to the editor from this week's Chronicle
To the Editor
I would like to voice my support for Dave Poxleitner in the upcoming Keuterville Highway District Commissioner election. Dave has worked for the last 19 plus years as our Keuterville Highway District Commissioner building relationships with the surrounding districts to bring about innovative cost-sharing approaches that have helped stretch our budget and maintain our roads. In this time of decreased funding from the Secure Rural Schools and Roads federal funding program, Dave has been effective in securing the much-needed funding from state grants and other sources to fill the void the federal government has created. His experience on the Highway District is an asset to our community and I encourage a yes vote for Dave next Tuesday.
No. 315 - 5/9/2021
No sales pitch here! If someone acts on the information being thrown your way today, you have my guarantee that comments below will not earn me a commission! But years of studying newsletters, our economy, and my own experience compels me to make the the following claims, and later, supply some sample evidence justifying those claims!
Last week's review closed with the simple claim: Coming: "Gold/Silver Explosion" Bluntly claimed here, that "explosion" is inevitable! Read on, and decide if the claim is valid!
Background: 1) I attended a "Foundation for Economics Education" seminar back in the 1960's, where we were introduced to Ludvig von Mises's book dealing with economics, politics, and human decision making! His historically well known book, HUMAN ACTION, made and still makes a compelling case for the theory of economics known today as the AUSTRIAN SCHOOL of ECONOMICS. Essentially the book makes the case, economic decisions are impacted "exclusively from the motivations and actions of individuals." The entire session and claims which followed made complete sense, and have influenced my decisions ever since! 2)Digging into the relationship between good money as a medium of exchange and the health of national economies led inevitably to the conclusion that good money had to be based on valuable metals like gold and silver! Seeing that U.S. money had drifted far from that principal to gobs of printed money, FIAT, my curiosity caused me to begin a careful study of gold and silver's role in economics, primarily silver, because gold was far too expensive for a teacher like myself to be interested in!
2) Consequently, my interest triggered intense study of our money economy, and led me to do two things periodically throughout the following years! 1st) Making statements that an investment in silver (gold too expensive) made much sense, and in the long run, would pay big dividends! 2nd)This conviction caused me to begin putting tiny dabs of my small salary into silver in one way or another!
3) Now, my outrageous claim! I have never been wrong when convinced that a big increase in the price of silver was on the horizon! BUT... GREED killed most of my early investments! My dabbling in the Spokane Silver market back in the 1970's caused me to ignore a significant increase in penny silver stocks, only roughly a 3-1 and even a 4-1 gain, by refusing to sell and ending with a total loss of small amounts of money! My own sons will tell you my advice was "hold for the big gain!” That silver market CLOSED when silver fell out of favor! Result! No return! Then convinced again of a coming price increase, my borrowed $1000 from my local banker for a MARGIN account in silver, netted me a cool $3000 return in a couple of months, silver climbed from $2 to $12 or so. My elation came to a sudden halt when the price continued up to $50 an ounce from $6, spurred on by the Hunt brothers effort to corner the silver market around 1980! My $2000 profit earned in about two months seemed insignificant, compared to the huge profit that would have resulted had my sell decision waited for a couple more months! &*^%$%^&! So the next plunge made used a $5000 personal loan made me by my friend the banker who did not know my purpose at the time when it was a struggle for me to pay monthly bills. That borrowed $5000 for another MARGIN account grew to $65,000 in about a month or so, but when asked by my broker if he should sell because it had dropped 10 cents, I greedily said “NO,” remembering my too early sell decision with the earlier borrowed $1000! But, down it went, and my future was cursed with margin calls and the loss of the original borrowed $5000!
(Stay tuned for The Rest of the Story! And another painful loss due to stupidity!)