It’s my opinion that while your money may be earning a bit of income via your local bank interest rate, you would probably be better off buying precious metals if you are going to prison. An investment of any size before you go to prison might be worthwhile, especially if its gold, and here’s why…
If you are going to prison, chuck your currency and buy gold and silver
So, you are going to prison or jail and you may have a few months or even a few years “on vacation”, it might pay off when you come home to have your investment rise considerably faster than what your bank may be offering. If you recall what I wrote in my book (How To Survive in Prison or Jail) about your assets (intangible and otherwise) prior to going to prison you will probably be better off when you land in the world.
Going to Prison for a few years may make you money?
Have a look at gold prices from only a year ago, roughly $1400 USD per ounce. Now look at the price of gold from two years ago… approximately $1100 per ounce. Now then, look at the price of gold today (12/6/2011) at COMEX close: $1727.90 per ounce. Amazing increase and silver is doing somewhat the same dance.
Gold price chart provided by GoldPrice.org
Seeing these numbers now boggles the mind. The “what if” scenario starts creeping into my thoughts. When I opted to bet my fortune, albeit small, on an interest bearing savings account I could have very easily purchased gold and had my parents hold it for me. Then again this was a few years back and gold prices weren’t exactly screaming at anyone to take notice. Well they are now. After reading Grant Halls new book on Banking Privately, one might consider that since the US dollar is dipping (nicely put) precious metal prices are on the rise.
As I was being paroled and I met and counseled briefly with a convicted low-level drug dealer who was in-processing and I joked with him about all the cash drug dealers make and his answer was astonishing, even back then. He claimed not to buy cars and houses, he rented those – this guy had purchased gold, diamonds and of course jewelry and placed it in a bank vault. Amazing foresight from a guy who knew when he was caught he wouldn’t see a city street for at least 7 years.
Take a look around you. Do you notice all the places springing up who will buy “unwanted” gold or even broken gold jewelry? Hundreds of storefronts and hundreds more websites are springing up all over. This should be the first clue something is happening in the market.
If you are going to prison or jail for a little while, certainly get the help you need while on the inside. But make doubly sure you have a cushion for when you get out – and precious metals may be the answer. You not only have to survive your prison time, you have to plan for it.
Disclaimer here: We are not financial advisors nor do we know of any loophole, strategy or other means to forecast the rising cost of precious metals. This dear friend, is our opinion. We suggest you seek a true professional financial analyst to help you wade through the muck of it all.