buying a little bit at a time, but I don't bring it up anymore.



Same boat here oldmansmith. Been harassing family and friends to buy since <600. My dad started to listen at 600 and he's done quite well following that recommendation, though he won't continue to add to his stack, much to my chagrin.

Similar to Gaillo I have a cousin who is loaded with cash. I've been bugging him since 600 to get into gold. The excuses to this day have still not stopped. The worst part is, is that he says he knew I was right then, just as he knows I'm right now. Still, he has no gold.

Sometimes I wonder why I bother...

[Contagieux]

If you are interested, I have now researched multiple ways to buy gold coins for home storage, bullion for overseas storage (Zurich), and IRA Transfer for Domestic storage for increasing gold in ye old portfolio. I have found the best places and prices for this and its working. I only wish I had more of the shiny yellow metal that can not be easily printed!

Well this is all food for thought...


Let's eat! Please elaborate.

[sunshine05]

Great thread. I remember once on the old GIM board, someone posted a link to a site with a bunch of videos that was great for trying to wake people up. I can't find the link now....does anyone happen to remember that and possibly bookmarked it?

[madfranks]

And then there are those of us who don't have any real money, live paycheck to paycheck, who have watched gold jump from $600 up to current levels, but have not been able to buy and save more than a few ounces. :'(

I was in college when gold was at $600 levels; since graduating in '08 and trying to get a career started in this economy, I've watched gold make huge gains every year and haven't been able to enjoy it.

[Horn]

He replied to me that it wasn't smart to "buy at the top".


Guess he's waiting for the next stimulus? ::)

[Horn]

And then there are those of us who don't have any real money, live paycheck to paycheck, who have watched gold jump from $600 up to current levels, but have not been able to buy and save more than a few ounces. :'(


With ya, is why I switched to Silver a year or so ago. :morph:

[jaybone]

The only approach that has ever worked for me is to offer gold as an alternative to cash.
Most people do not perceive cash as a position, they think of it as value frozen in time, which it certainly is NOT.

Gold is not really an investment, it IS cash, as well as a crisis hedge.

Comparing a lump of gold to a share of goldman stock is comparing apples to rotten oranges.

Comparing gold to digits on an insolvent bank's computer is more accurate.

[JDRock]

ive been harping on people since gold was 375 oz!...when it hit 500?? the naysayers said " it will crash"... when it hit 750, " it cant sustain this increase"...when it hit 1,000 " its only temporary, sell it fast"... now at 1,200++ do you think they are listening yet??

No.

[gunDriller]

one way to wake up family members is to give silver rounds to their kids.

i showed one of my brother's kids a Mexican round i bought when silver was $15. they basically went crazy, they liked it a lot. so i gave them each a round at Christmas, when silver was about $18.

since the Onza has a picture of a topless woman, i gave that to my nephew. one niece got a Maple, the other got an Eagle.

i will know that it's working if they start bugging their parents to transfer some of their savings into PM's.

[k-os]

Yep, the adults are mostly a lost cause. I give ounces of silver and very small gold coins to my nieces, nephew and my friends' children. They all love it, and it gets them started.