-- Published: Wednesday, 23 September 2015 | Print | Disqus
By Michael J. Kosares
The note came by e-mail just after the dinner hour. Three simple words: “Are you worried?” No, it wasn’t bait posted to my mailbox to get me to open it. It was a note from an old friend and client of the firm who over the years has been very insightful – an individual who used to post his observations occasionally at our old forum page and was highly respected among that formidable group.
So, I think to myself, what is this all about? The following morning, I send back a cautious query of my own:
“About the supply running out? Not sure what you are asking.”
The shortage in both gold and silver happens to be the issue that sits atop the minds of most precious metals’ investors these days. The supply running out, from our perspective, would not be good for business (to say the least) and that is why we keep a strong inventory of our clientele’s favorite items and are constantly replenishing our supply lines. Hence, he knows that this might be a source of concern.
Almost 24-hours later a response comes back:
“I was never worried about Y2K though I thought there was a reasonable probability we’d have a few issues. I never bought an ounce of gold because of that. I bought then and I buy now because of the reasoned and sensible approach to ownership you ascribe to. However when I look at the whole playing field and consider the shaky foundation upon which the social, political and economic framework of our society rests, personally, I am worried. Actually at this juncture I am very worried.
Will be in touch soon. Probably buy more.
Take care, CKM”
His reference to the turn of the century is not idle chatter. Many, including myself, have likened current conditions to that time frame, not so much as it relates to the concerns about the computer-related date switchover in 2000, but to the early years of gold’s bull market when the true-believers were loading-up (just as they are loading up now). It was a time when gold was taking a beating in the mainstream financial media, stocks were being glorified, and everyone was talking about the Goldilocks economy (not too hot, not too cold, just right). That was just before the roof caved in. . . . . . . . . .and gold began its long ascent.
I wrote back:
“CKM, I consider your e-mail one of the best interpretations of the present situation I have seen. While reading it, I felt myself back in 2002 talking online with our posting friends and reflecting upon issues of fundamental importance to all of us. It was a time when a good many of us thought the internet might suddenly disappear like a comforting dream . . . . Those were the days. . . Would you give me permission to repost it at our blog? Requested with a smile and an element of admiration for the insight. . . Thank you, old friend. . . . MK
P.S. Needless to say, I will protect your identity.”
To which I received back permission and this:
“I remember those good old days. We were all right then as we are now. The continuum of life is a very long game. We are at a critical intersect along the horizontal/linear axis.”
And I replied:
“Indeed, we are.”http://www.usagold.com/
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-- Published: Wednesday, 23 September 2015 | E-Mail | Print | Source: GoldSeek.com