Re: Crisis Simulation – “Is There A Doctor In the House?”
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Opinions on talking to them about why buying gold is a good thing. In simple terms please . As you know we are laid back God respecting people . They are not going to listen to anyone talking down to them.
I don’t know how I’d talk to a farmer-type about gold or silver. My mom’s family have been farmers from Iowa for generations and so of course weathered the Depression. I have no idea whether it’s true or not, but persistent familial rumors say that my grandfather (who died in the 90s) had buried old coffee cans with gold/silver coins in them at spots around the farm as a rainy day fund (protect against bank failure, etc.). If he did, he failed to enlighten anybody as to where they were before he died. (And with 500 acres of space to choose from, it’s not like a metal detector and a shovel’s gonna find it.)
So this isn’t a buried treasure story so much as a story about one Iowa farmer who bought/held gold as a hedge. If he was doing it no doubt some of his peers were too. Talking to farmers about PMs might not be as hard as you think. They remember (or have parents/grandparents who did) banks dropping like flies in the 30s.
When I mention PMs to my peers, I talk about those 1930s bank failures. When they look at me as if I have 3 heads and say “but that’s not gonna happen *now*…” I just ask them if they know (x) banks failed this past Friday. X=3 yesterday (11/13/09…or for you Kiwis et al. out there, 13/11/09 ). That gets them thinking. (Ongoing list of failed banks can be found at http://www.fdic.gov/bank/individual/failed/banklist.html)
VIVA! — Sager