so...in my constant pursuit of trying to make a buck (or in this case preserve my purchasing power), i had what i thought was a great idea. i'd heard some banks were offering loans, and would take gold as collateral. i figured i could use such a loan to buy even more gold. as long as the price of gold (in dollars) went up more than the interest rate on the loan, i'd come out ahead (or lose less money than simply holding dollars). the whole idea is rather complicated though so i figured i'd get some advice from a professional.
i believe i've mentioned the peter schiff show in my blogs before. if i haven't, i'd encourage people to check it out here. anyway, i called the hotline and managed to get on the air! how crazy is that? if you hit up the webpage today or tomorrow, you can download the show (9 feb) for free. if you can't make that timeframe and are interested, shoot me an email and i can find a way to get a copy to you. i come on around minute 34-35 if you don't feel like listening to the full hour 20. he has a good show though, so i certainly wouldn't discourage anyone from taking some time to listen to the full thing. i listen on a regular basis and find it to be an excellent source for investment advice.
speaking of gold, i've been doing research how people can invest in the shiny metal. i've discovered the good deals are often out of reach for common folk. many of the local dealers will charge over 10% above spot for an ounce coin, and don't even get me started on the big companies that throw their adds all over tv. i happen to buy my gold in large enough quantities and from the right dealer to get a decent rate. if any of you out there are looking to preserve your purchasing power by investing in gold bullion, give me ring or shoot me an email and we'll work something out. i'm not a business so i don't have to turn a profit; as long as i break even, i'm happy.
anyway, i've gotta run. laterz.
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