Loading ...Ipso, I think you are probably right, they have gone to a better place….but why have new younger investors not stepped up to the plate to take their place?
Goldie, Looks like most people can no longer even afford proper groceries, let along save and invest for their future. Credit card defaults are setting all time records.
When I first became interested in PM’s I was able to buy physical gold for $350 per Troy Ounce in year 2000 at CDN par with the US, and for an ounce of silver I paid $5.50 at Northwest Territorial Mint, again at par.
Now in Canada, after this terrible “beating” PM’s have taken, I would have to pay a 40% currency premium over the US price to buy PM’s in Canada…so an ounce of gold would cost me about $6000 CDN, and and ounce of silver about $90 CDN.
The mantra is that PM’s don’t pay any interest so it’s stupid to buy phyz. Better to buy the Miner shares instead. That may have been true before on-line Brokers and Personal Computers and ETF’s and Derivatives took over the stock market. IMO that big change took place between 2008 and 2011 when I took out over a $million of OPM and added to my original Phyz “stash”.
But I never relied on my investments to support me. I’ve had success in Real Estate, Consumer Finance, and Life Insurance. I “retired” at age 33 when I made a total lifestyle change; Moved to Canada, built log homes, then built a large cattle ranch, contracted for the Regional Districts and Forestry….and mainly just enjoyed a stress-free life. My most used sayings are “Anything works if you do, but nothing works if you don’t”. ….and “The harder I work, the luckier I get”. and “Don’t just think about it, do it, do it , do it!”
Now my wife and I volunteer our time helping at an Organic mixed farm of fruits and vegetables, and I also help on a friends cattle ranch….just to stay productive and active.
That’s why my life and success have been Silver and Gold! Best Wishes to All! Life has been BEAUTIFUL! SNG