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harlan07's picture
Joined: 02/11/2012
Hat Tips: 488
Posts: 44

Hi there, brand new to turdville, started investing in PMs recently. Was in denial about what is going in for many years. My 401k allows me to invest in GLD and SLV so I've been dollar cost averaging into them since December.

Is that a good idea? I've hear they are scams.

Who are some other trustworthy metals commentators. There is so much disinformation out there, it's hard for a newbie to sort it out. What about King world news and Bob chapman?

Edited by admin on 11/08/2014 - 05:47
bernard's picture
Joined: 06/15/2011
Hat Tips: 2596
Posts: 221
KWN = perma bull, you will

KWN = perma bull, you will get tired of it eventually. Bottomline, the metals are in a secular bull market because paper mark to fantasy is coming into the forefront of human conscience. Bob Chapman is a very smart guy, but Bill Murphy, John Embry, Sprott, Jim Sinclair are my personal favorites. I would highly recommend against having your 401k money in SLV and GLD... because that is I think entirely against the whole point of what you are trying to do: namely, protect yourself by owning hard assets. SLV and GLD are not the same thing, FAR FROM IT, as owning the physical metal in your hand. All these ETFs can be CASH settled, or have a force majeure clause where they can at their discretion return the customer funds and close the fund. So... when physical decouples from this paper-pricing scam... you will likely be settled, in cash, aka paper, aka exactly what you don't want... meanwhile, you will then have to take that paper and try to convert it into physical gold, at which point I believe you will find that no one will take any of your dollars for their gold anyways.

All the best to you.


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