Continuing an article by JS Kim, investment consultant and founder of the consulting firm SmartKnowledgeU, in which he talks about the machinations in the market of precious metals by banks to curb rising prices for gold and silver. The first part of the article can be read HERE.
I have often heard criticism against Eric Sprott and James Turck for their relationship to silver and gold, respectively. They are often reproached for praising gold and silver for people to buy their books. However, I think that criticism is unfair. I don’t think they’re so optimistic about gold and silver just to sell their books. On the contrary, I am confident that their optimism about the future returns of investors in gold and silver is associated with a deeper understanding of the precious metals market than the average retail investor or most uneducated investment advisers.
Also, over the last decade I have been a passionate advocate of investing in gold and silver. At the same time, I have never been a trader selling gold and silver, I have never received commissions for the sale of shares of gold mining companies, and I have never advertised to gold mining companies on their shipments, even though they asked me to.
To illustrate the level of misunderstanding that still exists about the price of gold and silver, I quoted from one of the investment tips he received to my email address on August 16, 2008: “Gold, a barbaric relic, is another good investment option … But in the last six years, gold has gone from $ 300 to $ 900 an ounce, so it s too late to enter. ” This consultant recommended the purchase of government bonds, considering them as a good investment in the coming years. From August 16, 2008 until recently, the S&P 500 stock index lost 2.92%, while gold rose 111.33% and silver 284.47%. And where is the good investment here? Investment advisers offer their clients to invest in securities, because this is their “bread”. This is the main reason for your advice. It would be better if they recommended investing in really good investments: precious metals.