Moneyweek article, The end of Britain, Economic collapse

[BDG]

(8 January 2013, 15:25)Scythe13 Wrote: Now I know you're joking about that. Warren Buffet famously said "Wall Street is the only place where people take a limo to get financial advice from someone that caught the subway."

The 'smart' money is in Precious Metals. The richest people on earth (not some guy you know that makes £100K a year, but the RICHEST people on earth) have been on about PM's for a while. Most of the world's mighty wealthy are not recognised as having financial planners. Tax advisers, tax lawyers, and the alike....yes. Financial planners? Rarely (I can't think of any off the top of my head, but I don't know everything so that doesn't mean none have FP's). I can think of many VERY rich people who have said the only reason they're not in precious metals is because they can build businesses that will beat the investment increases offered by PM's. Having said that, even Donald Trump is checking the PM route.

Considering the Buffet took collection for hundreds (possibly thousands, but I can't remember) of tones of Silver a few years back, I hate to disagree that they're putting money into precious metals. Trump is on the PM's. Kiyosaki is big with the PM's. Secker..PMing it up! Even Bill Gates has checked that baby and smiled at it. Soros.....PMing it bit time. Carlos Slim.....you guessed it.

Interesting that you mentioned a slump. In times of financial slump, PM's are at their highest. Seems like the smart money is already checking that route and expecting the inevitable.

LOL @ £100K a year. I am not talking about some insurance salesman.

A tax lawyer and an accountant are financial planners, for they help to get the best return for their clients. They employ the services of fun managers - sure, they play different markets themselves, but only with what they know they can afford to lose - they have someone else behind the scenes managing a lot more than that.

Now, think of you, the average man in the street or a prepper who buys metals. The % of their cash invested in metals is much higher than the big fellas.

Your average man in the street is more vulnerable to market fluctuation do to the smaller amount of other investments.

And the slump I mentioned is the slump that will come in metal prices when the markets are flooded with metals when countries who are heavily export dependant on exports are exporting a lot less.

Never ever think land is going to go down in price. I will stand you anything that over any two year period, the cost of land will not fall - it is always going to increase, at least for mine and your lifetimes unless we are in such a situation where private contracts cannot be enforced.

Potatoes have had a bigger % increase than gold this last three months.