This is disturbing to me. In the last year or so, six people I know, all of them in their 60s came to me looking to borrow money. All of them, at one point or another, have earned a lot of money. I am tempted to ask, “What the hell is going on?” but I know what is going on. The middle class is being decimated. The standard of living, for most people, is rapidly on the decline. For those of you who want me to be more up beat, maybe you can step forward and loan these people some money? If it is this way NOW, can you imagine how it will be when the $#%! hits the fan? Those of you who are blessed to have money, you will be the ones that your friends and family come to for help. What will you say?
Having been ahead of the curve, been smart enough to save and invest well can or will be a “curse,” when those around you, those who you care for, come knocking on your door for a loan. My advice – if you do give money to friends or family, do it with the expectation of never getting it back. If you can’t do that, don’t get involved. The minute you ask for your “loan” back, you will be the bad guy. And once you start, you will be the “bank” or source of money that they will keep coming back to.
Tell em “I ain’t got no cash, just gold and silver and I am not selling it now.” I wish I was strong enough to say that, but I’m a pushover and just wrote out the check(s).
The rise in the price of gold and silver are merely the “symptom” of things gone badly. And they will get much, much worse. Just because you avoided the storm doesn’t mean you won’t have problems. The one I mention above, which is not really a problem, but it is a reality many of you will have to face. As I do, even now.