Banks have been caught over and over stealing money from clients. This is an absolute fact.
Most recently, CBC’s Go Public has brought forth the truth that those working for the bank, specifically work in the interest of the bank. The financial planners have been acting against the interest of the clients, in order to sell what they are told.
“'Sell to them or you will lose your job': Call centre employees for big banks reveal upsell pressures”
http://www.cbc.ca/news/business/banks-sales-tactics-call-centres-go-public-1.4030981
Face the Music
We need to manage our own money and for 90% of individuals, paper assets are the only options. “Fully diversified” they say. I would reply “Not even close”.
In the industry you may see a portfolio like this:
But the truth is that this is 100% paper. So what should we invest in? Buy property? Oil?
True diversification is required. Depending on the current conditions will decide what to accumulate at that given time. Today we will discuss precious metals.
(Stay tuned for future articles for other assets to hold)
Precious Metals
Gold and silver give us security. They give us piece of mind. Every portfolio should have precious metals in it. There are no exceptions.
The trouble is that many people who buy precious metals do not diversify outside of gold and silver. Expand your vision!
Pros of Physical Precious Metals
Gold and Silver have been money for thousands of years
Precious metals will always have SOME value
Precious metals are globally universal and recognized
No need for electricity or financial markets to exchange it
Gold and silver have performed well historically in times of inflation
Precious Metals Stocks
Physical and paper metals are completely different. Understand that paper metals trade on exchanges are subject to volatility, and can be turned off by governments, hackers, or widespread outages.
Physical precious metals are under your protection. They can be passed down from generation to generation. They will never lose their true value.
The price may fluctuate on the exchanges but that’s not gold or silver. That’s the U.S. dollar.
The currency destined to collapse.
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