Downsides to precious metals?

[WEE]

The elderly have always been a soft target for various kinds of scams. Precious metals, stocks, real estate, annuities. The list goes on and on. Anyone remember California City? My in laws bought into that scam in the 1960's. When my father in law passed, his wife gave her preacher $10K for investment in a mutual fund. Yeah, the preacher disappeared suddenly with all the cash after getting several church members to buy into this scam.
Knowledge is power. If you don't fully understand what you are "investing" in, keep your money. Unfortunately, many of the elderly have diminished mental capacity and are thus are easily convinced and vulnerable. There is no such thing as a "can't miss" investment or get rich quick outlet.
My honest opinion is the Lord will have the final judgement on these scammers.

 

[gmerkt]

The elderly have always been a soft target for various kinds of scams. Precious metals, stocks, real estate, annuities.

How can you go wrong with William Devane pitching gold and Tom Selleck pitching reverse mortgages??

It hasn't escaped me that the market focus for some of this stuff is concentrated on local broadcast TV stations (that also come through on cable) where the elderly spend time watching 1950-70's re-runs.. If I never see another commercial for walk-in bathtubs, it will be just fine.

 

[bumpus]

Well, when tshtf and the lights go out and the economy is wiped out, try going to somebody and trading a bitcoin for some eggs, or a stock certificate, or a wad of toilet paper currency...