Gold advice? Stockbroker sent me this email

great advice

Wheat, orange juice or the like... then try to eat them or the paper that says you actually own those items... tasty

or you could actually go out and buy a bag of wheat or a bottle of orange juice.

If you want to invest with the possibility of losing or gaining, I guess you can go ahead. I buy coins and hold on to them... if things go bad and I need wheat or orange juice and the almighty dollar has gone down its inevitable path, I am still in business.

“Liberty means responsibility. That is why most men dread it.” - George Bernard Shaw

wants are unlimited, means are scarce...

im a stockbroker myself with raymond james investing in gold since 2002, for one gld is garbage your better off with cef central fund of canada they are honest gld is nothing but a shill for for the wallstreet con artist firms who are the ones shorting the comex. i rather own goldcorp, kinross, hecla, eldorado and yamana. what i do is everytime my clients get a big run like the month of september we had 30 percent profits in gold stocks i sold out the profit and told them to go down to their local coin dealer and buy the real thing instead of empty paper promises of wallstreet. they have sold so many paper tickets on gold that doesnt exist in the end people are not gonna have anything return to them except worthless paper dollars. what your broker is doing is assuming the relationship will remain the same and i have learned after 25 years on wallstreet the relationships of markets never stay the same thats why people get burnt. the fed is going to inflate away its debt so stay patient as the dollar will lose at least 50 percent of its value in the next few years. in the end the dow and the price of gold will meet im sure of that. good luck.

Your broker wants you to make multiple short term trades. This is a lot different than buying and holding gold or its equivalent in a brokerage account. Buy physical gold, central gold trust (GTU), or central fund (CEF)- gold&silver. These funds have better audit procedures and have been around a lot longer than the bank sponsored etfs.

If you like trading, try gold stocks. These things really move. Some have doubled or tripled this year.

There are many ways to make or lose money in the gold market. I think your brokers plan is a bit convoluted. It is best to keep things simple.

Gold outperformed the S&P 500 by a wide margin over the last 10 years

The GLD ETF may be a fraud. They may not have as much physical gold as they claim. They lend out their gold for short selling, and you may be stuck.

Gold is a better investment than the stock market. The only way to be safe is to buy and take physical delivery.

Your broker is advising against gold, because he earns a commission based on what you buy and sell. If you buy-and-hold gold, then your broker gets no commission.

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I have my own blog. Let me know if you like it.

You could buy UGL which is 2x leveraged gold, and which will go to the moon if the dollar drops. It does not claim to be physical gold that is held. Yes, the dollar will be worth less, but you will have twice as many to easily pay off everything you owe (mortgage, credit cards, etc.) and still have some left to buy a bottle of milk.

nice point!

Ask this short-sighted and blinkered fool, what happens when the dollar AND the euro AND the pound all go down, together? As they are bound to do, and in fact are doing now. He talks as if the net effect of shorting those other currencies is net value neutral, when in fact ALL fiat currencies are in a long-term downward trajectory --- the daily ups and downs of their relative exchange rates is meaningless in the longer term. Yes, any currency may go up RELATIVE to another, but ALL (fiat) currencies are losing value over time. His advice is little different than telling you to stuff dollar bills in your mattress as a form of "savings". Oh, and he clearly doesn't understand the benefits of holding PHYSICAL gold in the slightest. The man is a brainwashed, follow-the-herd sheep, and following his advice will only result in you joining the herd as they plunge over the cliff of dollar devaluation and collapse.

I only buy physical gold coins and silver bars

lmao... gld is NOT the same thing as GOLD.. if you can't touch it you don't own it.. he is pulling this crap because when you go buy a physical coin he does not get his commision... tell this idiot to shove off.. buy physical.. take delivery..

A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3