Saturday, August 8, 2009
I have to give credit to my friend Steven for opening up my eyes to the idea investing in precious metals. The book this week was Guide to Investing in Gold and Silver by Michael Maloney. This book was brilliantly written and all the historical concepts really backup the main point of the book perfectly.
I look around and I see the signs.... CashforGold.com... or send us your gold... or some people just buying up gold out of the laundromat. There is writing all over the walls, and it's up to you to read it. There are a lot of people out there that are catching on to the fact that something is going to happen with the price of gold and silver soon and if you are smart you will get on board to make some money for yourself too.
The book is all about why it's a great idea to invest in gold and silver and how to do it effectively. The book is broken up into 4 portions: Yesterday, Today, Tomorrow, and How to Invest in Precious Metals. The first half of the book walks the reader through the history of gold and silver being used as currency and the value in relation to fiat money. The point that is very eloquently laid out is that gold and silver always win. Historically, it can be traced back to Athen's... nearly the same concepts were put into practice regarding currency as they are today.
The great thing about the timing of this book is that we are in the midst of the next great rise in precious metals. The U.S. government just injected trillions of dollars into the economy... this causes inflation, which Maloney refers to as a "stealth tax, " and devalues all the dollars are already in circulation. What is great about gold and silver is they aren't effected by inflation. The trend of gold is steady and that is why it has been used as a shield to inflation for so many years.
Maloney expects gold and silver prices to skyrocket soon. There are several different fuses explained in the book that will ignite the value of gold and silver. Honestly, I don't think there is any downside to owning at least a little gold and silver... Trending shows that the prices are steadily rising, so the worst that could happen is you shield yourself from the excessive inflation we are going to incur and the best that could happen is hyperinflation and the ability to cash in your commodity for big bucks. I am not trying to make light of a serious situation, I am just trying to advise you to guard yourself. The wealth transfer during a hyperinflation will be incredible, so it would be wise for you to be prepared.
The book explains that it is best to invest in .999 pure 1 oz silver or gold. You can get an America Silver Eagle 1 ounce .999 pure silver for about $17.00 right now. Maloney says that he would not be surprised if silver shot up to over $100 an ounce and maybe even $1000 an ounce.
Maloney's website is www.GoldSilver.com I really do hope you become interested gold and silver investing because of all the investment advise I have written about this one doesn't appear to have a clear downside. I recommend you read this book or at a bare minimum check out his website. If you have any questions on the book don't hesitate to ask. I would be more than happy to help anyone that needs it.
Amazon Link to Buy Guide to Investing in Gold and Silver
Posted by Trevor Flannigan at 8:59 PM