We trust the banks. We trust what our financial planners tell us. We trust our government. We trust “broke” rage firms. We even trust the stock market. And unfortunately in the world we live in today, blind trust will destroy you.
Now, I’m not trying to discourage you or get you to become pessimistic. I’m also not trying to get you to stick your life savings under your mattress. But in order to be successful, I believe that our blind trust of our financial system, as well as the lack of trust in ourselves must be re-evaluated.
One of the reasons that I believe in buying physical commodities (like silver), is because you possess that money. It’s yours. It’s in your hands. When you invest your money in the financial system (stock market, banks etc.) you only have theoretical money. You are trusting in them to deliver to you what shows up on your computer screen or your bank statement.
Obviously you can’t carry all of your assets on and with you. But you certainly may want to carry some. In the following video, Lauren Lyster of Capital Account explores how 200 million dollars can go up in smoke.
Originally posted 2014-09-02 15:47:11.