Archive | June, 2012

America is a Poor Retiree

5 Jun

If you’ve ever gone to the mall lately — no, if you drive a car outside at all, you’ve probably seen multiple signs put out by the people who are buying gold. A few months ago I approached a lady at one of these kiosks in the mall. At the time, silver was about 38 dollars an ounce, and I asked her how much I could get for 1 ounce of .999 silver. She quoted me a price of about $13-14.

What’s shocking is not that they offer such a low price, but that people are actually taking them up on it. So many people are in such dire straits that they must liquidate their precious metals without even checking to see the price. They take an extremely low price just to get some cash to pay for their other bills and their debts.

That’s such a great metaphor for America. And it’s no wonder that our countries primary banks are liquidating massive amounts of precious metals at cut-rates. Think about that next time you place your hope in your country to bring you a glorious future. Be wise.