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Journey to Bullion – A client testimony

One of our clients has shared their journey to investing physical silver bullion bars, gold bars and coins. We’re sure it’s a journey many of you are familiar with or maybe you’re at the cusp of a new investment strategy journey.

We’ve hidden his identity for privacy reasons; in our clients own words…

I was made redundant in early 2009. I worked in sales and account management for a direct marketing company when all of a sudden, some of the team were given our marching orders. We had to leave the same day we were given notice. It wasn’t because of anything we had or hadn’t done. Actually, management had received confirmation that a couple of our largest accounts were reducing their marketing spend significantly. The timing couldn’t have been worse as we recently moved into a new premises at least 3 times the size of our last site. Management said it was because of the GFC. I thought, “What’s a GFC?”

Thankfully, I promptly found a new job within a few weeks. Needless to say I did some research on the internet and tried to understand the cause of the GFC. I came across a couple of alternative news sites that went into great depth explaining that the cause was the Federal Reserve in the U.S. convinced congress to let taxpayers bail them out as they had run out of money.

I learned that since the 1990s, and in particular, since the repeal of the Glass-Steagall Act, the new trajectory had allowed central banks to speculate with their depositors’ money. In essence the Glass–Steagall legislation allowed the separation of commercial and investment banking. This had been reversed. Australia also does not have a separation of commercial and investment banking, so I now understand that money in my bank account is not actually mine.
Fortunately, I stumbled upon the works of Mike Maloney who owns goldsilver.com and who produced some excellent videos explaining the financial crisis that occurred. He was among many that warned that the bank bail outs would not work and that we should expect GFC Mark 2.

Maloney guested on RT’s Keiser Report and that interview was enough to convince me that I had to hedge some of my portfolio in a different direction, which was gold and silver. I initially started off with a couple of 1kg bars of silver and a couple of ounces of gold. The experience was good and I paid cash and collected my metals on the spot.

I kept going back and realised that I wanted to obtain more, lots more. Storage would become an issue as I didn’t want to keep them at home anymore. And so began the search for secure storage. In my research I learned that I should avoid any counter party risk when it came to storage. After going to the length of getting physical metals (not the paper contracts of GLD or SLV from the stock market), the last thing I wanted to do was hand them over to someone who would give me a certificate or a claim check on physical metal that I owned.

I came across Guardian Vaults and quickly realised they were exactly what I was looking for when it came to secure storage. Apart from a search warrant from an Australian court, it was only me that had access to the vault. Once I learned their sister company, Guardian Gold, operated from the same location, they became my new supplier of metals as well.

I also lost around fifty per cent of the value of my superannuation because of the GFC. I made a decision to set up a self-managed super fund. Precious metals became a large part of my portfolio and I keep them at Guardian. I have had a few years of audits now and there have been no problems with storage at Guardian.

Family and friends ask me why I took the leap into gold and silver. My answer is always the same. First and foremost, I am not a financial adviser, so I encourage them to do their own due diligence. Secondly, I tell them to educate themselves in the structure of the monetary system and the role that gold and silver once had, and is about to have again, in spades.

Finally, I tell them I dipped my toe in the water. Once I had more confidence in what I was doing, I expanded my exposure and I kept learning.

I passionately follow the market and have my favourite go-to industry people such as Mike Maloney, Andrew Maguire and Guardian Gold. I suppose I could have kept money in the stock market the last few years after the GFC and I would have done OK. Possibly better than gold and silver during that time. However, as Mike Maloney says, I would rather be five years early than five minutes late when the next financial crisis rears its ugly head. I know where I want to have exposure in the market and I sleep very well at night. I can’t be any happier.

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