The three-headed monster. That’s what you get, here at Miles Franklin. You get the commentary from David Schectman, founder; Ranting Andy Hoffman, Marketing Director; and Bill Holter, Cowboy, ex-Wall Street brokerage executive. We all follow the same industry icons (including John Williams, Jim Willie, Bill Murphy, Jim Sinclair, Richard Russell, Eric Sprott, Ted Butler, Gerald Celente and others). But we re-package it in our own styles and with our own beliefs. All three of us have our own “following.” We are all giving you the same message, but presented with a different writing style and flavor. You get a lot of fabulous input here, and the cost to you is only your “time,” not your pocket book.
We hope that after you get to know us, you will at least give us a try to earn your business – as your precious metals broker and friend. You will love our brokers, with their caring and assistance. We are competitive with the “order takers” who sell you product and give you nothing else for your dollars. We give you a lot more, and yet still find a way to be competitive. That’s the way I wanted it when I formed Miles Franklin in 1990. Our business model has never changed. Give the client more than anyone else in pricing, service, education coupled with personal relationships with a small group of the finest brokers in the business. Most of them have been with me since 1983. All of them have at least three years of industry experience, and most have three decades. Remember, it doesn’t cost you any more to have a friend helping you out on the other end of the line. I insist on only hiring the cream of the crop, and I’m not talking about “salesmanship,” I’m talking about an ethical, friendly, caring and educated staff. This is not “fluff,” it’s the truth.
It has been my experience that the people who are the most troubled by the gold and silver takedown are the ones who own the ETFs, GLD and SLV. If these people understood what gold is really all about, and looked at it as “money” and “financial life insurance,” they would not be complaining. But complain they do. In their mind, they are losing money. In our mind, we are being given a unique opportunity to buy, what will soon become the most desired assets of all – gold and silver at a massive discount. Why worry? Take advantage of an illogical situation.
Ted Butler’s most recent newsletter may be one of his best, ever. He asks the question, “Who got the 10 million ounces of gold that left GLD?” Most people assume it went to China. Butler’s digging around led him to a different conclusion. He says it went to JPMorgan! He isn’t saying this is illegal, but there is something grossly wrong with a system that allows JPMorgan and their bullion bank buddies, GS et el, to move the market South with their press releases and shorting practices. After the prices begin to collapse, there was JPMorgan to buy up the “spoils.” As I recall, a decade ago Jim Sinclair said that when the gold market really takes off, the banks that are short gold and silver now (GS and JPM) will be long. It looks like JPM is moving long. If they can unload enough of the silver shorts to the hedge funds, maybe this time they will “allow” gold and silver to rise rapidly, unopposed, which is what we have all been waiting for. If they can’t milk the pull back anymore, they will be the ones long, making more billions off the funds who will be caught in a gigantic short-squeeze. It was just such a short-squeeze that sent Bear Sterns into bankruptcy in 2008 (they were short a reported 40,000 silver contracts and 80,000 gold contracts and their margin call would have been at least $2 billion.) Just remember, all of these short gold and silver contracts will have to be covered on the way back up. The fuel for the next bond-fire is there, waiting for the spark to ignite it.