Monday, November 14, 2016
Why I cancelled The Bauman Letter
I signed up for The Bauman Letter, edited by Ted Bauman and read it for a few months. His father is a well-known member of The Sovereign Society and Ted contributed for years.
I like Ted's writing style and read his letter for the nuggets of information I could glean. One month he recommended a company in Australia for holding my gold. If I had a hundred grand in gold, maybe I'd go that route. Then again, maybe I'd bury it in the back yard like the old Romans.
I cancelled his newsletter after reading his October issue.
Ted posted ten pages of glowing prose for the 1291 Group of the Americas. I was impressed by his report and thought this might be a company I could park my IRA with and not worry about it. (We've been burned by local investment advisors who lost large chunks of our investment and still took their overly fair share of fees, so we're hyper-cautious.)
Ted especially praised Erika Nolan, the CEO of this prestigious firm.
Ted forgot to mention that Erika Nolan worked for The Sovereign Society for sixteen years. Wouldn't you mention that an ex-colleague runs an organization like this? The other two partners in the firm worked together elsewhere before joining Erika at 1291 Americas.
Oh, and their office is in the Bahamas. They specialize in ultra-high-net-worth individuals. According to Credio, 1291 Americas has an average investment account of $2 million - and a total managed investment of $4 million. Doing the math, that means they have two clients.
Thanks, Ted, but I decided your advice just doesn't apply to me. You seem to have no concrete connection to the average joe on the street who needs the investment help. Bye-bye.
Why is it that all the financial newsletters seem to think everyone is a flippin' millionaire in the USA? Keep a hundred thousand in gold. Buy a few overseas properties for three hundred grand apiece. Invest in paintings or stamps or wine or some other collectible. Get another passport so you can escape the US in time of need. That means buy another house in a foreign country and qualify for the Visa there, which is tons more money!
Folks, can't you give advice to normal Americans that live from paycheck to paycheck, or to old retirees (like us) that live on our savings? I guess not.
The news of the imminent collapse of the US economy is posted everywhere on the World Wide Web. Porter Stansberry is a fun read. If you sign up for anything on his web site you will be bombarded with advertisements for investment newsletters of all kinds - all of which belong to his huge group. He's a rich man off people buying his investment letters, and he wants to keep it that way.
Honestly, I have subscribed to half of them over the years and cancelled every one of them. The way they do their math is crazy. When I showed a gain of about 6% on their recommendations, which isn't bad, they reported it as a gain of 16%. I blame the new math in our schools.
I like to read Bill Bonner's take on the US as well. His major warning of the Deep State running this country rings true. I'm not sure I disagree with him.
Of course, I'm not sure about those videos and photos showing alien structures on the Moon, either.
At least Bill is honest about it all. He writes from his wine farm in France and his cattle ranch in the mountains of Argentina and lets us know what the average American will face in the frightening economic future of the USA.
So I am concerned over the state of the US economy, and I have been for a while. Darling and I even published a book in 2013, Preparing for the Fiscal Cliff. It's free for Amazon Unlimited customers, and only 99 cents to buy the e-book. You'd think it was outdated, but the issues still remain, kicked down the road by a Congress that does little to support the ordinary citizens of the USA.
I keep reading the newsletters. Darling and I visited Costa Rica, Ecuador and Panama this year to see if we might want to relocate, but we think not. I'll give more details on that in another post.
Posted by Vince