New Gold Coins

There is nothing like throwing over 6,000 years of history out the window with one statement. I call that silly. It’s even sillier when a man with the wealth of Warren Buffett says it, as he recently called physical gold a “valueless asset”. The UK Telegraph picked up the comment in reporting that Fortune Magazine had interviewed Mr. Buffett on this subject. Also from the UK Telegraph article, their writer Emma Wall wrote the following last Friday:

“Buffett's attack comes as private bank Coutts predicts that the gold price will hit "new highs" by the end of 2012. In a report from the bank, that counts the Queen among its clients, gold is confirmed as a "key asset in investment portfolios".  

Hmmm….. I think it is fair to say that the Queen of England knows her history. Also, one of the wealthiest men the world has ever known Mayer Amschel Rothschild, who was named by Forbes magazine as “the founding father of international finance” said “Wealthy men have always collected rare coins”. He probably knew his history too. Rothschild said that back when coins had value and were primarily physical gold or silver. Guess what modern founders of finance, like Richard Fisher, the President of the Dallas branch of the Federal Reserve are doing with their own money – investing in gold! Fisher’s disclosure of investment was recently released by the Federal Reserve as well as the holdings of the other Fed branch presidents. Another hmmm….. If the Fed presidents have so much faith in paper money, then why does Fisher own more than $1 million in gold and another $50,000 in platinum?

Back to Warren Buffett. If he thinks that gold is a “valueless asset”, then why did he say this on 8/19/09: “Unchecked greenback emissions will certainly cause the purchasing power of currency to melt.”? Combine that with his firm Berkshire Hathaway’s investments in silver a decade ago (did he think that the other monetary metal was also a “valueless asset”?) and an investor would have to conclude that Warren likes to speak out of both sides of his mouth. Sorry Warren, I appreciate your head-fake, but I’m going to continue to measure my stack of gold coins. I don’t know what your agenda was with your comment from last week, but I know that history is on my side. I’m buying more physical gold from Lear Capital!

Per Agora Financial’s 5 Minute Forecast last Friday: “The number of voices concerned about a new financial crisis grows...

“You should be scared,” says Neil Barofsky, who was inspector general of the $700 billion TARP program to bail out the banks until last spring. “I am scared.”

“You can’t not be scared,” he tells Dan Rather in a new interview. “You can’t look at what happened in the run-up to 2008 and see how it is not going to repeat itself, given what we have done.”

Also, here is how they think the dominos are going to fall:

“So we have a scenario that looks something like this:

• Greece defaults
• The market value of the French banks’ commercial paper is downgraded
• Money market funds refuse to fund new issuances of that commercial paper
• Suddenly, the French banks don’t have enough liquidity to meet their obligations
• Meanwhile, European banks hit up U.S. banks for their credit default swaps, putting said U.S. banks, in Mr. Greenspan’s words, “up against the wall.”

Oy... There’s no news we see today that indicates this is close to being fixed before the European Central Bank’s self-imposed deadline of July 11.”

And, Barfosky (who in my opinion should know) said the following about the next crisis: “The largest banks are now 20% larger today than they were going into the crisis,” Barofsky told Corporate Crime Reporter last week. Standard and Poor’s “estimated that the upfront costs of another bailout could be up to $5 trillion.

“And when you think about the focus on our budget issues, our deficit and our debt — what happens with the next crisis and we have to come up with another $5 trillion to bail out our system once again?

“It’s a terrifying concept.”

As the folks of the 5 Minute Forecast say: “Oy”. Oy is right. And July 11^th is only 20 days away. Are you stacking your gold coins yet? I am. Gold supply and demand – that’s right! I’m demanding gold in my portfolio! Demand your gold coins today at Lear Capital !

The chief of their emerging markets desk at Templeton Asset Management that manages $50 billion says: "There is definitely going to be another financial crisis around the corner because we haven't solved any of the things that caused the previous crisis."

Exactly! No one hands Mark Mobius at Templeton $50 billion for being a dunderhead!

From Tuesday’s Agora Financial 5 Minute Forecast: “Speaking in Tokyo, he pointed to derivatives — the financial hairball of futures, options, and swaps in which nearly all the world's major banks are tangled up.

Estimates on the amount of derivatives out there worldwide vary. An oft-heard estimate is $600 trillion. That squares with Mobius' guess of 10 times the world's annual GDP. "Are the derivatives regulated?" asks Mobius. "No. Are you still getting growth in derivatives? Yes."

In other words, something along the lines of securitized mortgages is lurking out there, ready to trigger another crisis as in 2007-08.”

Makes me want to count my stack of gold coins! How about you? This news screams: “Buy gold!” Here’s more evidence of the crisis flag a-flyin’:

From the article in MoneyNews also from Tuesday entitled Meltdown Risks Are Enormous, the following:

“The United States has still not addressed the problem of dealing with financial institutions deemed too-big-to-fail, leaving the country at risk to another meltdown like in 2008 or worse, say Gretchen Morgenson and Joshua Rosner, co-authors of the book “Reckless Endangerment.”

And:

“We have more too-big-to-fail institutions, more politically inter-connected, very deep and wide institutions that could create another system event like we had,” says Morgenson, a New York Times journalist.

“We have not solved that problem, so it’s almost as though the situation that brought us to Fannie Mae and Freddie Mac having to be bailed out has now been squared or quadrupled, so it has really become worse, not better.”

The gold to silver ratio is often discussed and used to determine where the price of each should or could be considering the ratio.  Historically, the ratio has been set at 15 to one.  That is, the value of 15 ounces of silver is equal to the value of one ounce of gold.  Currently, we are at about 38:1.

But where did the ratio come from?  Who set it?  Biblical scholars would point to information in the Bible and combine it with archaeological finds to confirm that God may have been the original authority setting the value of each.  More recent history brings us to the U.S. own Original Coinage Act of 1792.   

In 1792 our Federal Monetary System was created after numerous failed attempts to introduce paper currencies into commerce.  The Coinage Act of 1792, was passed in order that a common monetary system could be created for the new United States.

Prior to doing so, the money was based largely on the British system of pounds, shillings and pence.  Use of a variety of other foreign coins, made of both gold and silver, found no favor amongst merchants and citizens alike as it was cumbersome to calculate and convert relative values of each in their daily transactions. 

The Act called for the minting of Gold and Silver coins.  Taking into consideration the weights of the variety of foreign coins in circulation, Alexander Hamilton, then Secretary of the Treasury, made recommendations of specific weights and metal content for each coin. 

In studying the values set for foreign coinage, Hamilton observed that gold carried 15 times more value per the same unit of measure as did silver.  So it was in the Act that a gold dollar would contain 24.75 grains of gold and a silver dollar would contain 371.25 grains of silver.  In consideration of the fact that a gold dollar would be very small, and that there was really no need for two kinds of dollars to circulate, the gold coin to be minted would be a $10 coin called the "Eagle."

It's interesting to note that Hamilton's calculations of the value of silver to gold came to equal the same ratio as set in Biblical times.  15 ounces of silver equal to 1 ounce of gold. 

Today the ratio sits near 38:1.  It may surprise some to learn that as recently as September 2008, the ratio was 83:1.  With silver demand exploding some expect the ratio to close even further.  One analyst puts silver at $52-$56 an ounce by June 2011, closing the ratio only slightly as he also projects gold significantly higher as well. see article 

Will silver eventually close the gap?  In 1980 as both gold and silver reached what we still refer to as all-time highs, (after adjusting for inflation and debasement of the dollar) the gap closed to its historical level.  Silver reached $54 an ounce and Gold hit $850.

Whether it will happen again, only time will tell.  But if it does, that's probably a good sign that it's time to sell silver or trade it all for gold.    

I really like the iPad. I do! My wife has one and she loves hers. But,neither one of can eat it as a meal. Also, a fine resident of Queens, NY agrees with me. You see, New York Federal Reserve President William Dudley was holding a discussion in Queens last Friday about how Fed policy works. As Kristina Cooke wrote in this Reuters article was bombarded by questions about food inflation. As an example: “"When was the last time, sir, that you went grocery shopping?" one audience member asked.”

Agreed. As mentioned, after Dudley referenced the iPad 2 being priced the same as an iPad 1, the one Queens resident said: "I can't eat an iPad.”

This may go down in history as a moment where it showed just how out of touch our Federal Reserve is with it’s citizens.

Can you eat physical gold, or a small gold coin, or even numismatic silver? No. But, they can help your portfolio potentially keep pace with the ravages of the inflation that our Fed cannot see. Call us at Lear Capital today!

It's all about physical gold that winds up in the form of a gold coin.

Here’s a short answer to Ralph Benko’s question above. He’s the one who wrote the article entitled Gold, the States and Federal Monetary Policy. His answer? “Disgust is probably the answer. Various state legislators are disgusted by the federal government’s promiscuous dollar-printing. Accordingly, legislators in a dozen states are contemplating legislation to issue gold or silver-based currencies, including Utah, South Carolina, Virginia and New Hampshire.”

Did you catch that folks? 12 state legislators are looking into how physical gold and silver currencies could replace the US dollar. Are you looking at how you can replace your dollars with physical gold and silver ? If not, you should be! Call us today at Lear Capital to get it done!

A few weeks ago, I wrote how the average person today lives better than kings did not so very long ago. I didn’t mean to be presumptuous—I realize many are suffering during this time of “prolonged recession” and certainly not living up to anything resembling the standards of royalty.

But consider this: For the most part, people are wonderfully adaptable creatures, adaptable to both good and bad times. Assuming you’ve had some kind of job and a roof over your head (and maybe that’s a stretch, too), you’ve probably already adapted to the wonderfully favorable conditions Western culture has provided over the past 50 years.

What conditions are these?

Here’s a short list:

1/ Freedom in the land

2/ A stable currency and means of exchange

3/ Reasonably attainable permanent shelter; emergency shelter for those in need

4/ Wide accessibility to clean water

5/ Conveniently located (and relatively affordable) sources of (generally fresh) food

6/ The common use of refrigerators to store otherwise perishable food right in our homes

7/ Electricity (and gas ) delivered to our homes

8/ Instant communication across many platforms, including telephones, cell phones, emails and texting.

9/ Emergency (and long-term) medical help

10/ Indoor plumbing 24/7

11/ Indoor heating when it’s cold outside

12/ Indoor cooling when it’s hot outside

13/ In-home entertainment of every sort, 24/7, via various TV, satellite and cable systems (ranging in price from free to about $100/month)

14/ The Internet

15/ A still-local police force

16/ Generally available private and public transportation; well-maintained roads; a national highway system; affordable and accessible fuel; freedom to travel

17/ Sanitary services, provided town by town, including garbage/trash removal

18/ Low inflation

It’s hard to imagine that our ancestors grew up missing many (or all) of these advantages. But they did. Yet they adapted pretty well (we’re here, aren’t we?). Today, having lived better than kings of not so long ago (many of us, anyway), life would be pretty odd without any of the above 18 advantages. Imagine, for instance, no longer having cell phones? Or supermarkets?

Or indoor plumbing? 

I’m not suggesting that we’re about to “go Neanderthal” and pass through a season of terrible deprivation, lose all of these kingly advantages, and face a sort of soul-shaking cold turkey withdrawal from modern life. On the other hand, the great majority of us believe that losing even one of the above benefits would be an utter impossibility given today’s technological advancements and mankind’s resourcefulness. Such mortal certainties have no basis in history.

Just as a smug Titanic deckhand was alleged to have uttered on the day of the great ship’s launch—“Even God Himself couldn’t sink the Titanic”— we’ve become entirely too dependent on man’s supposed greatness to keep us living like kings.

A King’s Ransom in Debt

Ironically enough, on the very day President Obama painted a rosy picture in his 2010 State-of-the-Union Address, the Congressional Budget Office was heading in the other direction, forecasting an all-time high $1.48 trillion for the 2011 federal deficit. And even that was conservative according to the U.S. National Debt Clock (http://www.brillig.com/debt_clock/ ) that claims we’re now $14 trillion in debt.

Meaning? Meaning, if we were aboard the Titanic, we’d probably be at the point where we were cruising at high speed, in the dark, at about 11:40 p.m., in iceberg dotted seas.

Another perspective? Americans now owe more money to more people than any human beings on Earth ever have. We somehow owe more dollars than there are even dollars in the world.

But so what, right? The US debt is just a bunch of numbers that really don’t mean a whole lot to the average man and woman….a mess Washington got into in that doesn’t have anything to do with the average Joe. For all we care about our debt troubles (or want to know), NBC News with Brian Williams might as well be reporting that the U.S. now has a “humongous” debt of “zillions and zillions” of dollars (as if speaking to a bunch of bored kids).

After all, America’s record debt still seems pretty tame, doesn’t it? It’s not interfering with our watching “Dancing with the Stars” or “Glee” or any of the other popular TV shows out there. And it doesn’t stop us from grabbing a Big Mac at McDonald’s anytime we wish. If it did mess with our lifestyle, then, sure, we’d probably get really, really angry and start paying a lot closer attention.

Thinking Outside the Economy’s Smug Little Box

Of course…if you were a reader of history…you might be just a bit alarmed by now. We’re going on forty years since the dollar was detached from gold and became a fiat currency. A fiat currency is one that’s not backed by gold or silver or anything of real value but is only valuable because government says it is.

A Canadian writer by the name of  Rob Kirby observed, “…the learned Central Bankers know that historically, fiat currencies have a life span of around 40 years, maximum. The U.S. closed the gold window in 1971—38 years ago (this was written in 2009). This is why all of the king's horses and all the king's men —ultimately—won’t be able to put the humpty-dumpty-dollar back together again.”

That predicted dollar deterioration may be reflected in a growing uneasiness at Moody’s, the international credit rating service.

“We have become increasingly clear about the fact that if there are not offsetting measures to reverse the deterioration in negative fundamentals in the U.S., the likelihood of a negative outlook over the next two years will increase,” said Sarah Carlson, senior analyst at Moody’s.

Translated? It may be smart to get your own personal back-up for the dollar and the U.S. economy…if you can tear yourself away from “Dancing with the Stars” long enough, that is.

Your “I Enjoy Living Like Kings” Money

It’s interesting to note that almost every issuance of paper money starts out backed by gold and/or silver. After a while, however, there’s an expensive war or politicians simply get tired of the fiscal discipline the gold standard demands and detaches the currency from its hard money origin.

Which seems to light a kind of fuse to the credibility of the country’s currency. So why does gold have so much durable worth? Gold and silver have been recognized as money for as long as there have been civilizations. Build yourself a time machine and go back to about 700 B.C., and you’ll see for yourself that gold has held value since then (just be sure to take some gold with you as spending money). 

Might be a wise move, if you want to continue living like a king, to invest in gold and silver coins today while they’re both still readily available.  

Nothing’s been resolved. That’s the thing. After all the suffering we’ve been through, you'd think we would have at least resolved some economic issues by now. But the truth is we’ve only been postponing debt trouble and not actually passing through it, putting it behind us.

A recovery just can't seem to find any traction. After all, the economy has been in the dumps some 36 months now (this all began in Dec 2007). That compares, unfortunately, to the start of the Great Depression. The Dow had dropped from a high of 381 in September of 1929 to just 41 in June of 1932, three years after the Dow’s high, concluding a breathtaking 89 percent collapse in value.

Most of us were counting on this recession/depression being over by now.

But if the recession still has a long way to go, is there anything we can do to help ourselves survive and thrive in the days ahead? Here are five ideas.

1/ Follow the Media…Just Don’t It Follow Too Closely. By that, I mean, don’t take what the media says as the gospel truth. The media isn't quite as objective as it wants you to believe. It may be motivated to paint the economy in the prettiest colors possible. Why? Because that would tend to attract advertisers and sponsors who might otherwise hold back until the downturn is obviously over. Remember, ultimately, no advertising, no media. Listen to a variety of news sources.

2/ Be careful what assumptions you make about the stock market. Assumptions? You know...the market’s been down so long there just has to be a bull rally right around the corner. As far as assumptions go, this could be a real whopper. Nothing says the Dow has to go up after a prolonged recession. Consider this: The Dow finally revisited the September 1929 market high 25 years later in November 1954! So...“Anyone who bought stocks in mid-1929 and held onto them saw most of his or her adult life pass by before getting back to even,” observed analyst R. Salsman. As if that’s not bad enough, that doesn’t take into account the massive inflation that occurred over those 25 intervening years, seriously diluting an investor’s initial purchasing power. So buying low (at least at what we think is low) is not the panacea we assume it to be. What’s more, retiring baby boomers means investors will start staying away from the stock market in droves in the years ahead.

3 Don’t invent new solutions to the recession. There's no need. You don’t have to come up with whacky remedies for your personal finances, especially when good tried-and-true methods seem to be working so well. Like gold and silver. Gold's recessionary track record is speaking for itself. You don’t have to come up with something as obscure as strategic metals from Timbukto or mutual funds that focus on tulip bulbs.

4 History isn’t the only template. It’s not the only example to go by. What happened in the Great Depression isn’t necessarily what we have in store for us here and now (and that goes doubly for me and my Great Depression examples). Conversely, it would be pretty naïve to think that we'll face none of what the people back then had to endure. This recession of ours has its own fingerprints. 

5 Hunker down (at least a bit). What this means is that it may be smart to keep some necessities on hand. Like food. Doing so doesn't mean you have to admit to yourself that you really do harbor deep suspicions over the otherwise reliable food distribution system we've enjoyed all of our lives. But if you suddenly do encounter a bout of unemployment, it may make things go a bit easier for you and your family.

Also, you might get in the habit of not spending every single dollar you earn each month. This isn't a time for fun and games. Let's face it, recessions are serious business.   

So where do we go from here? Including gold and silver coins in your financial gameplan in the event economic times get out-of-hand could be a really smart move, even if gold and silver investors have already enjoyed a tremendous run.

Don't worry about their good fortune. There's still plenty of upward potential for precious metals. After all, the one thing we have learned, over this time of great uncertainty, is that gold has shown itself to be a proven antidote to the current economic ills.

Please read this in it’s entirety. It is at the very heart of the matter – the problem with paper money, or most importantly the ABUSE of the privilege of printing paper money.

12/03/10

 Oh, what a tangled web we weave
When first we practice to deceive

– Sir Walter Scott

“The trouble with today’s financial system,” we told a Bloomberg reporter, “is that it is based on fraud.

“At the bottom of it is paper money – itself a kind of deception. It pretends to be real money. And it is real money – in the sense that you can use it to buy things. But it is prone to lie. All the feds have to do is to turn on the printing press and it will tell you that you are a lot richer than you really are.

“This sort of flimflam has been going on ever since the end of WWII. The feds systematically increased the amount of paper money…leading people to think they had more purchasing power than they really had. Today, a dollar is worth only about 3% as much as it was 100 years ago.

“But that’s just the beginning of the scam. They also systematically under-priced credit – in the belief that the key to prosperity is consumer credit and spending, rather than saving and production.

“The system has its architects and its operators – all quacks and mountebanks. They pretend that they can manage the currency and manage the economy. Yet they misunderstand the most basic elements of how a real economy works. Wealth does not come from consuming…it comes from producing.

“The managers claim to be able to manipulate the economy so well that they can actually improve its performance…that is, they say they can make the economy perform better than it would on its own…better than it has naturally for the past two thousand years. By eliminating the cyclical downturns, the feds told us that they would we all be richer…and free from the volatility that plagued us theretofore.

“So they fiddle and fake it…improvising…and making it up as they go along. The raise interest rates…and then they reduce them. They introduce more paper money when it suits them and change banking rules as their theories suggest.

“When anything ‘bad’ happens, defined as something they don’t like, they rush to fix it. But what can they fix it with? A little duct tape of monetary policy. A little fiscal baler twine too.

“Their fixes are not completely random or haphazard. They have a bias – towards more credit, more spending, more cash, and more speculation. If they tighten rates one month, they loosen them for two months. If they run a surplus in the federal accounts one year, they run deficits for the next five.

“Gradually, more and more debt, mistakes, bad judgments and cockamamie speculations build up. And then, the authorities are under pressure…running from one crisis to another…providing credit to one zombie…and bailout to another…and raw meat to a third.

“And then suddenly, the discipline and self-restraints that held them back gives way like a frayed old rope. Then the central banks and Treasury authorities are running free…abandoning themselves to the trickery and fraud inherent in their profession. The European Central Bank says it will provide ‘unlimited liquidity’ to those who need it, in order to fend off a debt crisis in the Old World. In the New World, the Bank of Ben Bernanke is already bailing out big banks in North America as well as those of Europe. And everywhere, the feds are ready to support one another…and bankroll the IMF…with more paper money and more credit…

“…all of them desperate to hold the system together.”

And now they link arms – the Fed, the ECB, the EU and the US…and don’t forget Japan and the BOJ. And off they march – right off a cliff.

Bill Bonner
for The Daily Reckoning

The antithesis of paper money? Physical gold. Get your golden coin today at Lear Capital !

Chuck Butler of EverBank caught this in his Daily Pfennig today. He was discussing how the US Federal Reserve feels that there is a need for more inflation. He detailed what Jim Grant of Grant’s Interest Rate Observer said about this: "That's like the New York Police Department complaining about the lack of crimes."

I agree! With folks who want more inflation – arm yourself with gold coins! Start your stack today by calling Lear Capital!

Says Misty Lane in response to the Wall Street Journal article Fed Fires $600 Billion Stimulus Shot, “…because I’m going to need a new one to carry my money into the grocery store for a loaf of bread soon.”

Buy two Misty. Get one for your neighbor too. They will thank you later! Folks, do you get it? Americans are beginning to wake up!

In December of 2006 I was asked to make a presentation about ownership of physical gold to a group of friends in Cincinnati. I used a wheelbarrow, a bundle of fake $1,000,000.00 bills and a small gold coin to make my point. Ask yourself this question: “which would you rather have?”

I’ll take the small gold coin, or better yet, a rare gold coin from Lear Capital!

Folks, this is how small things in the new currency war get bigger:

BEIJING, Oct 26 (Reuters) - Dollar issuance by the United States is "out of control", leading to an inflation assault on China, the Chinese commerce minister said in comments reported on Tuesday.

Read about the above lead sentence and more here in Reuters. If you have not begun to protect yourself with gold coin currency that endures such battles, now is the time to learn how to buy gold. A suggestion – call The Precious Metal Leaders – call Lear Capital!  

Discussed more and more, as silver prices rally, is the ratio in value of silver to gold.  Currently sitting at 60 ounces silver being equal to 1 ounce gold, some say that ratio is headed much lower.  Why the optimism?  Perhaps history explains.

In 1792 our Federal Monetary System was created after numerous failed attempts to introduce paper currencies into commerce.  The Original Coinage Act of 1792 was passed in order that a common monetary system could be created for the new United States.

Prior to doing so, the money was based largely on the British system of pounds, shillings and pence.  Use of a variety of other foreign coins, made of both gold and silver, found no favor amongst merchants and citizens alike as it was cumbersome to calculate and convert relative values of each in their daily transactions. 

The Act called for the minting of Gold and Silver coins.  Taking into consideration the weights of the variety of foreign coins in circulation, Alexander Hamilton, Secretary of the Treasury, made recommendations of specific weights and metal content for each coin. 

In studying the values set for foreign coinage, Hamilton observed that gold carried 15 times more value per the same unit of measure as did silver.  So it was in the Act that a gold dollar would contain 24.75 grains of gold and a silver dollar would contain 371.25 grains of silver.  In consideration of the fact that a gold dollar would be very small, and that there was really no need for two kinds of dollars to circulate, the gold coin to be minted would be a $10 coin called the "Eagle."

It's interesting to note that Hamilton's calculations of the value of silver to gold came to equal the same ratio as set in Biblical times.  15 ounces of silver equal to 1 ounce of gold. 

Hamilton's ratio, or God's if you will, has now not been seen since 1980 when gold and silver hit respective highs of $850 and $54 per ounce.  This is one reason silver investors are excited as they see an ultimate convergence of both the gold price and silver price back to their lawful ratio. 

Will it occur?  At present, either the gold price has to drop dramatically or silver has to rise even more so.  With global debt driving gold demand through the roof, as even central banks are now accumulating gold to offset currency debasement, the more likely scenario appears to be rising silver.  Considering gold at $1315 today that means silver would have to be $87.67 an ounce.  

Personally, I believe if the silver price does catch up to its historic ratio to gold, it will not be until both reach bubble proportion.  Nonetheless, silver has some catching up to do, meaning a well diversified savings and retirement account should maybe have some.

For great on-line gold coin and silver coin prices, visit LearCapital.com and compare.  There you will not only find low buy prices but you will find current sell prices as well. 

“….gold is a better investment than the dollar despite it hitting a new record, Tom Winnifrith, CEO at financial services firm Rivington Street Holdings, told CNBC.com Monday.”

It is most interesting to weigh the evidence lately. Owning gold coins is viewed as a more practical investment than dollars. Unfortunately, this is what happens to debtors. "Practically Owned" becomes totally owned. Own an asset - not a debt. Buy gold from Lear Capital!