A Review of Gold & Silver: The Greatest Bull Market has Begun
Bob Moriarty

I began buying gold and silver in 1969. At the time I was flying planes in Vietnam dropping bombs and controlling air strikes. If you have never been in the military you wouldn’t realize it but at the squadron level we tracked every expense. JP-4 used for the F-4B was $.02 a gallon. A 500-pound bomb cost about $500. Sun glasses were $9 and leather flight jackets $18.

I looked around at the pace of operations. At the time the Da Nang airport was the busiest field in the world with a takeoff or landing every 30 seconds around the clock. When I added up the numbers I realized that the war cost a lot of money. We probably weren’t paying for it. There was a 10% income tax surcharge but even at my tender age I couldn’t see that tiny amount of money paying for what seemed to be a very expensive war.

I’ve always been a bit of a contrarian so I believed that the value of the US dollar, the world’s reserve currency, was at risk. At the time gold was $35 an ounce, silver $1.29 an ounce. Silver certificates could be turned into the treasury and redeemed for physical silver in bars.

It wasn’t totally legal for Americans to own gold. Even if you were a jeweler you were limited to how you could buy gold. But there was a provision for Americans who collected gold coins to purchase them. A US $20 gold piece containing .9675 of an ounce of gold could be had in pristine condition from any coin dealer for about $38. If you were a jeweler you could buy high karat gold bars from the US Assay office in either New York or San Francisco.

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That got me started in being involved with the metals and look where I am today. I spent years trying to convince people to own gold and silver with little luck until late 1979 and January of 1980 when everyone wanted to own gold and silver. The market got too crowded for me so I sold out a week too early at $45 an ounce for silver and $800 for gold.

I saw the identical crowd behavior in reverse in 1999 and 2000 so I began to dip my toes back into gold and silver and resource stocks. In 2001 I was in my favorite coin store in Miami. He had dozens of 100-ounce silver bars stacked up on sale for under $4.50. I asked where he managed to find so many silver bars at the same time. My friend who owned the store told me they were his customers who bought them at the high in 1980 and sold at the low in 2001. That’s how people invest.

Barb and I started 321gold and it grew as the price of the metals rose. I would go to gold shows; I was in my fifties at the time and looking around it always seemed as if I was the youngest person in the room. How times have changed. Now the mining conferences seem filled with young people. A lot of that is probably because all the old timers have kicked the bucket.

We need to educate young people and frankly there isn’t a lot of education going on. Most resource website seem to preach to the choir. So it was with great pleasure that Jordan Roy-Byrne sent me a link to his just released book on investing in gold and silver resources. Here is a link to the book. A Review of Gold & Silver: The Greatest Bull Market has Begun

His subtitle sums it up even better than the primary title. “A ONCE-IN-A-LIFETIME-INVESTMENT OPPORTUNITY.” He nailed that. The Japanese bond market just blew up; the US bond market is about to blow up. The Carry-Trade was based on stable and low Japanese interest rates which are now history. If ever the investment public needed a good primer on using the metals and resource stocks for investment this would be the book to have. I ordered the book for a doctor friend of mine here in France who understands the overall market is on egg shells and wanted something to help guide him invest. This is that book.

Lots of books and writers talk about the history of gold and silver but ignore the most basic issue. We are at a major pivot, a turning point in financial history. This is a monetary lifetime changing period. Jordan nails it and the book belongs in every library of anyone who understands our financial is about to change more than it has in the last five hundred years.

I highly recommend the book.

 

 

Bob Moriarty founded 321gold.com with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.

 

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