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Getting my Dad into gold and Silver



 
 
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  #1  
Old February 2nd 13, 05:34 AM posted to rec.collecting.coins
Jason Leeds
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Default Getting my Dad into gold and Silver

My father lost a lot of money in the stock market in 2008, I told him in the
summer of 2008 to get his money out because I think the market might crash.
He laughed at me and told me "why don't you leave those things to people who
know what they're talking about." Recently I talked to him about Gold and
Silver he asked, "Well is it a risk?" I stupidly replied, "Well, I guess
anything is a risk but..." He immediately became turned off and I learned
he invested into "less risky" things like bonds. Oh, great.

He is a great man who has served this country and loves his Lord. I am his
25 year old son, but I don't think I have earned his respect. How can I get
him into Gold and Silver? I hate to think he has put his financial future
in control of the Jew-run FED.


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  #2  
Old February 2nd 13, 02:03 PM posted to rec.collecting.coins
oly
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Posts: 3,111
Default Getting my Dad into gold and Silver

On Friday, February 1, 2013 10:34:01 PM UTC-6, Jason Leeds wrote:
My father lost a lot of money in the stock market in 2008, I told him in the summer of 2008 to get his money out because I think the market might crash. He laughed at me and told me "why don't you leave those things to people who know what they're talking about." Recently I talked to him about Gold and Silver he asked, "Well is it a risk?" I stupidly replied, "Well, I guess anything is a risk but..." He immediately became turned off and I learned he invested into "less risky" things like bonds. Oh, great. He is a great man who has served this country and loves his Lord. I am his 25 year old son, but I don't think I have earned his respect. How can I get him into Gold and Silver? I hate to think he has put his financial future in control of the Jew-run FED.


I'll ignore the last little bit of anti-semitic sniping because I like the topic.

Bonds are incredibly risky at the present time, but many bondholders can't fathom the nature of the risk(s). There is (1) credit risk, or the potential risk that you won't get the principal repaid to you (and this risk is supposedly zero if you own a U.S. Treasury issued-bond), and (2) market risk, or the risk that large changes in market interest rates will reduce the value of your bond. That is, if you have a bond with a stated interest rate of 2% and market interest rates advance to 3%, you will have to take a reduction on the value of your bond in order to sell it. The loss of value can be severe. Conversely, if you have a 2% bond and market interest rates fall to 1%, you have a big potential gain. Many well-heeled older people understand risk #1 without understanding risk #2.

Bondholders may reply with the old saw "I'm not worried about the return ON my principal, I'm worried about the return OF my principal". Or, they may reply with "If the market value of my bond declines, I don't care, I'm going to hold it to maturity anyway". Nevertheless, most bondholders do want some income, and if they see their older bond returning considerably less than newer bonds, happily, that is the kind of thing that preys on their minds (and pocketbooks).

Market price depreciation risk is very real despite many people's best efforts to ignore it. It is hardly news that many people often find themselves being forced to sell bonds at the worst possible time because of the need for cash, advancing age, ill health, family problems, etc.

I also say that we are at a dangerous moment because the value of the 10 year U.S. Treasury hit a high back in July 2012 and it has already slipped at lot since then (this is written 2/02/2013). An international currency war is rapidly developing (oddly, led by the Japanese, it seems), and much higher interest rates are very likely, and this rise even if the increasing interest rates cause a hard hit to both the bond market and the domestic economy.

HOWEVER, both gold and silver are also riskier than they were back in 2007-2008. As good old Peter "7% front-end load" Schiff pointed out yesterday, the last time that the Dow Jones Industrial Average hit 14,000 (back in 2007), Gold was $700 or so. Now that the DJIA is flirting with its old highs, Gold is over $1650. This means that Gold has kicked the **** out of the DJIA over the last six years, but also simply put, Gold at $1650 simply has much more price risk than Gold at $700. The example of silver over the same time frame is even more extreme.

I am a big believer in the precious metals, but it is absurd not to be aware that there is the risk of bigger dollar price swings at these current lofty levels than at much lower levels. Informed investors also have to keep the "price" of PMs and the "purchasing power" of PMs firmly in mind and keep these two issues separate in their minds.

My experience is that stupid old people deserve to be parted from their money. Too many people are a bunch of Pollyannas hoping that bad things can't ever happen in their futures and who won't look Risk squarely in the Face. But aren't you, bad Son, mostly just interested in parting your Dad from his money too??? Hey boy, it's called stealing, or at least called unnatural greed/ covetness.

If you are only 25, Dad will probably be around a long-time and Dad might even be better placed to earn more money in the future than you are!!! No wonder he doesn't respect you, you sponger!!! You yourself need to work hard or to speculate hard; don't just sit around waiting for Dad to crap out, you lazy anti-semetic *******.

oly

  #3  
Old February 2nd 13, 03:04 PM posted to rec.collecting.coins
Bremick
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Posts: 641
Default Getting my Dad into gold and Silver

"Jason Leeds" wrote in message ...

My father lost a lot of money in the stock market in 2008, I told him in the
summer of 2008 to get his money out because I think the market might crash.
He laughed at me and told me "why don't you leave those things to people who
know what they're talking about." Recently I talked to him about Gold and
Silver he asked, "Well is it a risk?" I stupidly replied, "Well, I guess
anything is a risk but..." He immediately became turned off and I learned
he invested into "less risky" things like bonds. Oh, great.

He is a great man who has served this country and loves his Lord. I am his
25 year old son, but I don't think I have earned his respect. How can I get
him into Gold and Silver?
-------------

People only lost money in the stock market in 2008 if they sold their
holdings at a loss. Early 2009 was a pretty good time to stay in and take
advantage of a number of low-priced blue chip stocks which since have
performed a lot better than gold or silver. Ford, for example, could have
been bought for about $2 a share. At today's price of $13 a share, 1,000
shares purchased would have outperformed silver, which today is "only" about
double its early 2009 value-- not a bad profit at all, but not the only wise
investment option.

And if you really hope to earn your father's respect (and his estate?),
maybe you shouldn't be airing your unsolicited prejudiced views in a public
forum.

  #4  
Old February 2nd 13, 03:43 PM posted to rec.collecting.coins
oly
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Posts: 3,111
Default Getting my Dad into gold and Silver

On Saturday, February 2, 2013 8:04:58 AM UTC-6, bremick wrote:
"Jason Leeds" wrote in message ... My father lost a lot of money in the stock market in 2008, I told him in the summer of 2008 to get his money out because I think the market might crash. He laughed at me and told me "why don't you leave those things to people who know what they're talking about." Recently I talked to him about Gold and Silver he asked, "Well is it a risk?" I stupidly replied, "Well, I guess anything is a risk but..." He immediately became turned off and I learned he invested into "less risky" things like bonds. Oh, great. He is a great man who has served this country and loves his Lord. I am his 25 year old son, but I don't think I have earned his respect. How can I get him into Gold and Silver? ------------- People only lost money in the stock market in 2008 if they sold their holdings at a loss. Early 2009 was a pretty good time to stay in and take advantage of a number of low-priced blue chip stocks which since have performed a lot better than gold or silver. Ford, for example, could have been bought for about $2 a share. At today's price of $13 a share, 1,000 shares purchased would have outperformed silver, which today is "only" about double its early 2009 value-- not a bad profit at all, but not the only wise investment option. And if you really hope to earn your father's respect (and his estate?), maybe you shouldn't be airing your unsolicited prejudiced views in a public forum.


A really large fortune should be spent/enjoyed/dissapated by the person who earned it in the first place.

Just makes sense in our socialistic western world.

Doing anything else causes children or other relatives to be too clingy and hurts their own initiative to make a mark in this world.

It is enough to transfer intergenerational or multigenerational assets - in my mind, largely real estate (family homes and farmland) - on to the next generation.

And by gawd, treat the kids equally.

oly
  #5  
Old February 2nd 13, 04:33 PM posted to rec.collecting.coins
Batson D. Belfry
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Posts: 46
Default Getting my Dad into gold and Silver



"Jason Leeds" wrote in message ...

I hate to think he has put his financial future in control of the Jew-run FED.


You are an asshole.


 




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