FranklyPut Financial

What is all the hype about gold?

As you know, gold has a very long history because of its value. In the past the dollar was backed by gold and the dollar was on the gold standard, but in 1970 it was taken completely off the the gold standard and in today’s perspective, it serves a few purposes.

1. Fear gauge. Whenever gold prices go up, it is an indication of consumer fear and it is purchased as a hedge against a highly volatile economy.  If you Google gold and hedge, you will discover many opinions and you need to form your own opinion as you learn more about it.
2. Barter. Gold has been and will continue to be traded. I consider gold to be a commodity in the future. Something that we trade for goods and service. The same goes for silver and copper. There are some states (Utah) that are legalizing gold so that it can be used as currency. Why? State governments are losing faith in the federal government and the dollar. So how do you barter with gold? If you have possession of gold and you could not use the traditional greenback, you could mint the gold and trade with it. There is a term called free coinage. In the past you could take your precious metal (bullion) to the mint and they would melt your metal down and produce coins for you.
3. Investment. Some might consider gold a safe haven in tough times. Gold is an investment and there are several way to invest in gold. You can purchase gold on paper. That means buying gold like you would stock. When you purchase stock, ownership is based on a certificate, traditionally. Or whenever you purchase gold, you can take possession of it. And when you do, you need to store it. There are companies who will sell it to you and store it for you. There are several types of gold to purchase, for instance, you may might buy jewelery, coins, rare coins or bullion. Which one do you think might be the most efficient one to buy? You guessed it. It depends. It depends on if you are in the business of buying coins or jewelery. But if you are not, then bullion is your best choice. And the reason is because when you buy rare coins or jewelery, you pay a premium for the purchase and you may not make a profit. But bullion is the same as buying gold wholesale sort-of-speak. and it is possible to hold it in your IRA retirement account.

Our staff is dedicated to educating and assisting everyone to get prepared for an extreme economic down-turn that will make 1893 & 1930s depressions and recent market and housing bubbles pale in comparison.

There are several things that you can do to prepare yourself:

1. Get as much information and education as possible
2. Position yourself  so that you can establish a financial safety-net by getting out of debt and creating multiple streams of income
3. Network with like-mined people who are doing the same thing because there is strength in numbers
4. Spread the word

So, what is all the hub bub about?

If you haven’t noticed, our economy is in a bit of turmoil. Government spending is out of control and it has been for several decades. The Federal Reserve (Fed) is printing money to help prop up the economy and it is also maintaining low interest rates.  The question is: How long can the Fed continue to do this? I do not think that there is an answer to this question since we have never been in a situation of this magnitude before. I believe that if we are prepared, we will survive the storm. I also believe that we have time to get prepared, but we do not have time to waste.

What am I really trying to say? When the United States government becomes insolvent,  our dollar no longer has world reserve currency status and inflation is so out of control that our dollar will be worthless, how do we clothe, feed, and shelter ourselves?

We need to either :

1. Have land to grow food
2. Store enough food to last several months
3. Have a supply of precious metals in the form of bullion to barter with
4. Have a barter-able skill, trade or business

There are several solutions that can not be elaborated on, but in addition, you could store energy, water, or be at a place where you can drill a well. You might be able to have wind or solar power, etc. Just think what it might have been like to live out west in the 1800s.

You may ask yourself, “Why don’t I hear this on the evening news?”  First you need to understand that the evening news is in the business of selling commercials. They are going to report whatever news sells their advertisers products. Second, in some cases, they are political. They will editorialize the news – all networks do! But there are some that, on occasion, have the viewers best interest in mind.

Why should you listen to me and believe what I am saying?

Do not just listen to me, but listen and read it for yourselves. I have been involved in finances for about nine years, learning how my money can work for me. In the process, I have learned the in and outs of the financial industry and economics and am now attempting to spread the information to anyone who will listen.

Here is a short list of sites that I recommend:

The Real Debt

• Gary A. Scott
• 2015 debt
• More

Glen Beck

Federal Reserve and the short version of G. Edward Griffith’s book Creature from Jekyll Island (youtube video). Why do I say short version? Because it took me almost three months to read the book and Glenn provides a short and succinct expose’. Griffith’s book addressed economic history in general, but focuses on the Federal Reserve. After reading his book I came to the conclusion that the Fed, U.S. Treasury, and the banking system are not in line with the concerns of some of our early leaders. Why? Because we are using fiat money and fractional reserve banking. Thomas Jefferson spoke out against using fiat money.There are a lot of great illustrations on fractional reserve banking because it goes back in time hundreds if not thousands of years. Here are just a few: FRB1, FRB2.

Austrian Economics

• mises.org/money.asp

As I conclude, there are a lot of financially equipped people out there – smarter than myself.  But I know this: If I had the information and the means to be in a position to capitalize on any of the previous financial bubbles, I think that I would be financially comfortable today. I have learned from them and continue to learn from those who predicted the last few economic set-backs. I have not even mentioned Ralph Elliott and Robert Prechter and the Elliott Wave predictions. I will write about that later. If you are like-minded and want to be in a position to be prepared, then chime in. And if you would like to contact me, please do so.