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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Best of Jim Cook
OCTOBER 25, 2011
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SILVER FEARS

A business owner always worries about something.  I have two great fears.  The first relates to the price of silver getting too high.  If silver goes to $200 to $300 an ounce it’s possible people will stop buying it.  A lot would depend on economic factors.  If the government stopped spending and the Central Bank stopped printing there would be less interest in silver. 

It’s also possible that silver would stabilize at a much higher price and stop moving up.  That would also kill investor interest in silver.  Perhaps my fear is overdone.   The great silver guru of the 1970’s, Jerome Smith predicted that someday silver would be more valuable than gold as it was in ancient Egypt.

A more pressing fear is availability.  We can no longer get silver products which were once staples of our business.  Morgan silver dollars, Peace dollars, uncirculated Franklin or Kennedy half dollars, Silver Eagle date sets are examples of items we rarely see anymore.  Silver Eagle sales are going through the roof and if the demand overwhelms the  mint we will be hard pressed to find silver to sell.  The only certainty with silver is to have it in your possession or stored in your name at Brinks.  If silver becomes hard to get a lot of paper games will be exposed.

Continue to buy U.S. one-ounce Silver Eagles, 90% silver U.S. coins dated 1964 and prior (they can also dry up) and 10-ounce and 100-ounce pure silver bars.  Thousand ounce bars are available for storage at Brinks. 

If my fear of a silver product shortage comes to pass we still have silver when the small dealers run out.  Because of our high volume we will be the last company to be sold out.  However, the drop in the silver price has revealed an enormous public appetite for tangible silver.  We got a whiff of a potential shortage.  These facts should help you make a decision.