The Miles Franklin Newsletter
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From The Desk Of David Schectman
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Susan, David and Andy last night, celebrating Andy's 49th birthday at a local restaurant. Andy and David have been together at Miles Franklin for well over half of Andy's life.
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For thousands of years, gold has been the safe-haven asset. It’s preserved wealth through every kind of crisis imaginable. It will preserve wealth during the next crisis, too. That’s because it’s durable, divisible, consistent, convenient, and has intrinsic value.
When you hold physical gold, no government can easily confiscate, nationalize, freeze, or devalue it at the drop of a hat.
Gold is universally valued. Its worth doesn’t depend on any government.
There is nothing particularly American, Chinese, Russian, or European about gold.
Different civilizations have used it as money for millennia. It’s always been an inherently international asset.
And while you’re right that governments can confiscate gold – like the U.S. feds did in 1933, under the pretext of a national emergency – it would be pointless for them to do so again.
Today, only a tiny fraction of the U.S. population owns gold. Heck, I’d bet most Americans have never even seen a gold coin, much less appreciate its value.
This wasn’t the case in 1933, when the U.S. was still on a variation of the gold standard.
That’s why the government probably won’t repeat the 1933 rip-off. It’s simply not worth the effort.
For proof, I suggest watching
this video
of a social experiment of average people on the street being given the choice between a candy bar and a gold coin.
If the government wants to confiscate wealth, it’s far more likely to go for the easy option… steadily debasing the currency by printing money. It’s a stealthy way to confiscate from savers.
– The Daily Cut
As you know, I think we’re on the brink of a huge bull market in gold. And MS64 Saint-Gaudens gold coins are one of the best ways for ordinary folks to own physical gold.
If you’ve never bought any, now is a great time.
These coins are trading at the lowest premium over gold in more than 20 years!
- Matt Badiali
Expert Triples Down on $3,000 Gold Call, No Doubt.
We have breached the first level, $1,350 an ounce, needed for gold to climb to $3,000. -
Dan Oliver, founder of Myrmikan Capital.
“There’s a lot of pressure into gold, and we’ve just barely begun this cycle,
- Dan Oliver, Myrmikan capital
Forget Great Depression; the Greatest Ever is coming.
– Gerald Celente
"Gold is clearly responding to a global pivot by central bankers back towards concerted monetary easing....for gold this is the real deal and we suspect things are just getting started."
– Trey Reik
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David's Commentary (In Blue):
9 years ago I was speaking at
The Money Show
in Orlando. It was there that I met Bob Unger, a man of great intellect and conviction. We immediately struck up a bond and have stayed in touch ever since. His views on religion and our government and economy are well researched and well thought out. He is not off the wall, not in any sense of the word. I always enjoy his comments and the email I just received from Bob is very timely and should give you reason to think about what is happening now.
This is the information that the media is not telling you.
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Anyone who has read my work for the past few years knows I have
been warning about Trump
as a
false prophet
for the liberty movement and conservatives in general. And everyone knows my primary concern has been that the globalists will crash the Everything Bubble on Trump's watch, and then blame all conservatives for the consequences.
To be clear, Trump is not the cause of the Everything Bubble, nor is he the cause of its current implosion. No president has the power to trigger a collapse of this magnitude, only central banks have that power. When Trump argues that the Fed is causing a downturn, he is telling the truth, but when he claims that recession fears are exaggerated,
or "inappropriate"
, he is lying. What he is not telling the public is that his job is to HELP the Fed in this process of controlled economic demolition.
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As I recall, it was at the same The Money Show in Orlando in early 2010 when my son Andy first stepped onto the stage and delivered a speech to a live audience. Andy has been with me since 1990 but he had never done any public speaking – until then. He was so nervous his shirt was soaked with sweat. I think the poor boy nearly fainted. That was then, but these days, he is a rock star. He is always one of the most polished speakers at the conference. If you ever get the opportunity, you should hear him speak. He is always a headliner at the Sprott conference in Vancouver.
I also remember at the time, Platinum was above $1,300/oz (moving up toward $2,200) and Gold was selling for $1,000 and rising. This morning gold is $1,500 and Platinum is $855. It is pretty clear that Platinum is an industrial metal and the demand for Platinum is soft, whereas Gold is money and the demand for it is increasing as debt is out of control on a global level. Every central bank has opened the spigots and we are drowning in dollars, yen, euro and yuan, to name but a few.
My friend Lou sent me this email today. His father was in the car business and they always had nice cars in the family. He knows I write about inflation and here is another wonderful example of what I mean when I say gold maintains buying power over time.
Here is a picture of Lou’s father’s 1951 Cadillac Convertible. He said,
“The new sticker price was $5,300. Gasoline cost 0.27 cents a gallon. Milk was 0.84 cents a gallon. And the NY Yankees won the World Series.”
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I’d like to add, Gold was $42.22 an ounce and you could have purchased this lovely car for 125 ½ ounces of gold. Today the same amount of gold would buy you at least three new Cadillacs ($188,300).
Have you noticed how the price of gold moves up and down but usually settles right at $1,500 and the price of silver settles right at $17? The price is not being established by market supply and demand of physical gold and silver. It is being established by casino type gambling on the COMEX between the Commercials and the Managed Money Hedge Funds. This is so wrong on so many levels, but in the end, the physical demand will win out.
It’s been quite a while since I presented anything from John Mauldin. He hasn’t always been on the gold bandwagon. He ends his article with the following statement:
“
I predict an unprecedented crisis that will lead to the biggest wipeout of wealth in history. And most investors are completely unaware of the pressure building right now.”
This is exactly the financial landscape that gold was meant to protect you from. If there is a huge wipeout of wealth bearing down upon us, what better place to avoid the carnage than in gold and silver? That is MY take. It is not much different from Mauldin’s as he says,
“
I can’t say it any stronger.
If I really see MMT coming, I will reposition my portfolio to heavily weight gold,
real estate, and a few biotech companies.
I simply can’t imagine a more dire economic scenario.”
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John Mauldin
Modern Monetary Theory Could Destroy This Nation
I am back from my 14th annual Maine fishing camp.
The private event at Leen’s Lodge is generally called Camp Kotok in honor of David Kotok of Cumberland Advisors who started these outings many years ago.
CNBC and others began calling it the “Shadow Fed,” but it is really just a meeting of wickedly smart people focused on economics and markets. (I am allowed to attend for comic relief.)
We discussed the world’s problems and the general mood was that many of those problems are beginning to catch up.
Among other topics, there was an open “debate” about Modern Monetary Theory (MMT) and US fiscal strategy.
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Are you one of the “long term hold” or “buy the dips” stock market types? My daughter and many of my friends are. No matter what I say, they won’t change a thing. Still, I sent this very educational and important article to several of them. I am not “pushing” gold on them. It’s their money and I don’t care what they do with it. The purpose of the article is not to sell them gold; it is to open their eyes to what is bearing down on their stock market wealth. If they think they can just sit back, hold on until it reverses, they are in for a nasty surprise this time.
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Egon von Greyerz
THE GOLD BULL IS ALIVE AND KICKING
Maecenas was a well-known benefactor in Rome for Horace and others. His name has come to mean benefactor, in many languages called a mecenate.
The loss of a benefactor can be very serious for anyone on the receiving end of his alimonies. For a century, the world has had the most generous group of benefactors ever.
These benefactors have created immense wealth in the world. Even better, they did it without any major effort. All that was required was a printing machine combined with some book keeping wizardry.
The problem is now that these wizards will very soon be revealed as the biggest swindlers in history. With money printing and debt expansion they have created a $2 quadrillion Ponzi scheme of debt, derivatives and unfunded liability
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I will finish up today, and for the week with this, from Simon Black. He gets it! He says,
“
Stocks are still hovering near all-time highs. Bonds are at all-time highs. Property prices are near all-time highs.
Nearly every major asset class is near an all-time high. But not gold. Gold is still 30% from its all-time high. And silver would need to more than double to reach its all-time high.
Nothing goes up or down in a straight line... and gold has been rising for months. So it’s possible there may be a correction on the way.
But longer term, if this insanity, chaos, and uncertainty continue, gold is poised to do very well.”
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Simon Black (Sovereign Man)
4 Compelling Reasons To Be Thinking About Gold
From time to time it’s important to take a giant step back and take a fresh look at everything that’s going on with a big picture perspective.
The last few weeks has been nothing short of incredible...
so many important things happening that have never happened before ever.
Let’s take a step back together:
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Private Safe Deposit Boxes
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Unencumbered / Segregated Storage
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About Miles Franklin
Miles Franklin was founded in January, 1990 by David MILES Schectman. David's son, Andy Schectman, our CEO, joined Miles Franklin in 1991. Miles Franklin's primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry. In November, 2000, we decided to de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle. Our timing and our new direction proved to be the right thing to do.
We are rated A+ by the BBB with zero complaints on our record. We are recommended by many prominent newsletter writers including Doug Casey, Jim Sinclair, David Morgan, Future Money Trends and the SGT Report.
For your protection, we are licensed, regulated, bonded and background checked droppable-1564579585984per Minnesota State law.
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Miles Franklin
801 Twelve Oaks Center Drive
Suite 834
Wayzata, MN 55391
1-800-822-8080
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