Ads promoting gold rule the airwaves, offering gold as the greatest investment, the location to be in these times of financial and economic mistrust. Although it is true that gold has been valued in all cultures for some 6,000 years, will the respondents receive the benefits that the advertisements promise for the american gold reserve? Most likely not.
The majority of the firms financing the ads endorse gold coins at grossly inflated prices. One business freely accepts marking up their own gold bullion coins 30 percent but at times has markups of seventy percent. Another company have been known to markup its coins one hundred percent.
Exactly how is it that these firms can possibly convince investors of the american gold reserve to invest in at such inflated prices when the normal markup on gold bullion coins is actually 2 percent to 7 %, depending on the coins and the quantities? Several factors become very important.
First, the ads are based on fear, and the telemarketers reinforce that fear by talking about alarming topics that dominate the news, such as the decreasing dollar, the burgeoning national debt and massive deficit spending. The possibility of conflict with Iran is often used to scare clients.
By focusing on frightful topics, the telemarketers get callers to react on an emotional level, instead of logically. Instead of buying gold as an investment, callers are moved toward buying protection against Armageddon.
In 1933, in the middle of the Great Depression, by executive order President Roosevelt made it unlawful for People in the USA to own gold bullion or gold bullion coins. The order remained until December 31, 1974. Telemarketers call Roosevelt's act a "confiscation," but in reality it was a "call-in" of US gold coins of the american gold reserve.
Americans turning in their own gold coins were given US paper currency of equivalent face value. Nevertheless, Roosevelt's "call-in" was a dark moment in American history, and it haunts the gold industry to this day. In the back of the mind of the most optimistic gold investor lies the fear that someday the government may again call in gold "if things get bad enough." The next time you're thinking of buying Gold and Silver just make sure to do your research.
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