If my memory serves me right, his name was Don and he was tall, slender, and by all appearances a man’s man. Years had caught up with him by the time our paths crossed but make no mistake this was a guy worthy of attention. Years later, I still recall our conversation and his true life tale of bravery in an age I can only imagine. The era, WWII. Don described his life as a war pilot both proud and thankful for others who paid a far bigger price than he did. I met Don when a friend of mine introduced us liking him the first moment we met. His arms flung with each new story and, to me at least, it appeared Don was comfortable describing a time better than most history books. But lately, something Don said many years ago keeps running through my head all while reminding me how significant my stash of silver & gold. Don described an aviation term called “point of no return” each time putting more meaning to it than the last. Don’s aviation description reminds me of today’s economic times know more than ever.
Point Of No Return:
The “point of no return” is the point beyond which one must continue on his or her current course of action because turning back is physically impossible, prohibitively expensive or dangerous. It is also used when the distance or effort required to get back would be greater than the remainder of the journey or task as yet undertaken.
There is an art to starting conversation; I put it to work over the last couple of days while resting patiently for a United plane engine repair. I wasn’t the only one, in fact, a hundred or more sat, stood, or paced while plane engine mechanics did what they do in order for something weighing tons to fly through the air like a bird. At one point, I found myself sitting with a group of other strangers deciding to take advantage of our idle time. I asked the one question that will start a conversation quicker than anything else I know. My question, “So, is the economy getting better where you’re from?” Yep, that was all it took. I guess it’s safe to say our conversation at the Reno Airport officially entered the point of no return.
One sophisticated gentleman tried to talk first, maybe a professor but not sure, but another guy talked right over the top. This second guy, the one who one the right to talk by talking over the first, was angry before rolling out of bed and quickly informed all who’d listen how the answer to improving our economy is drilling more domestic oil. The professor looking gentleman patiently waited for a breath I thought would never come, then rebutted with a polite contradiction by voicing his opinion of solar/wind power as the key to improving today’s economy. Needless to say, the race was on without my need for another word. A third gentleman said nothing, only staring straight ahead, possibly wishing he had sat somewhere, anywhere, else. I just listened.
The angry dude, a guy sometimes showing signs of kindness-but only slightly, lived in the Reno area and described a place of 15% unemployment, he told of a personal business loss, machinist, which employed not only him but his son too. At least in his world, today’s economy is nothing close to improving. He grew angrier as he described his interpretation to why our economy hasn’t improved finally spilling blame to our current administration. The professor guy attempted to defend, but was quickly shouted down as being, “part of the problem“. The professor guy politely dismissed himself and walked away. I felt bad for starting the conversation in the first place.
I could tell the angry guy felt remorse for shouting down the professor dude just as this same angry guy asked me my opinion. I told him I was sorry for his job loss, his son’s too, and understand his anger and contempt. I also explained the professor gentleman had nothing to do with his pain, or future. I also explained the adverse effects he’d described caused from a destructive wave of economic correction set in motion many years ago. Today’s adversities derive from years of monetary miscues, debasement, and devaluation on a worldwide level. An easy fix, like drilling domestically, could improve a tiny economic aspect but not improve overall economic conditions. The angry man is looking for “normal” during an age of correction; I hope he moves on by leaving blame and anger behind.
I own physical silver and gold, many of you do too. Precious metals are preventive economic medicine for today’s ailments. Some of you know the point of no return has passed leaving only a corrected future economy to plan for. I see no benefit of pessimism or anger, in fact, I’m optimistic for those of us wise enough to develop and plan for this corrective age. Opportunity never goes away; it just rearranges itself now and again. But, unfortunately, most are banking on recovery because this is what those running for office (or selling bubbled assets) promote. Below is a perfect example of statements from those in monetary control unwilling to admit failed monetary policies, or the need for self protection, by our own Treasury Secretary Mr. Geithner.
REALCLEARPOLITICS March 22, 2012: “If this were the last debt ceiling increase you could ask for, the final one, and you had to make it large enough for all current and future obligations, what would the request need to be?” Congressman Trey Gowdy (R-SC) asked Treasury Secretary Tim Geithner at a Capitol Hill hearing on Wednesday.
“I don’t know how to answer that question,” Geithner said to Gowdy. . . .
“It would be a lot,” Geithner finally said. “It would make you uncomfortable,” he added.
Geithner tried to deflect the debt ceiling question by focusing on the spending question itself and nailed Congress simultaneously by pointing out,
It makes no sense for the country, since Congress controls how much we can borrow every year—we have no independent authority to spend beyond what Congress authorizes—for Congress to put itself and its members through the position every six months or every year to hold a separate vote—politically difficult vote—on whether they should authorize us to do things they’ve already authorized us to do.
Gowdy noted that Geithner had previously used the word “unsustainable” to describe the debt problem. But Geithner put the ball squarely back in Congress’ court:
The debt limit doesn’t decide how much we can borrow; you decide how much we can borrow. more
PROSPECTOR: Does this sound like someone confident in recovery? The conflict within America stems from leadership’s inability to accurately define to the American people the need to prepare for the point of no return. We often mention it here, no one, certainly not Mr. Geithner, is willing to scratch a monetary line in the sand committing to how much “investing” needed to correct the economy. As you well know, trillions of printed dollars will not bring back normal, nor will it provide a long-lasting recovery built from solid free market innovation and principles. This is why predominantly good people conflicted to the point of arguing at the Reno Airport. This is why gold and silver so necessary to hedge against monetary miscues of the day. I urge you to own value based money by saving in gold & silver.
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COMMENTS & QUESTIONS:
I am looking to add some coins to my inventory, I am looking for common date $20 liberty and st gaudens. Please email me price on with dates and let me know if you accept credit card
PROSPECTOR: Great choice with the $20 Liberties/Saints since many of these coins are in the same price range as new bullion. Unfortunately, this site doesn’t sell or store precious metals of any kind. The reason, I want readers 100% comfortable with our view of PM (precious metals) without concern of bias or sales pitch. I urge readers to formulate their own opinion allowing each person individually to take control of future PM investments. Since you mentioned “adding some to my inventory” it sounds like you already realize necessity of gold and silver, good for you. My advice is to check out www.GoldShark.com for price comparisons before adding more gold to your stash. Regardless, thanks for reading and good luck with the $20 gold coins.
Okay, I’m sold but we have no wish to store gold where we live or even care to handle such an asset. Each day I hear of more reckless spending and this validates my choice to hedge with physical gold. I am old enough to vividly recall stories from the last depression and beginning to see an eerie pattern even today. You mentioned something about storing gold internationally and this sounds like the best choice for us. Can you offer a name of someone you trust as a safe option for storage? Thank you for the good work.
PROSPECTOR: Thank you for reading and congrats on making the gold plunge. I agree, I too see “an eerie pattern today” and this is why my family owns gold and silver. Let me first say this. I encourage you to consider holding at least 1/3 of your gold investment close at hand. This economic correction is worldwide and who knows what the future offers, having real money within arms reach could be crucial. This doesn’t necessarily require you to personally store the 1/3 recommendation so email me for more specific options. Regardless, for international storage, you have several options and the one I like best is GoldMoney.com. These guys have been around forever and hold several billion (USD) of physical yet private gold/silver.
Here is how GoldMoney works. You establish an account with GoldMoney, this allows each customer to buy real physical metal all while paying low premiums over spot. Newly purchased metal stores at one of four secure locations (international vaults) of your choice all while offering 100% metal ownership without the hassles of storage. All metal is fully insured and routinely audited each quarter offering customers peace of mind AND gold ownership. Again, all metal is 100% backed by real gold from a highly regarded company. My understanding is GoldMoney charges zero commission to “buy-back” gold/silver originally sold. Check with GoldMoney regarding storage fees and other concerns. Good luck and congrats.
IF YOU TOO HAVE GOLD OR SILVER RELATED QUESTIONS, OR JUST WANT TO MAKE A COMMENT, CONTACT ME RIGHT HERE TO DO SO.
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