“So many businesses feel that their ideal customer is anyone who wants to, or can afford to, give them their money. I would argue this is faulty thinking. I regularly turned down potential clients who could have and would have paid our fees. I also declined to do further business with a client who proved to be someone who did not fit my definition of an ideal client. And I had a very specific list of criteria as to who an ideal client was.” Sidney Biddle Barrows, Uncensored Sales Strategies

Not only is gold a superior form of money, it’s also not under the control of any central bank or group of individuals. Yes, miners control new output, but annual output is only about 1.8% of all the above-ground gold in the world. (by Jim Rickards)

The value of gold is determined not by new output, but by the above-ground supply, which is 190,000 metric tonnes. Most of that above-ground supply is either owned by central banks and finance ministries (about 34,000 metric tonnes) or is held privately either as jewelry (“wearable wealth”) or bullion (coins and bars). Clearly gold is […]

Banquo’s Ghost and Gold

Gold reserve requirements on the U.S. money supply were ended in 1968 and the ability of foreign trading partners to convert U.S. dollars to gold at a fixed price was ended in 1971. Ever since then, central bankers in general and the Fed in particular have banished gold from the conversation and insisted that if you […]