This afternoon, my wife Susan received a phone call from Dublin Rarities. The salesman introduced himself to Susan and proceeded to try and sell her rare coins. Susan said, “Do you know who you are talking to? My husband owns Miles Franklin.” The salesman replied, “They’re crooks.” Then he hung up. I tell you, there are so many scumbags in our un-regulated industry. If you want to see what these kind of companies are all about, check out their websites. You need to own gold and silver, but please be careful whom you deal with. This truly is a “buyer-beware” marketplace.
We always tell our clients to do their due diligence. Check out companies on the Better Business Bureau website. Miles Franklin has maintained it’s A+ rating and has zero complaints registered with the BBB.
Living just north of Miami, maybe 15 miles or so, this video hits close to home. It also makes a mockery of some of the following comments from Backwoods Jack, who accuses me of bringing up the possibility of civil unrest, here in the US. Check out the video and continue reading about the latest Backwoods Jack saga.
January 28, 2013, at 8:04 pm
by Jim Sinclair
Jim Sinclair’s Commentary
A training exercise between the Miami Police, and attack military helicopter using live fire. Now exactly what enemy are they planning to kill in Miami, those damn conservative Snowbirds?
Backwoods Jack is back – and more out of touch than ever. Out of the blue, after reading my Friday newsletter, featuring some wonderful advice by Jim Sinclair, Backwoods sent me the following email:
Had dinner last evening with a friend, Chairman of the Board of one of the largest banks in the U.S. He says the next 18 months will show steady growth in our economy and your doom and gloom forecasts are invalidated. The Dow Jones will continue to grow whereas, my son, Backwoods III, claims, as does everyone else in finance, that Richard Russell’s 20-year prediction that the DJA and Gold will someday be1/1 is laughable. “Someday” is the annual “pushback,” that your gold contemporaries feed upon. Why hasn’t gold soared as predicted for years, with turmoil in the Mideast? The classic answer for years has been “manipulation,” but no boards of inquiry have proven this to be true. I fear you are being led down the wrong path. Other forces will cause a rise in gold and silver without the “manipulation” factor.” He followed it up with, “My son Backwoods III is not opposed to gold and silver at all. He’s opposed to all the gloom and doom forecasting continually for the past ten years and yet strangely, collapse has not occurred. Thus, it seems to be a phony scare tactic to promote sales, which he and most others in his financial world regard as laughable. He has around 50 brokers in every major city in the US and is continually in contact with them. Of course there will be riots like east St. Louis, for example, and probably in other cities as well, when entitlements are cut back, but empty food shelves, no gas or water, or electricity falls under the category of “fear mongering” As your friend, I urge you not to believe all the “BS” that you read.
Why do I bother to reprint this line of thinking? Because Backwoods is the essence of the way most mainstream-informed American’s think. I foolishly took it upon myself, as a friend, to “educate” him so he could understand what is occurring and where we are headed. I have sent him so much information, over a decade, populated with honest real-world facts from the Richard Russells, Jim Sinclairs and John Williams of the world – not to mention my newsletter, that it could fill up his office library. On a personal level, for two years I managed his portfolio and made him over $2.5 million! Then he sold it all and decided to take the advice of others. It didn’t exactly work out too well.
Why do people like Backwoods delight in attacking the voices that are trying to help them? They gloat over the fact that the economy has not collapsed (yet) and shortages, riots and hyperinflation have been held at bay, and conclude that therefore we are terribly mis-guided. Now it would be one thing if Backwoods was stupid, which he is not, or if he wasn’t exposed to our side of the story, but he has been for over 10-years. He made a great deal of money following my advice and has witnessed, first hand, how accurate my views have been. But he continues to “put words in my mouth,” to attribute time-lines to doom that I have never made, and is certain that the views he solicits from main street bankers and his Ivy League educated and Wall Street nurtured son feed him are correct – and I have a screw loose. Being well past the point of “Political Correctness,” I told him, “I don’t give a good @#$%! what you son thinks!” Of course he disagrees with what WE believe. He sells dollar-denominated investments. He says we promote fear to make a sale. Fact is, he promotes pie in the sky and dollar stability to sell his products! Talk about the pot calling the kettle black!
I should just ignore it, and as Mr. T says, “Pity The Fool,” but I can’t help but take these comments very personally. He insults me, and those I revere and tries to soften it with, “As your friend I fear you are being mis-led.” Funny, that’s exactly how I feel about him. One day he calls me and admits “You’ve been right.” He is correct. Yes I have! The next day I get more of the kind of crap he sent to me the other night. This was just one-time-too-many and I told him I’m done! I will no longer send you ANY financial information. In fact, I told my editor to take his name off of our mailing list. I’m wasting my time on someone who will never be open minded nor accept the facts! And that can be said for most of the people we know. We can preach to the choir but it just doesn’t work when we try and educate newbies. Friends, family, and acquaintances – most of them think we have a screw lose, or as Backwoods often says, we are just “wingnuts.” I bet that was said about The Boy Who Cried Wolf too. I understand – Backwoods came from an ultra-rich, conservative mainstream background. These people will never come around. Good luck Jack, you’re absolutely gonna need it, and please don’t come crying back to me saying, “You were right.” From now on, you are on your own.
PS: If I’m wrong and go down with the ship, it will be with a big heavy bag full of gold and silver! But I won’t be wrong, and as Jim Sinclair said:
Gold will trade at and above $3500 and no manipulator, private or public, can stop it. Gold is not for the weak, but then the weak will not survive this crisis in Western finance trying to be hidden from view with every possible public relations weapon.
For all the bears communicating with me tonight, you are totally wasting your time.
And that especially applies, in my case, to still-my-friend, Backwoods Jack, even though he makes a habit of insulting me!