KMS
Big Eyed Bug
A little back ground first.
My father is a working stiff and I wasn't raised on a silver spoon. Same situation applies today. I'm a working stiff and my girlfriend's kids aren't being raised on a silver spoon.
A long time ago, my father set some $$ aside for me for a nest egg. Whatever I needed it for, it would be there for me. My mother, (they were divorced by then), answered with the same amount, in my name, to be viewed well in the eyes of the court system due to a custody battle. After the fight was over, and my mother lost the fight for my custody, she made me sit down at a bank and sign all of that money back over to her. It was 28 $500 bonds or T-Bills or whatever they were, so $14k. I've never seen that money since, and it is obviously no longer even in the picture of my life. I maintain a relationship with my mother, and money just isn't something we talk about.
However, my father's contribution has appreciated well enough over the years, and he wasn't a thieving Indian giver, so it is still invested for me. I do not know how much it is worth today. I know that is has survived the market crashes since my childhood. It was enough for a college education more or less, and intended for that, but I went and earned my own education money through military service and the G.I. Bill.
Since I don't need the money for school, it basically has become a trust with little purpose other than to grow, or buy a new house when I outgrow this one... I'm really not sure what I would do with it at this point is what I guess I'm trying to say. At this point in my life, I have been and continue to be a completely self made person. My father was the type of man that made me go out and do work to earn everything I've had in life. Everything from my first Nintendo, to my first car, to my first home, etc. Nothing has been given.
The 'trust', while rather small in comparison to what most might consider a trust fund, is still basically tied up in stock. Since we're nearing a point in the market that it has rebounded from the 2007-2009 shit, and from last year, but I'm concerned about the European issue, like everyone else most likely is. I need to convince him that selling, or at least diversifying before the next and bigger correction is not only necessary, but imminent.
Well, for the better part of 9 months I have been passing along informative articles to my father about LTRO, QE, inflation, Europe, gold, and silver, etc. Today we were talking, and as always, I asked him if he'd read the email and attachments and links I had given him. He said he had, but the bulk of our conversation mostly consisted of trying to spell out how inflation is something that will never go away, and how it will only get worse due to current policy. He tried to make the same fatherly point that I'm used to him making that, the game is written by TPTB, and we gotta play by their rules, there isn't much we can do about it, and if I know a way to profit from the current rules, I should try to do it.
I tried to explain to him that yield shouldn't be the driving force of what we do with 100% of our money. Mind you, he's 63 and a product of 'buy and hold'. He never once told me that as a kid that silver or gold were worthwhile investments, and to this day he says things like, "You don't want to buy that." (Verbatim)
Now, I cannot argue with him that buying and holding a smart stock purchase 30 years ago would have been the wrong call, but he just doesn't seem warm to the idea of the benefit of a gold or silver purchase, even though I told him I'd made 30% just from silver this year alone. The hardest part is that he has no interest in hearing about collapse of anything, because he's been hearing the same shit since 1950 etc. He just doesn't give it any merit. Doom and gloom has been around for decades. He grew up hearing about 'how it was' from his parents etc. So how do I try and help him see that the dollar's future is a BIG unknown, and that buying some PM's NOW is much better than paying HIGH dollar down the road?
Man there is just so much to say about this, and I feel like I've really put a lot out there already. I know the personal info is more or less just details, but the main question stands.
How do you convince a product of the biggest economic boom in American history to lose a little faith in it all, and to buy some PM's?
Thanks all!
P.S. My father didn't consider a food storage of mine a 'tangible asset'. He thinks a tangible asset is something that should make me money.
My father is a working stiff and I wasn't raised on a silver spoon. Same situation applies today. I'm a working stiff and my girlfriend's kids aren't being raised on a silver spoon.
A long time ago, my father set some $$ aside for me for a nest egg. Whatever I needed it for, it would be there for me. My mother, (they were divorced by then), answered with the same amount, in my name, to be viewed well in the eyes of the court system due to a custody battle. After the fight was over, and my mother lost the fight for my custody, she made me sit down at a bank and sign all of that money back over to her. It was 28 $500 bonds or T-Bills or whatever they were, so $14k. I've never seen that money since, and it is obviously no longer even in the picture of my life. I maintain a relationship with my mother, and money just isn't something we talk about.
However, my father's contribution has appreciated well enough over the years, and he wasn't a thieving Indian giver, so it is still invested for me. I do not know how much it is worth today. I know that is has survived the market crashes since my childhood. It was enough for a college education more or less, and intended for that, but I went and earned my own education money through military service and the G.I. Bill.
Since I don't need the money for school, it basically has become a trust with little purpose other than to grow, or buy a new house when I outgrow this one... I'm really not sure what I would do with it at this point is what I guess I'm trying to say. At this point in my life, I have been and continue to be a completely self made person. My father was the type of man that made me go out and do work to earn everything I've had in life. Everything from my first Nintendo, to my first car, to my first home, etc. Nothing has been given.
The 'trust', while rather small in comparison to what most might consider a trust fund, is still basically tied up in stock. Since we're nearing a point in the market that it has rebounded from the 2007-2009 shit, and from last year, but I'm concerned about the European issue, like everyone else most likely is. I need to convince him that selling, or at least diversifying before the next and bigger correction is not only necessary, but imminent.
Well, for the better part of 9 months I have been passing along informative articles to my father about LTRO, QE, inflation, Europe, gold, and silver, etc. Today we were talking, and as always, I asked him if he'd read the email and attachments and links I had given him. He said he had, but the bulk of our conversation mostly consisted of trying to spell out how inflation is something that will never go away, and how it will only get worse due to current policy. He tried to make the same fatherly point that I'm used to him making that, the game is written by TPTB, and we gotta play by their rules, there isn't much we can do about it, and if I know a way to profit from the current rules, I should try to do it.
I tried to explain to him that yield shouldn't be the driving force of what we do with 100% of our money. Mind you, he's 63 and a product of 'buy and hold'. He never once told me that as a kid that silver or gold were worthwhile investments, and to this day he says things like, "You don't want to buy that." (Verbatim)
Now, I cannot argue with him that buying and holding a smart stock purchase 30 years ago would have been the wrong call, but he just doesn't seem warm to the idea of the benefit of a gold or silver purchase, even though I told him I'd made 30% just from silver this year alone. The hardest part is that he has no interest in hearing about collapse of anything, because he's been hearing the same shit since 1950 etc. He just doesn't give it any merit. Doom and gloom has been around for decades. He grew up hearing about 'how it was' from his parents etc. So how do I try and help him see that the dollar's future is a BIG unknown, and that buying some PM's NOW is much better than paying HIGH dollar down the road?
Man there is just so much to say about this, and I feel like I've really put a lot out there already. I know the personal info is more or less just details, but the main question stands.
How do you convince a product of the biggest economic boom in American history to lose a little faith in it all, and to buy some PM's?
Thanks all!
P.S. My father didn't consider a food storage of mine a 'tangible asset'. He thinks a tangible asset is something that should make me money.
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