Tuesday, September 3, 2019

Keep savings safe as gold (video)

Pat Macpherson, S.Auberon, Pfc. Sandoval, Wisdom Quarterly; Money Metals; ITM Trading
I'm taking my gold bullion, shaping it into a Buddha, putting it in a safe (tricycle.org).
What is the price of gold today? One ounce is going for $1,527 or so (depending).

Samantabadra in yab yum
The Buddha's advice on money is found in the Sigalovada Sutra and says one should take one's money and split it into four equal parts: 1) spend and enjoy, 2) pay off debts (bills, loans, etc.), 3) restock inventory, 4) put away as savings.
  1. Spend on wants.
  2. Spend on business needs.*
  3. Spend on producing more wealth.
  4. Save for times of need.
  • *Inventory, paying employees, advertising, taxes, insurance, and so on.
The only better investment is good karma.
To preserve money it's not enough to store fiat currency (faith money like greenbacks) in the mattress and coffee can. It takes an investment in something that is not affected by inflation and deflation. Gold never loses its value for long, and it not infrequently climbs in value to earn more money than it cost to buy it in the first place.

Do not accept paper notes that say someone else is holding the gold (metal). Get the metal. This may mean investment in coins, which are a ripoff because the minting eats up part of the value. Krugerrands are better. Progressive loudmouth Thom Hartmann says he prefers ITM Trading for stowing away his troy ounces of gold... Better than gold is merit (profitable wholesome karma) that ripens in the future.

Gold: Not Just for Right-Wingers!
  • (Mother Jones, May 2010) ...Thom Hartmann have both endorsed ITM Trading, an Arizona company that, like Goldline, pushes [overpriced] gold coins as “the best way..."

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