Get The Facts On Gold – FOOLS GOLD!

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[The following is a partial transcript of this episode of The Scott Alan Turner Show. Listen to the full episode to hear this story, listener questions, money hacks, and inspiring stories of people that are changing their financial lives. Subscribe to the free podcast on iTunes or Google Play]

In This Episode / Listener Questions

  • Investing in gold means less money for you. Here’s why.
  • Amazon has a new secured credit card for people with bad credit.
  • NFL Player with the 138,000 miles on his truck
  • Can I reduce my taxes by putting a rental home in an LLC (Rick, Texas)
  • Is it better to pay cash for a car and get a rebate or use 0% financing (Big J)
  • How do stay positive in tough times when you are transitioning careers (Jackson, Facebook)
  • I have loans with 30% interest. How can I lower the when I can’t pay my bills. (Patty)

Resources/links:

In the words of the Great British Baking Show, On your marks, get set, FAKE! Fake + Bake.

Today I guarantee to save you at least $15 by keeping you from having to buy this book.

Rich Robert Poor You Kiosucky has a new book out called Fake.

“Fake Money. Fake Teachers. Fake Assets. How lies are making the poor and middle class poorer”

‘Fight FAKE with facts’.

Listen up, today on the Scott Alan Turner Show we will FIGHT FAKE, fake, with factual facts.

Last night I was reading The Seven Principles for Making Marriage Work. Over one-million copies sold. Happily married for almost 14-years. Like most things in life, if you want to keep doing well at something you keep working at at it and learning to make it better.

The author has a 91% accuracy rate in predicting divorce. Based on the decades of science he and his team has done.

Plenty of people consider themselves to be experts on marriage – and are more than happy to give you their opinion of how to form a more perfect union. But that’s the key word – opinion.

I read that, and boom. The author nailed it. Opinion vs. science and research.

Someone might have an opinion it’s a hot day outside. But only a thermometer will confirm if it’s above 90 degrees.

Facts matter when it comes to your money.

First we follow the money! What are the reasons behind people saying what they say?

  • Are they looking out for your best interests?
  • Are they putting your money before their money?
  • Are they trying to pay for their vacation, new house or retirement with your vacation money, your new house money, and your retirement money?

Well, let’s see, ok?

At the gym there are many TVs that play the sports and news channels on mute. So I see lots of interesting commercials for financial products. Including one for a company called LEER Capital. LEER Capital is in the business of selling gold.

And just who is a spokesperson for LEER capital? Why Robert Kiosucky of course. How ironic that Robert writes a book about loving gold, and he’s also a pitch man for a gold company.

Nothing wrong with that, as long as whatever product is being pitched is the best available in terms of price, it’s something you need or want, and it’s the best product at the lowest cost. Make sense? Spend as little as necessary, for the best stuff. Anything else and you’re just throwing away money, right?

Now that we know there is a money trail. Which is never mentioned in the book Fake, by the way. Now let’s look at the claims. Are they real? Are they accurate? Are they using fake math or half math to pull the wool over your eyes. Absolutely they are using fake math. Again, more irony because in the book Fake, Rich Me Poor You constantly talks about fake math.

LEER Capital is using their own brand of fake math to get people to buy gold.

When I say century, what’s the first thing that comes to mind. Maddie?

100 years, exactly. Because that’s how long a century is.

LEER Capital – Gold has beat the DOW This Century!

Wow, a century is a long time! But it’s ‘this’ century. Which is only 19 years. Which is not 100 years. But by saying century, the very clever marketers know you and I will be thinking 100 years, not 19 years.

Imagine if instead they had said Gold has beat the DOW the past 19 years! Much less impressive, right? Maybe you might think of that as fake advertising. It’s clever at the least, right?

I will explain how people trick your big brain, and you’ll learn how to save money by recognizing these games that cost you.

What happens if we look at 100 years of Gold prices. I’m glad you asked that because this is going to blow your mind!

In July, 1919, gold was $20 an ounce.

Today, gold is $1,300 an ounce.

Which means, if you bought gold 100 years ago for $20, today you would have made $1,280 over those 100 years.

I repeat, in 100 years, you made $1,280.

Now what if you had taken the same $20, and invested into the boring old stock market.

My friends, it’s not looking good. You would only have…wait for it.

Dramatic pause…

$312,000

$1,280 in more gold vs. $312,000 in more stock.

But gold! Gold’s beat the market this century!

  • Gold, doesn’t compound.
  • Gold, is not an investment.
  • Gold, does not beat out the stock market over time.

Maybe sometimes, but not over our investing lifetime.

Heck, donuts beat out the stock market sometimes. The stock market goes down, the value of a donut doesn’t.

A dozen Krispy Kremes is $6. Throw them in the freezer, next year, still $6.

If the stock market drops 20%, you’re frozen donuts just became a better “investment”.

See how silly that is? But it’s true, right?

Are donuts a bad investment? They are if you like money.

Ok, but I cheated. I used some half-math there. That’s a term I invented. Half math. Because in the 1970’s – boring history lesson alert – the U.S. dollar wasn’t backed by gold anymore. And the price took off like Elaine Musk’s rocket to Mars. In the year 2022. So he says.

$35 gold coin in the 70’s is worth $1,300 today.
Invested $35 in the stock market, you would have $5,400 ignoring taxes and fees.

Or, $4,100.

$1,000 in gold in the 70’s someone would have made $117,000 more in the stock market.

But, but, but, GOLD!

Are you going to pick the stock market over gold?

March 2000 gold was $425. Now it’s $1,300. So you made $875.

The same investment in the stock market made you $1,100. Or $200 less.

Here’s my question – Did you buy gold in the year 2000?

No.

Did you own the stock market in 2000?

Probably not. If all I do is change some dates, go back ten years:

June 2009 – $1,107 – $1,300 = $200.

Stock market: $3854 – $1,1107 = $2,747

Or $2,500 more.

It’s fake math. They are using fake math to make money off people. Simply by changing, or talking about a specific period of time, that is specifically chosen to make people think they can make a lot more money doing one thing vs. another.

The financial pied pipers do this all the time.

And what I do, is show you how they do it. And you’ll never lose your shirt because you know.

Yes, gold has beat the DOW this century! It’s true. What is not true, is you will not build wealth buying gold. You will not get financial independence. You will not compound your hard earned money. People will end up being fools buying fools gold using fake math to fool you.

The only gold we own is this $200,000 diamond encrusted gold collar I bought for my cat. It’s glorious!

And, we’re just getting started on this fakery. I haven’t even gotten to the book yet! All that was just from a commercial at the gym!

I’m always looking out for you, the other people – most of them aren’t.

Gold and silver – they are God’s money!

Oh, he loves God! He must be a good person. He’s a person of faith! How noble of him.

Well, let’s run with that. Gold and silver are God’s money. His argument is this stack of bills here in front of me, are the governments money. Fake money, built on debt. The dollar can collapse and become worthless. He quotes what happened in 1971 when the U.S. dollar was no longer backed by physical gold. Irrelevant for my point.

Gold and silver are God’s money. What he’s trying to do, in my brilliant opinion – is back handedly make people believe that they are ungodly if they don’t buy gold and silver.

You don’t own gold! You little devil! It’s God’s money!

Let me borrow from the Christian faith for a moment. This is not a religious show, but hear me out.

  • Christians believe all things belong to God.
  • Christians believe those people put in authority were put there by God.
  • All money belongs to God, we’re just stewards of it.

If money belongs to God, then it’s God’s money. So a $100 bill is God’s money.

Sure, gold and silver are God’s money. So is the $100 bill, the Norwegian Kronar, and bitcoin. God rules them all with his one ring.

End of argument.

He quotes Buffet in the back. Buffet doesn’t buy gold.

The Oracle of Omaha even said he’s instructed the trustee in charge of his estate to invest 90 percent of his money into the S&P 500 for his wife after he dies, Buffett told CNBC’s Becky Quick in an exclusive interview on “Squawk Box” on Monday. “There’s been no better bet than America,” he says.

Funny how Rich Robert Poor You doesn’t mention that in his Fake Gold book. Nothing new here, people pick and choose stats, math, and quotes to fit their agenda all the time.

Any article with the word Millennial in it is proof of that.

If you want to survive the coming end of the American Democracy it’s really quite simple.

  • Move to North Dakota.
  • Buy an abandoned missile silo
  • Move in
  • Load up on freeze dried food, water, ammo, guns, and cross bows.

Gold is not the currency of the future in the case of an economic disaster. Food and water is along with a crossbow or samurai sword to keep away the zombies.

From page 387:

REPEATING WORDS FROM A RICH MAN

Warren Buffett does not invest in gold. He has invested almost $1 billion in silver,so the reason for his aversion is not simply a dislike for precious metals. The explanation for Buffett’s dislike of gold and for his enthusiasm about silver stems from his basic value investing principles.

Warren Buffett has been very vocal about his disdain for gold as an investment. He sees little to no value in it. What Buffett refers to as a lack of value results from a lack of usefulness.

REPEATING WORDS FROM A RICH MAN

(Gold) gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.

REPEATING WORDS FROM A RICH MAN

I have no views as to where it will be, but the one thing I can tell you is it won’t do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money, and there will be a lot — and it’s a lot — it’s a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.

If Rich Robert Poor You Kiosucky is going to repeat words from a rich man, he ought not to selectively pick and choose which words he ’s going to repeat.

He once stated about gold, “It doesn’t do anything but sit there and look at you.”

Here’s Turner’s take on precious metals for the record:

Turner whole heartedly endorses the purchase of silver bullets and lots of ammo to protect living souls from the vampires and wearwolves.

You may quote me on that.

  • Ok, so I’ve explained how advertisers can manipulate returns just by changing the starting date.
  • I’ve given you resources and proven gold does not beat the stock market over time.
  • I’ve shown how Rich Robert is a spokesperson for a gold company, so of course he wants you to buy gold. Fine if you like gold. I’ll be spokesperson for Krispy Kreme. Buy Krispy Kreme donuts and you can have biceps like mine!
  • I’ve pointed out quotes taken out of context from well respected people. Let’s call them half quotes.
  • And I’ve pointed out the alternative investment you need to make if the world economy collapses – food water, silver bullets, crossbows.

And finally, go do your own research.

Quotes

Get The Facts On Gold - FOOLS GOLD! Get The Facts On Gold - FOOLS GOLD! Get The Facts On Gold - FOOLS GOLD!

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