The TDV Wealth Management Crisis Conference (Rio Hato, Buenavista, Panama – February 5th – 9th 2014) is right around the corner. Click the hyperlink and find a way to join us in Panama.
Want to join in the discourse from afar? Send your questions, comments, queries, and concerns to tdv@dollarvigilante.com, comment on a post, or get on the forums.
On to the feedback…
WEARABLE INVESTMENTS
Jewelry, even a 24K jewelry is a poor saving vehicle. This is because the premium you pay for it, is so high. For instance, (and I am not even mentioning the less than 24K crap) the jewelry mentioned in this article cost 25% above the spot. Meaning you will never, ever, get those 25% back.
What jewelry is great for, again, especially 24K jewelry is for cutting your losses. If, say, you need to move at least some of your money out, because you may lose everything if you don't, then you may be glad to only lose 25% !
Speaking of premium losses, the traditional jewelry items may be your best bet, because they could be resold to other family at almost the same price.
So, then how exactly does one ripe the advantages of a wearable item while at the same time experience minimal premium losses?
Bullion and a chain making machine.
Mava
Jeff’s Response:
Thanks for writing, Mava. While 24k jewelry is more expensive than bullion, I do believe it has some benefits bullion does not, as we stated in this article. As you know, at the Dollar Vigilante we push for a diversified portfolio, both in-and-out of the banking system. I feel jewelry is just one way to diversify, and if you take into account your premium paid on bullion and jewelry combined you might find that, after all, it averages out to something more palpable. Also, considering that it is easier to get your gold out of dodge in jewelry form in some cases, the premium may be worth it.
As for the 25% premium and never recouping, I do believe gold will get back up to around $1,600 which would be about a 25% increase over its current price levels. Since as recently as 2011 gold rose to $1,920 per ounce, I do expect gold to return near $2,000 per ounce. (and beyond) In fact, you might not even be able to buy gold with dollars one day soon, and this would include 24k jewelry.
One possible solution to steer around the premium on 24k jewelry is to start buying and selling jewelry yourself. I know the margins are pretty good, and this willl give you a steadily rotating inventory of jewelry which you bought at a price you were willing to pay. Currently, the market is flooded for this type of business, but I think that after the past two years in gold many places might be forced to shut their doors.
TDV is cooking up options to bring to its clients wearable 24k jewelry that is affordable. We've been looking into this project for at least two years. Something to look forward to in 2014.
ON THE “CRISIS CONFERENCE”
"…before he helped others, he went through the process himself." This comment about Michael Ross is what I've also admired most about Jeff. Most of his business ventures are designed to help others do things he's done himself aka putting your money where your mouth is. Some people do like to moan about the self-promotion but personally I'd be suspicious of anyone advising a course of action they hadn't taken themselves.
George
Jeff’s Response:
Thanks for the kind words, George. But to be honest, if I didn't use many of these products and services myself, I'd have no idea if they worked! And if I didn't know whether or not they worked as the CEO of the company, TDV would probably be heading for the history books (i.e. going out of business) So, that I am selling things I am familiar with is a testament to the free market!
Michael Ross has been a great addition to the TDV family, and I am really excited to work with him at the TDV Wealth Management Crisis Conference.
All of the services provided under TDV Media, from TDV Passports to TDV Weath Management, are all products and services I myself have used, so I know they work and I truly believe they are the right thing for individuals and investors during the present time. The company is really just a reflection of my opinion that the world is our oyster! We don't have to be bound by nations. Even if we believe governments are good (which they are not), that's no reason to stay married to one particular government your whole life. There is too much to experience, too much to learn, and to short a time to do it all!
ON LEGALLY INTERNATIONALIZING ASSETS
Even more disturbing is that Mr. Warner's tax forgiveness/amnesty request was denied because unbeknownst to Mr. Warner he was already under investigation. That being said think of all the others who voluntarily came clean because of all the hype of the program and then they were also denied because they were "supposedly" already under investigation. I'm assuming nobody is auditing the auditor to make sure that the volunteers trying to come clean (whatever the word clean is supposed to mean but you get my drift as words are a mere way of attempting to communicate) were "indeed" under investigation or just a fail safe excuse to penalize those that did try to come forward to the highest degree possible. Just saying and something to think about. The excuse of already being under investigation could have been used for every single person trying to come forward. Think about it. A typical bait and switch tactic by another alphabet agency.
Debt Slave
Jeff’s Response:
Debt Slave – You're absolutely right in thinking that the US government is not to be trusted. (or any government for that matter) Although Mr. Warner was already being investigated, I wonder where much of the evidence was coming from. It could very likely be that the case brought against him – that he turned himself in, and thus a case was born – is merely parallel construction in which certain (legal) evidence is given to make the state's case and some (illegal) evidence is held back. What might be have been held back, in Mr. Warner's tax case, is how they truly came to know of Warner's overseas fortune…
Bitcoin
You guys write an awful lot about bitcoin these days. I think there is all sorts of evidence that bitcoin is a plot by the powers that be to bring in a digital currency regime. I just read that JP Morgan predicted the demise of bitcoin – that is a very surprising thing to say as it could put the banks reputation at risk if they're wrong. So they must have some insider info. Plus, now we know with all what's going on at the NSA that the internet is not private. Bitcoin is very new and it is highly risky.
-Keith
Justin's Response:
Interesting concerns, Keith. The Dollar Vigilante team has been getting a lot of e-mails like this from readers who express concern over bitcoin, which makes sense. Once upon a time a wise-man told me that all change is stressful, even good change! I consider bitcoin good change, but nonetheless it is change, and therefore stressful. The people who will most likely find this period most stressful are the ones who did not grow up in a digital sea.
As far as JP Morgan predicting the demise of bitcoin…I don't really see your point. JP Morgan is stooped in the old model. Think about it this way. When there is a scientific 'paradigm shift' within a particular field of science, oftentimes the new truth is not adopted right away. In fact, it takes time because the older scientists, who had more stake in the older system, must first die off for remaining tensions over the new truth to diminish. We're in that in-between period now.
As for the internet not being private or secure – it never was. It's called the world wide "web" for a reason. I expect an arm's race of decentralized and distributed networks to start coloring in the lines of a new, future internet. Jeff Berwick and I have been working on a Bitcoin Report for TDV for a number of months. The space moves so quickly, the text has been outdated at least three times now. Stay tuned for that in the coming weeks.
