Speaking in a video presented at a Brink’s Canada’s event in Toronto on September 28, GoldMoney’s James Turk outlines the reasons why “everyone should have a precious metals portfolio.”
Turk outlines the stark fiscal facts about government debt problems across the developed world, and why central banks’ determination to devalue the currencies they issue is causing a bull market in precious metals. He demonstrates why gold remains undervalued, despite the great gains seen in its price over the last 11 years, and a means of assessing whether or not the yellow metal is fairly valued or not.
James argues that we are living in “fiat currency bubble”, similar though many magnitudes greater than the recent housing bubbles seen in America, Ireland, Spain and other countries, or the “Tech bubble” in NASDAQ stocks in the late 1990s. The USA is racing towards hyperinflation, courtesy of the Federal Reserve’s monetisation of US government deficits.
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Never saw this before…….”This video is private.”
??????
Can’t watch the video, but I have heard Turk enough to know what he is going to say.
I can testify to all SDer’s that there is enormous resistance from within the community of investment portfolio managers not to invest in physical gold/silver.
I am in those board rooms that control multi-million dollar investment accounts. I chair those Audit and Finance Committees. It simply can not be done. Investment banks are not set up to do it. They have institutional guidance not to even bring up the subject of physical gold. They are only now warming to the idea of paper gold, but in their eyes it’s a commodity play, nothing more.
In the last few years there have been a few pioneers, one university and one insurance company, who have allocated a very small portion, 2-3%, of their investment portfolio to physical gold. The game changer will be when this becomes a best practice and standard within corporate investment portfolios.
Believe me, I have met with the top men and women in some of the 20 largest investment banks. It’s like talking to a wall. They are blind to the need.
“I can testify to all SDer’s that there is enormous resistance from within the community of investment portfolio managers not to invest in physical gold/silver.”
Of course it is and here’s why: investment managers get paid based on the size of the portfolio they run. They may also get bonuses for good performance on top of that. People who buy, hold, and sell stocks, bonds, and other paper investments pay these managers for running their money. Any money that comes out of the paper game and goes into physical PMs reduces their earnings and is unlikely to ever return to their paper accounts. People rarely ever sell their gold or silver to buy a paper investment. They typically just hold their metals or sell them when they really need some cash. In any case, their PM purchases do nothing for the investment managers so they do not recommend physical gold and silver. To do so would be like a mechanic recommending that one of his customers buy a car that he cannot service. Probably not gonna happen.
I hear you @Ed_B, but it goes beyond the institutional portfolio managers not being able to make money off of gold. They just don’t get the PM story. They live in a Keynesian utopia. The myopia extends to the board room as my fellow directors are just as blind. My theory is it must have something to do with a business school “education”. The people who really seem to grasp the gold/silver story are smart, self educated people. At least that is what I have observed.
Oh, I am certain that it does but this explains a lot about why many of the small time financial advisors and brokers avoid gold like the plague. It is these people whom Mr. and Mrs. Average American look to for advice on what to invest their money in and not the big-time multi-megabucks guys in the boardrooms.
“My theory is it must have something to do with a business school “education”.”
I would agree with this. It’s the same with engineers who must take a class in “stupid system design” to get their degree. On countless occasions I have looked at things and how they are made only to discover that a MUCH better device could be made via some very simple changes… but weren’t. It is likely the same with the financial guys.
“The people who really seem to grasp the gold/silver story are smart, self educated people. At least that is what I have observed.”
In large part, I agree with this, although there are some who are both well educated and who do grasp the PM story. :-)
@UglyDog The people who grasp the gold and silver story gets humiliated by the others. I have tried to convince a few of my friends and they just ignored me. The most shocking one came from my friend who said “What do you want me to do with it?” when I told him to buy physical silver. The best result came from one of my friend who told me that he does coin roll hunting which means that he knows the value of the metals and also how the Canadian dollar lost a lot of its values. I also told that to my parents and they don’t care about it. I gave up my hope at motivating people around me into buying physical gold and silver.
Blind faith that the government will spend us back to prosperity, besides they are getting rich and probably stacking PM’s from what they make managing stocks and bonds.
The time IS coming, Mary, when those who stacked paper will discover that they have nothing of value at all. Those of us who choose to stack gold and silver, as well as many other prep items, already KNOW that what we have is of true value. When, not if, the SHTF, everyone will know what’s what but only those who prepared for it before then will survive. I don’t know how a lot of others see it but for me it is a question of faith and I simply cannot believe the lies of the fiat agenda any longer.
What I hate to see is that all western countries’ leaders are bad and corrupted at the same time. Is this a coincidence? Harper, Obama, … I can still keep mentioning all the names all day long!
The video is private so I couldn’t watch it. Maybe it’s private because that’s where all the elites are talking to each other about their secret plans in the comment section of the video or maybe it’s because James Turk accidentally released the biggest financial secret in the video so the elites ordered him or the YouTube channel owner to make it private.