Asset and Wealth Protection
You recommend gold and silver but they have crashed. I have lost thousands of dollars.
A: I admit I did not anticipate the crash. Actually, it was not a crash but a slam by the big commercial banks, led by JPMorgan. This slam damaged the precious metals market. Not permanently, but for maybe about two months. This is an act of desperation by the government in cahoots with the big banks. But remember, the U.S. and the world are awash in fiat dollars. Printing money is nothing but the constant devaluation and depreciation of those paper dollars. We have this last opportunity to cash in on these suppressed prices of gold and silver. And you have not lost anything unless you sell your metals at depressed prices. JPMorgan has gone from record shorts to record longs. This means they expect this temporary suppression to give way to the most explosive advances imaginable.
Human beings have a nasty habit of ignoring the cold, hard facts of the present in the hopes of using apathy as a magical elixir for future prosperity. The American people allowed themselves to be caught off guard in 2008, just as they are setting themselves up to be caught off guard again today.
Thinking of cashing annuity for deposit in Canada credit union or bank or buying gold coins. Your thoughts and are there an problems moving money to Canada?
In any dealings with the Internal Revenue Service, and contrary to American jurisprudence, you are first considered guilty unless you can prove your innocence. There is little that sends more chills down the spines of American “taxpayers” than a letter or call from an IRS functionary.
My husband and I are both 76 and have very bad hearts. I feel that after January we won’t be able to have our heart medicine refilled. We are thinking about moving to Panama to have a chance to live. What do you think? Also, can you tell me how to get gold out of the United States?
(I began publishing my monthly newsletter The Bob Livingston Letter™ in 1969. The following is an excerpt from the June 2002 issue in which I advised readers to buy gold and gold stocks and get in on the bull market in gold. Over the next 10 years, gold gained an incredible 500 percent before its price was manipulated down over recent months. The gold stocks I recommended brought incredible returns.)
Gold is in phase one of a new bull market. Few people know it. The public won’t know it until phase three, after the dollar price of gold and gold stocks have skyrocketed.
If you have big losses in the big market now, switch to the gold market. Any broker or discount broker like TD Waterhouse can buy and sell gold stocks. You may have a chance to recoup your losses and accumulate generous profits by phase three of the gold bull which will be two to three years out.
The IRS/Tea Party Scandal doesn’t hold a candle to the size and scope of IRS abuses… So, it sheds no light on anything. Let’s boil this scandal down to simple words; words like “Tea Party” and “Patriot” and “Constitutional”; words that when used in paperwork to become tax exempt organizations, keep the people filing from being treated fairly.
When I lived and worked in Spain under the regime of Generalissimo Francisco Franco, cash was king. When I later moved back to North America, I continued to use cash whenever possible. You will not find me downtown with less than $500 on my person; and if I’m on a flight overseas, I’ll have much more. There are advantages to paying cash.
You refer to gold and silver coins in your letter (The Bob Livingston Letter, subscription required). What about those of us that have invested in 100 oz. silver bars? How do I fare when the boom is lowered?
(I began publishing my monthly newsletter The Bob Livingston Letter™ in 1969. The following is an excerpt from the May 2001 issue in which I advised readers to get out of the crashing Nasdaq market and put money in gold. The Nasdaq suffered three crashes over the next nine years, while gold has gained an incredible 434 percent. The Nasdaq is up only 52 percent from its May 2001 mark and is still down more than 34 percent from the dot-com bubble high.)
Gold and gold stocks are beginning to move up again. Gold has had so many false starts that nobody has any confidence in a gold bull market starting again. Gold has had a 21-year bear market after a 1980 blow off.