Good preparation in line with Jim’s advice will protect you and your investments.
Jim’s MailboxPosted July 26th, 2013 at 6:57 PM (CST) by Jim Sinclair & filed under Jim's Mailbox.
Dear Jim,
Thank you for all you do for us. Truly, we would be lost in the forest without you. I have lost faith in all of my former investments and I’ve dumped all of my IRA’s and my money in the military TSP. I took a hit but I considered what you said and believe you before anybody else. THANK YOU! I know your job is tireless. I hope to attend one of your information sessions one day. If you could come to Dubai, that would be great!
I was laid off in 2009 and lost everything: job, house, car. I was in severe debt. I was unemployed until 2012, when I had to take drastic steps and take a job in Afghanistan. I’ve been here for one year and will probably stay another year.
In the past year to year and a half, I have gotten out of debt completely. I purchased 15 gold maple leafs, which are sitting in a bank safe deposit box and I consider it my 6-month emergency fund, if needed.
I plan on buying a maple leaf per month from now on (as long as I have the money to do so). Maybe some silver too.
My question is about the CEF. Is it just as risky as any other ETF, or is it more secure?
I am so scared about any investment now, all I have is my physical and my stocks in USAGX (I belong to USAA since I’m military). I haven’t gotten around to direct registration with my shares yet, but I will this coming week (I hope – I hope they will do it).
I would love to hear your thoughts. I can either keep buying nothing but physical, or keep with and/or purchase more. I just don’t know if putting it all into physical is the right thing to do. I feel like I have one shot at righting my ship after being under water for so long, and I don’t want to fail.
Thanks!
CIGA Stace
Hi Stace,
Jim has asked me to reply on his behalf to your email.
Firstly, congratulations on what you have done. You have shown courage and the capacity to execute what you knew you had to do. Not many people will do that and you are to be commended for having done so. Your actions are in line with GOTS.
Jim advises that safety deposit boxes are not safe since the inception of the Patriot Act. I appreciate your work circumstances make other options problematic but I think it best that you be aware of Jim’s view about the matter.
Jim does recommend CEF as it is actually backed by physical metal but you must ensure that you take possession of paper certificates in your name for all shares you own.
In terms of your investment mix you should keep up what you are doing. If you convinced that we are in a generational bull market for gold then buying physical and good quality gold stocks is advisable. Above all, don’t be scared by the situation. Good preparation in line with Jim’s advice will protect you and your investments. Your core investment philosophy is correct and you have shown the ability to act so you will be ok. Don’t be talked out of having your stocks in certificate form.
As a quick reminder please see this GOTS check list from Jim:
1. Your equities are held in certificate form.
2. You have no Federal retirement funds.
3. You have no CDs and investments in bonds.
4. You have modest money deposited among selected BRICs countries.
5. You store your own precious metals.
6. You have no mortgage obligations.
7. You keep cash on hand for 6 months expenses.
8. You have no consumer debt at all.
Jim thanks you for your support and input. If you have any further inquiries feel free to contact me.
Regards,
Peter Mickelberg
Communications Consultant
http://www.jsmineset.com/2013/07/26/jims-mailbox-1322/
www.jsmineset.com.
Dear Jim,
Thank you for all you do for us. Truly, we would be lost in the forest without you. I have lost faith in all of my former investments and I’ve dumped all of my IRA’s and my money in the military TSP. I took a hit but I considered what you said and believe you before anybody else. THANK YOU! I know your job is tireless. I hope to attend one of your information sessions one day. If you could come to Dubai, that would be great!
I was laid off in 2009 and lost everything: job, house, car. I was in severe debt. I was unemployed until 2012, when I had to take drastic steps and take a job in Afghanistan. I’ve been here for one year and will probably stay another year.
In the past year to year and a half, I have gotten out of debt completely. I purchased 15 gold maple leafs, which are sitting in a bank safe deposit box and I consider it my 6-month emergency fund, if needed.
I plan on buying a maple leaf per month from now on (as long as I have the money to do so). Maybe some silver too.
My question is about the CEF. Is it just as risky as any other ETF, or is it more secure?
I am so scared about any investment now, all I have is my physical and my stocks in USAGX (I belong to USAA since I’m military). I haven’t gotten around to direct registration with my shares yet, but I will this coming week (I hope – I hope they will do it).
I would love to hear your thoughts. I can either keep buying nothing but physical, or keep with and/or purchase more. I just don’t know if putting it all into physical is the right thing to do. I feel like I have one shot at righting my ship after being under water for so long, and I don’t want to fail.
Thanks!
CIGA Stace
Hi Stace,
Jim has asked me to reply on his behalf to your email.
Firstly, congratulations on what you have done. You have shown courage and the capacity to execute what you knew you had to do. Not many people will do that and you are to be commended for having done so. Your actions are in line with GOTS.
Jim advises that safety deposit boxes are not safe since the inception of the Patriot Act. I appreciate your work circumstances make other options problematic but I think it best that you be aware of Jim’s view about the matter.
Jim does recommend CEF as it is actually backed by physical metal but you must ensure that you take possession of paper certificates in your name for all shares you own.
In terms of your investment mix you should keep up what you are doing. If you convinced that we are in a generational bull market for gold then buying physical and good quality gold stocks is advisable. Above all, don’t be scared by the situation. Good preparation in line with Jim’s advice will protect you and your investments. Your core investment philosophy is correct and you have shown the ability to act so you will be ok. Don’t be talked out of having your stocks in certificate form.
As a quick reminder please see this GOTS check list from Jim:
1. Your equities are held in certificate form.
2. You have no Federal retirement funds.
3. You have no CDs and investments in bonds.
4. You have modest money deposited among selected BRICs countries.
5. You store your own precious metals.
6. You have no mortgage obligations.
7. You keep cash on hand for 6 months expenses.
8. You have no consumer debt at all.
Jim thanks you for your support and input. If you have any further inquiries feel free to contact me.
Regards,
Peter Mickelberg
Communications Consultant
http://www.jsmineset.com/2013/07/26/jims-mailbox-1322/
www.jsmineset.com.