I had dinner with a friend of mine yesterday asking me what to do with some money she had just inherited. As you know my response was that only physical gold and silver will protect the purchasing power of your savings in a time of money printing and negative real interest rates. In one sense we’ve been down this road before, in another sense this is the first time in human history where we have an integrated global debt based monetary system collapsing all over the world at the same time. I brought a 1 oz Krugerrand to our dinner making sure she held it her hand. Might seem like an odd thing to do, but since so few people have actually seen and felt a gold coin, just the weight of it alone makes you understand it is valuable. Holding gold changes your perception of fiat paper money.
Since my friend is a very smart woman she quickly came to grips with the why-aspect. The how-aspect however, where to keep your physical gold is quite a different matter. That is really a question everyone needs to answer for them selves since it is all a matter of how you look at risk. Owning gold certainly make you sleep better at night, storing it is quite another matter. Not having to worry about your savings losing value is good for sleep, worrying about someone steeling it, weather it is a burglar, a government through confiscation or a bank not letting you access your safe deposit box, is bad for sleep. It all comes down to what makes you feel safe.
She also asked me to e-mail her a few links to websites I can recommend for people not looking for articles and interviews of the too complex kind. Here are my top 5 resources I follow daily or weekly:
- The #1 website to follow in my opinion is Jim Sinclair’s JSMineSet.com. Sinclair isn’t called “Mr. Gold” for nothing timing the gold bull run ending in January 1980 perfectly. His website is updated daily and is also the host of “Trader Dan” Norcini’s gold report looking at technical analysis of the gold price in multiple currencies, mostly of course in USD. Sinclair just puts it out there with no sugar coating.
- Max Keiser, a former stand-up comedian and Wall Street broker publishes great articles but what really stands out are his two shows “The Keiser Report” and “On the Edge”. Both shows are posted on YouTube and on his blog. He is also the father of the “Crash JP Morgan Buy Silver” campaign totally gone viral the last few weeks. The price of silver has gone up 8% since the campaign started. Max Keiser is informative and explains complicated financial systems simply in an entertaining way.
- Eric King at King World News publishes a blog but what makes his website invaluable are his audio interviews he publishes for free every week-end in the Broadcast section. Eric King interviews the very top insiders with a view on the bond, currency, stocks, gold and silver markets. Truly one of the best media outlets on the internet.
- Gold Anti-Trust Action Committee, or GATA, not only keeps track on news concerning the suppression of the gold and silver price by the big banks but also post good links to other blogs and news outlets each day in their “Daily dispatches” section.
- Another great internet radio show is Goldseek Radio with really good interviews. Listen to the show for free at http://radio.goldseek.com/
There are many more websites I follow, one of the best is Zero Hedge, but when they publish something out of the ordinary their articles usually end up being link to from the websites listed above.
