Print

Gold bugs and dealers alike have pumped out so many misconceptions and flat out lies about gold, silver, and the economy that it would be impossible for me to set the story straight in a single article; that's saying a lot considering the fact that my articles tend to be rather lengthy. However, I have previously written several articles that address the majority of the most common of these myths and lies (check the end of this article for a partial list).

If you have been sucked into the vortex of lies from these charlatans, you could stand to lose a HUGE amount of money over the next several years as the gold bull market comes to an end.

And if you really think gold will never again fall below $1000 as Marc Faber the gold-pumping clown has "guaranteed," I regret to inform you that you're a damn fool. Why would you even trust what a man who is always preaching doom has to say?

Moreover, if you really think the Dow Jones is headed to 1000 like Robert Prechter insists, you aren't thinking straight.

And if you think the euro and even the European economy is in better shape that the U.S. dollar and the U.S. economy, as Peter Schiff insists you might want to check yourself into the loony bin. And you can take these clowns with you.

Perhaps the real reason for the ridiculous statements and claims made by these men is due to FINANCIAL INCENTIVES.

Every single one of these gold hacks is making money in some way from pumping gold and making gross exaggerations about the U.S. economy.

The fact is that they are making false statements and coming to ridiculous conclusions in order to line their pockets with YOUR money.

Having no bias is no guarantee that you will be right, but it is something all investors should look for.

If you want the facts about gold and silver, hyperinflation and everything else, as well as the insights from one of the world's leading investment minds, we suggest you patch into our research.

Of course, the best way to access our investment intelligence is to subscribe to one of our investment newsletters. Newsletter subscriptions come with a complimentary Membership.

You will not find this level of insight anywhere else in the world.

Here we conclude this 5-part series.

See here for Part 4.

See here for Part 3.

See here for Part 2.

See here for Part 1.

I ended Part 4 by mentioning the fact that the fees gold and silver dealers charge are SO HIGH, that even if these metals rise in price by 100% you could still lose money. This has already happened to many people.

And once the precious metals bull market ends, millions of individuals are going to be stuck with huge losses.

Of course, you aren’t going to hear about these unfortunate stories because there is no financial incentive to make this reality known. And sadly, virtually everyone is driven by financial incentive as opposed to doing what's right. Remember who controls the media; those who pay for ads. That determines what gets aired.

Because most people are followers of the herd, I can assure you that the vast majority of gold bugs actually believe all of the BS they write about when pumping delusional statements about gold, the economy and such. Even if they knew these statements about hyperinflation and so forth were bogus, they would continue the con game because they want to make money. And they don't give a damn how many old ladies they rip off.

But I'm going to make a prediction. Once the gold bull market comes to an end and gold settles under $600, the media is going to report all kinds of stories how people were ripped off.

How do I know this?

Because this is how the media works. The media acts as a partner in crime with the various entities that send it advertisement dollars so as to help it carry out the con game. But after Main Street has been ripped off, the hucksters no longer send ad dollars to the media to promote the scam because the game is over. So the media sides with the victims to portray the message that it gives a damn. This results in high ratings. In this way, the media has its cake and eats it too, always ensuring optimal ratings while assisting scam artists in ripping them off. Ultimately, this predictable scam continues to remain successful year after year because the masses are too stupid to realize this basic con game.

So, are gold and silver dealers charging you a fair fee or are they ripping you off?

In order to get a better idea about this, let us compare the fees charged by gold dealers to those charged by money managers and mutual funds.

Throughout this analysis, it will be important to keep in mind that these ridiculously high gold fees are being assessed for a simple transaction. In contrast, the much lower fees charged by fund managers are an on ANNUAL basis. Think about that.

Before I begin, I wanted to remind readers that in the past I have discussed that in general, most mutual funds are not a wise investment choice for most people (or else mutual funds are frequently overutilized by many investors which leads to high fees and excessive risk) because of the high fees and limitations on investment management.

See here and here.

Keep in mind that there are some exceptions to this rule and I have discussed such exceptions at length in the Wall Street Investment Bible.

Okay, so what are the typical fees charged by mutual funds?

And what kinds of fees do funds charge?

You probably think the average mutual fund annual fee is around 2%, but that's a misconception.

The average no-load equity mutual fund fee comes out to around 3.5% to 4% annually after all fees have been added.

[Even Bill Gross' highly useless Total Return fund takes about one-third of the gross fund returns in fees (the fund's total fees are about 2.3% while the average annual returns are about 6.2%). The Total Return fund is the largest bond fund in the world, which tells you how ignorant most investors are. What sane person with common sense would pay such high fees? I have previously exposed what I consider to be fraud regarding this fund. See here and here.]

Of course, this is much higher than the (typical) advertised 2% expense ratio, so what gives?

The fact is that there are several other fees that are not included in this calculation. The 12b-1 or marketing and advertisement fee (which is typically 0.25%) is just one of many fees that are not included in the expense ratio.

If you doubt me, take your fund prospectus to a securities attorney and ask him to go over it, and he will show you precisely how you are being bilked without even realizing it. You might even try to decipher the fine print contained in the fund prospectus on your own.

[According to SEC attorneys, this behavior is acceptable so long as it is disclosed in the prospectus regardless whether or not you are able to understand what it says. This is specifically what I was told by an SEC attorney after submitting a complaint on poor disclosure of fees.

By now it should be obvious who the SEC works for. Although I have written numerous articles since 2008 discussing the criminality of the SEC, I first wrote about the SEC's partnership with Wall Street in 2006 in America's Financial Apocalypse. Clearly, I have been vindicated.]

What about money managers? They typically charge 1% to 2% annual fees.

So what are you getting for this 2% annual fee?

First, you are receiving the fiduciary services that money management firms are required to provide to their clients. That means they are required to look out for your best interests.

Certainly, I'm not going to sit here and tell you that money management firms only care to make YOU money, but there are certain things that money management firms can and cannot do to help protect the client and their assets.

One of the most important services that comprise this "bundle" of fiduciary responsibilities is that fund companies must determine the investment suitability of each of their clients and match this suitability with appropriate investment strategies.

This process of determining suitability and matching up the client's objectives and risk tolerance with the appropriate investment fund (or strategy) certainly isn't rocket science. Nevertheless it addresses basic elements of investment prudence so that investors are made aware (to some extent) the amount of risk they are taking, what they should expect and so forth. Of course, they only provide estimates, and many of these estimates are even generic, but it is better than nothing.

Second, (in most cases) your separately managed account can be customized to provide you with tax-loss selling strategies that are compatible with your tax loss needs. That can be an added monetary benefit that can sometimes help recoup some of those 1% to 2% management fees that you're paying.

Overall, money management firms (not stockbrokers who place you with such money managers) work hard every day for a year to manage the money that you send them in order to collect that 1% to 2% fee.

Third, you are also likely to receive a variety of research and guidance, from written reports to conference calls, all depending on the firm.

Large money management firms employ a large staff of financial professionals geared towards servicing client accounts.

In addition to handling a variety of customer service issues, they must also adhere to regulatory compliance, which is extremely burdensome in the financial industry. That means they need to hire compliance officers and a legal team, and other costly expenses required to operate a money management business.

That said, there are many problems with money management firms. But I am not going to get into that here because I do not want to distract from the point of this article. Just keep in mind that things are not all rosy with money management firms.

The point is that the fees for annual management of assets at fund companies is much smaller than a single transaction fee for gold and silver. Yet, fund companies have a variety of expenses and provide numerous services to their clients that comprise the ongoing duties of managing the funds.

In contrast, gold dealers have very few ongoing costs. First of all, the industry is not really regulated so there are no huge administrative and compliance fees like those in the securities industry.

When you buy gold from gold dealers, there are no financial advisers there to discuss risks with you. They don't assess your risk tolerance, so they are not adhering to any level of suitability. They are not qualified or licensed to do so since gold is not regulated by the securities industry. The absence of regulation is perhaps the biggest problem because people can end up making horrific investment decisions based on sales tactics which include disinformation as well as scare tactics.

Anyone can easily become a gold dealer. Unlike in the financial industry, there is really no screening process to become a gold dealer. There isn't anyone to check for a criminal background or anything. If you are a convicted felon, you can be a gold dealer.

In contrast, if you have so much as a DUI, you probably won't get a job on Wall Street, unless of course you have strong connections (being Jewish sure as hell isn't going to hurt your chances).

And the operational costs required to run a gold dealing shop are relatively small. You don't even need a brick-and-mortar office dedicated to selling gold; just a website. Many gold dealers operate from their homes and have amassed millions of dollars in profits in a few years.

As you can imagine, when you are charging 5% for large dollar purchases (and up to 10% for smaller purchases), you can make a great deal of money over a short time frame, especially when your overhead is mainly spent on advertising.

And once you have collected the fees for each transaction, you’re done. You don’t need to service anything or anyone because each gold purchase is a transaction. There are no ongoing customer service issues, no compliance, no nothing. Accordingly, the operational expenses for gold dealers are extremely small relative to the fees earned. Clearly, gold dealers are making off with exorbitant amounts of money in fees.

The fact is that for most gold dealers, the majority of their expenses are devoted to sales and marketing (even more so than money management firms).

Here's how it works. Gold dealers pitch gold as the key to your salvation from the doomsday scenarios that continue to be plastered everywhere. Gold dealers have pumped enormous sums of money into all of the propaganda circuits (broadcast, print and digital media) in the form of advertising, event sponsorships and direct payment to clowns like Gerald Celente and other morons to produce videos for the purpose of scaring the daylights out of you. These pitchmen are always talking about how the end of the world is coming and how gold will be the only thing used for bartering after all currencies are destroyed.

The less extreme version of this scenario points to hyperinflation, rendering the U.S. dollar worthless. Either way, all of these charlatans speak as if gold will continue to rise in price forever. In fact, Peter Schiff is now promoting his gold "chocolate bar currency," to be used "once the dollar collapses." I believe Schiff has some serious mental issues.

Although Schiff claims that gold retains its value, he fails to remind his sheep that they immediately lose 8% of the value in fees once they buy it from him. Clearly, he has some ethical deficiencies. The market for doom has never been more lucrative.

Marc Faber has even guaranteed that the U.S. will experience hyperinflation by the next couple of years. He has also guaranteed that gold will NEVER fall below $1000.

I have discussed the fact that hyperinflation in the U.S. is essentially impossible over our life time.

In addition, I have also discussed that once the gold bull market reverts to its inevitable bearish cycle, gold is going to fall below $600 (perhaps much lower) and remain there for many years.

Clearly, Faber is a clown. The problem is that he gets so much media exposure that many individuals naturally think he is credible and believe his bullshit. These are the more naive individuals who have not yet come to the realization that the media does NOT AIR credible, unbiased experts.

On the rare occassion that the media does air someone credible, these individuals typically do not offer any useful insight.

So why does Faber get so much media exposure if he is a complete idiot with a terrible track record?

The same reason why Peter Schiff, Martin Weiss, Robert Schiller, Gary Schilling, Robert Prechter, Nouriel Roubini, etc. are plastered all over the media; they are JEWISH.

The amount of doomsday propaganda and myths that have been created by the gold charlatans has been unimaginable. You cannot avoid this propaganda. It's everywhere you look. You see gold and silver ads on every website and blog that discusses economics and investments. Gold and silver commercials are plastered all throughout the radio and TV networks. You see gold and silver ads on billboards. In many respects, the level of manipulation we are seeing by gold dealers and the media is evidence of a gold bubble.

Having created these ridiculous scenarios enables gold dealers to ding you with a 5% to 10% fee (depending on the quantity, whether it's bullion, whether it's gold or silver, and whether the coins are old or newly minted). And you won't even think about the fees because they have told you that gold is headed to $5000, $10,000, $20,000, and even much higher.

It's a simple transaction. You place an order and the dealer sends you the gold or silver, or they send it to a storage facility which is another way to siphon money from you. After a few minutes the transaction has complete and they move on to the next sucker.

And when the time comes for you to sell they'll slap you with another 10% fee; simply amazing. This is why gold dealers have spent so much effort creating this doomsday scenario, all while positioning gold as your key to salvation.

Perhaps the biggest problem faced by gold bugs is that gold dealers and those who they've commissioned to spread propaganda is that they never mention any type of exit strategy for gold because they want their sheep to think that it will represent their life line when all hell breaks loose. This enables them to charge ridiculous fees without any scrutiny. After all, you aren't going to complain about the price of a life raft when the ship is sinking, right?

But mark my words. Once it becomes obvious that the long-term gold bull market has turned into a long-turn bear market, you will see gold dealers encouraging the sheep to sell their gold. And they will chop off an additional 10% in fees as well. Thus, the sheep will not have formed their own exit strategy in advance. Their exit strategy will be formed by gold dealers. And you can imagine who stands to benefit from this relationship.

If you are naive enough to believe the BS from gold charlatans, then you aren't likely to scrutinize these huge fees. After all, gold is going to save your life, right?

Or maybe gold will be the only form of “currency” accepted at gas stations and grocery stores when the value of the dollar heads towards 0, as Peter Schiff and the rest of the dog-and-pony show have suggested.

Schiff even suggests that those who buy Valcambi gold pellets from him will have a special line they will be allowed to go to when purchasing gasoline, which will be much shorter. Of course, this is Schiff's way of making his sheep feel like they will be treated special. This type of psychological manipulation by Schiff and others should be investigated by FINRA as well as the Federal Trade Commission.

At this point, the only people who stand to benefit from gold and silver are those who are selling and charging transaction fees. Clearly, being a gold dealer could very well be the easiest money to be made (legally) so long as you have no scruples.

Gold dealers get away with spreading lies and myths and using scare tactics in order to convince gullible individuals to buy gold from them because as I eluded to earlier, gold sales really aren't regulated. Other than getting some rinky dink approval from a state agency, gold dealers are not subjected to the scrutiny seen in the securities industry.

Even in the very highly regulated securities industry we see massive fraud. So what does this say about the unregulated industry of precious metals dealers, especially those who cater to retail investors? Figure it out folks.

Unfortunately, most people are so naïve that they remain unaware that gold dealers and bought-off hacks stand to gain by painting scary pictures of the U.S. economy and telling you that your only escape from the apocalypse is to buy gold...physical gold only! The requirement set forth by gold charlatans that you should only buy physical gold should be sufficient to make people suspicious.

Why are so many people so naive? It's quite simple. They have been brainwashed by the media. The more one allows themself to be exposed to all forms of media, the more gullible and brainwashed he or she will become. This is a fact.

Although I really didn't watch TV anyway (and I haven't had cable in more than 15 years) I recently gave away my 55 inch Sony TV. I'm done with that trash. Maybe you should consider doing the same.

"Forget gold and silver ETFs," the precious metals charlatans insist. That’s a “no-no.” According to these charlatans, gold and silver ETFs are no different than paper currency. They insist that these ETFs are not really backed by physical gold and silver. Again, gold charlatans create lies in order to steer their sheep into buying physical gold and silver because they cannot make a dime of people buy gold and silver ETFs. They want to suck those huge commission off of you.

Do I need to remind you about Max Keiser's "Buy Silver, Crash JP Morgan" scam??

See here and here.

Perhaps you'd like to be reminded of Keiser's latest scam, Bitcoin. See here.

I addressed the pros and cons of buying gold and silver ETFs versus the physical metals in America’s Financial Apocalypse. This might be the only unbiased presentation of gold and silver prior to the financial crisis.

Aside from the extraction of value caused by these ridiculously huge and unjustified transaction fees, gold bugs are unable to trade the price volatility in gold and silver because physical gold and silver are not liquid and the fees make trading them cost prohibitive.

And once again, because most gold bugs have no exit strategy, they are setting themselves up for huge losses. For many gold bugs, the situation is potentially much worse. Because most gold bugs are unsophisiticated investors, they have socked 50% or even 100% of their investible cash into gold and silver. Clearly, they are positioned for financial ruin.

Certainly, there are some advantages to buying physical gold and silver. But once prices crossed $900 and $20/ounce for gold and silver respectively, these advantages began to vanish due to the added risk created with the rise in pricing of these metals.

Moreover, the rise in the U.S. stock market has further eroded any advantages of holding gold.

That's not to say that I didn't think gold and silver were headed higher because I was pretty sure they would.

In fact, in my first gold article, while I stated that people need to remain cautious when buying gold at over $900, I was sticking to my forecasts for these metals that was contained in America’s Financial Apocalypse.

In that book, I stated with very high confidence that gold would hit $1200 and might go as high as $2200. Meanwhile, I stated that silver could easily hit $30 without a depression. With a depression it could head past $50.

Although I have not ever written an article where I recommended people to sell their gold or silver, oddly enough many gold bugs seem to think that I have. I suppose they are so used to reading gold pump pieces that once a person comes out and warns readers of the increasing risks and dispells the myths about gold that have been plastered everywhere, they interpret this as a sell signal. This alone gives you an indication of the mentality of most gold bugs.

Some of you who are not familiar with me or my track record might be thinking that I’m just another guy writing another piece “bashing” gold and silver. Accordingly, you’re likely to attach equal weight of importance and accuracy on a one-for-one basis to the millions of others that pump gold.

Always remember that all viewpoints are not created equal. Just because something is published in print, online or aired in the broadcast media does not make it accurate. In fact, more often than not the larger the audience, the more likely the content is either inaccurate or slanted.

The problem is that most people tend to give equal weighting to every point of view they run across. As a result, what happens is that in the end they will weigh the number of viewpoints with the number of counter viewpoints and make a decision based on this. What that means is that most people think credibility is based on a numbers game. The only problem with that mentality is that the media determines the winner of this numbers game.

Based on my track record, I believe it is fair to say that my articles deserve to be given huge weight compared to those pumped out by precious metals dealers and associated gold bugs. Some might even say that my articles are the only ones that should be read.

As many of you already realize, I hold the leading track record on the economic collapse, the leading stock market and commodities forecasting record over the past six years.

Anyone who thinks otherwise is free to submit their entry for a chance to win the $100,000 reward we are offering.

In addition, I am the only financial professional who authored a book that discussed this mess before it happened, advised investors to get out of the stock market and wait for the collapse, and to buy gold and oil.

I also advised investors to get back into the stock market at the exact bottom.

Even the least experienced investors could have easily pocketed a cool 1700% if they had followed my recommendations to buy Netflix (NFLX) and short Blockbuster (BBI) in 2009, as discussed in the Wall Street Investment Bible.

I also warned investors about a collapse in NFLX (in several video presentations) once it was well over $200.

And Just as it began to weaken at just under $300, I released a video to newsletter subscribers predicting that the stock would collapse. I also stated I would consider buying it back in the mid-60s. Several months later, NFLX collapsed from over $300 to $52, and then soared to $190.

[This is just one of numerous winning calls I have put into print in advance for all to see and to take advantage of. The latest winning spree consists of two video series first published in April and May of 2012.]

I am also the only financial professional who had no bias and no financial stake in pumping gold, yet I recommended it early on.

In fact, I began advising my clients to buy gold in late-2001, just when the gold bull market was in its infancy. But I have recently expressed caution to investors about buying and even holding it at such high levels, especially due to the massive manipulation of Main Street by the Glen Becks and Peter Schiffs of the world.

Finally, I could be the only financial professional to have recommended gold early on, but advised interest parties to buy gold ETFs.

The reason for my unique role in this should be obvious. Those who recommend gold only do so to line their pockets. And they cannot line their pockets if they recommend gold ETFs because they will not make commissions on gold sales and/or they won't attract ad sponsorship from gold dealers.

The propaganda has been unprecedented in this realm, and approaches that seen during the dotcom bubble. And we all know what happened after the dotcom bubble burst; Main Street was stuck holding the empty bag, while Wall Street profited.

As part of this precious metals con game, many of the most visible gold hacks have continued to insist that the U.S. stock market would collapse to 4000, 3000, 1000 and even lower. We all know who these clowns are; Peter Schiff, Marc Faber, Harry Dent, Robert Prechter and many other gold pumpers. Meanwhile, the U.S. stock market continues to soar to record highs.

Another interesting point about gold dealers and doomsday delusionists is that the vast majority are Jewish. That is not to say that you won't find Gentile gold dealers or messengers of doomsday scenarios because you will. But when you examine the percentage of Jewish gold dealers/doomers versus their representation in the media, you will get a better idea about who really runs the retail gold charlatan market.

These charlatans have also spent huge sums of money creating videos meant to scare those who watch them and even more money marketing these videos.

Many of these individuals have made false claims regarding their track record, as well as exaggerated claims and assumptions regarding the U.S. economy and the stock market.

As you might have suspected, all of these individuals stand to benefit from endorsing the purchase of physical gold.

At the same time, these hacks have insisted that gold will soar to $10,000, $15,000, $20,000 and even $57,000, as the dollar goes to zero. The script would make a nice fantasy movie.

Only after one conducts a comprehensive examination of the facts, the methods, means and motives of this propaganda campaign will it become apparent.

As we all know, the stock market has continued to move higher since the lows in early March of 2009. And if you haven’t been in since then you missed the boat. If in fact you did miss the boat, you should do two things.

First, you need to ask yourself why this happened. Was it because you have been brainwashed by the BS from gold pumpers who are plastered all over the radio and TV and Internet like Glenn Beck, Peter Schiff, Marc Faber, Alex Jones and similar clowns?

Next, you need to make a change. You need to start listening to those who know what the hell they are talking about, especially if they have no bias.

If you want to know whether someone truly knows what they are talking about, you need to examine their track record.

And if you want to determine if they are unbiased, check to see if they sell securities or precious metals. If they sell either or even both, they are biased.

Always examine the track record of your source in depth, looking for accuracy and specific forecasts rather than open-ended statements.

Although the process can be detailed, you should at least do the following:

-Determine their hit/miss ratio; how many times are they wrong versus right?

-Determine whether they have been preaching the same lines for years; if so they have no credibility since a broken clock is always right once a day. Timing IS important (virtually every doom and gloom clown you can imagine - Schiff, Faber, Weiss, Prechter, etc.)

-Determine the source of the track record; was it in a form that cannot be altered?

-Determine their full track record; many financial professionals who specialize in marketing and virtually all newsletter publishers cherry-pick their winning calls while neglecting to show you their losing calls.

They also like to extrapolate their claims. For instance, most of these charlatans may have stated that “Bear Stearns was in deep trouble” only later to have claimed that this was a prediction that it would go bankrupt. Without examining their full track record, you cannot determine their accuracy.

As the only financial professional in the world I am aware of to have predicted the bottom in the market and issued a buy signal at the bottom, I have demonstrated the benefits of navigating the ups and downs of the economy and market.

Moreover, having predicted each major correction during that time, I have also illustrated the value of risk management and market timing.

Of course, these tasks are by no means simple to achieve with success consistently. This is precisely why those lacking real investment skills pitch snake oil.

But this isn’t about me. It’s about the jug heads and con artists who have brainwashed their sheep into missing out on the largest stock market rally in several decades.

If you do not know what drives the stock market, I suggest you never invest in it. Apparently, gold bugs have no idea what drives the market; it’s earnings. And earnings have been on a tear since 2010. Earnings drive the market.

I don't give a damn how much debt Washington takes on to add stimulus to the economy, the fact is that corporate earnings drive stock valuations which drive price targets. Someone needs to tell this to the doomsday, gold-pumping morons out there.

Remember, I was the ONLY person to have written a book making a case for a depression BEFORE the financial collapse even began, and I am telling you that these doomsday scenarios are bullshit.

So who are you going to believe? Who has something to sell you based on doomsday scenarios? Certainly not me. My research is just as valuable whether we face good times or bad. It is only the precious metals dealers who stand to benefit from convicing you that these doomsday scenarios are coming. Think about it folks. They are clearly biased. And not a single one of these chumps has an ounce of credibility.

Yet, the gold bugs continue to insist the stock market will collapse to 1000 for no apparent reason. Folks, this represents intellectual fraud.

And for some of you who were gullible enough to fall for their pitch, it may have led to huge losses due to missed investment opportunities.

Gold charlatans are not only morally bankrupt, they are also intellectually bankrupt in my opinion. In fact, I honestly believe that many of the kingpins gold charlatans are mentally ill, and thus they actually believe their delusional statements.

It is a fact that the gold bug crowd generally consists of the most unsophisticated investors on earth. Because they do not understand valuation, risk, prudence, and other variables required to make intelligent investment decisions, they are stuck with very few options. As a result, they allow the emotional arguments for gold as an investment to sway them. This is a huge mistake.

Rather than understanding the process of business and securities valuation, they are drawn to gold based on fictional scenarios hyped by morons who are being paid to pitch these grand delusions. As such, you would be hard-pressed to find a single gold pumper that is respected by the top tier investment community. If you can find one, I will guarantee you they own gold in their fund and are merely trying to pump up the price. That means they have no credibility.

But surely I can't be the only person in the world to know the truth about gold, right?

Most of what I have been writing about gold isn't earth-shattering material. And I will guarantee you that the vast majority of truly sophisicated professional investors will agree with everything I have been writing about gold.

If that's true, why don't people ever hear these myths about gold being debunked in the media?

For the most part, leading investors have not bothered to address the manipulation of gold prices by gold dealers and others because they aren’t concerned with the sheep. Only when such investors are specifically asked about gold do they present the truth.

Once you have been armed with the facts about gold and understand the basic tactic used by snake oil salesmen, it becomes quite easy to spot these hacks. All need do is to check their blog roll and you will see the same names reappearing over and over again.

They all say the same things while patting each other on the back. I have detailed these names and exposed these tactics extensively in our Encyclopedia of Bozos, Hacks, Snake Oil Salesmen and Faux Heroes.

And the last thing these hacks would do is introduce an opposing viewpoint in order to open a healthy debate because their business is not about finding real solutions. It’s all about selling you an epiphany.

As previously mentioned, I recommended gold in America’s Financial Apocalypse at a time when it was just over $600 (I began recommending gold to my clients when I worked on Wall Street in late-2001). But there were two caveats to this.

First, I recommended investors buy gold ETFs so they could trade the volatility.

[This recommendation as responsible for getting me black-listed by gold pumpers in the media.]

Second, because gold is much higher today, one must be VERY careful about buying it.

The last thing you want to do is buy an asset when it is near the end of its bull market. This is especially true for assets that have no ability to generate cash flows, like gold.

I have discussed this point several times in the past. If you are unable to understand this, I would suggest you stay out of all investments forever, as you will be much better off.

All of this aside, I am not stating that gold will not head higher. Similar to all of my previous articles on gold and silver, this is not a gold or silver forecast. I am merely discussing the realities about gold, including the risk and the psychological tactics used by those who stand to benefit from pumping gold.

Remember people, if gold is such a great investment...

...if gold is headed to the moon as all the gold dealers insist...

...why in the hell are they spending HUNDREDS of MILLIONS of DOLLARS trying to convince you to buy it from them?

Why don't these gold dealers just hoard gold and wait for it to soar??

Someone needs to ask Peter Schiff, Marc Faber and all of the other gold pumpers, hyperinflation and doomsday delusionists these questions.

Remember, Schiff is the same man who six years ago insisted the U.S. would face hyperinflation and the dollar would go to 0. The same can be said of Faber.

In fact, virtually every other gold charlatan and doomsday clown in this network made the same claims, or have you already forgotten?

Six years later, after the financial crisis and global economic blowout and the U.S. isn't even experiencing normal inflation!

Don't Bet on Hyperinflation

Why Hyperinflation Isn't Coming to the U.S.

In addition, as Europe continues to implode, Schiff keeps claiming that the euro is safer than the U.S. dollar! WOW.

Today, as the U.S. dollar remains strong, the U.S. stock market closes in on all-time highs, inflation remains in check, these clowns refuse to address their miserable predictions. Instead, they distract their sheep with more buzz words and phrases that really have little meaning such as "currency wars."

Based on Schiff's terrible track record and ridiculous statements, in my opinion, anyone who has money with Schiff's Europacific Capital is a damn fool.

And you know what they say about fools and money.

[If Mr. Schiff would like to make his case to me as to why I should not be worried about his "investment strategy" on a neutral platform (live), I am willing to listen, BUT he must allow me the chance to respond.]

GOLD ARTICLES

(do NOT read one and form your opinion; you can

only obtain the full picture by reading each article)

Fool's Gold (Part 1)

Fool's Gold (Part 2)

Fool's Gold (Part 3)

Kitco: The CNBC of Gold

Manipulation of Gold and Silver Prices

Understanding the Proper Use of Gold and Silver

Kitco Senior Gold Analyst Agrees with My Views on Gold

Dismantling John Williams' Hyperinflation Predictions

Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 1)

Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 2)