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Video: The BS Your Financial Advisor Wants you to Believe

ric edelmen
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EDITOR NOTE: Like all financial advisors, Ric Edelman will not support any asset that falls beyond most mainstream approaches. Some of what he has to say is true--such as gold and silver’s role in diversifying a portfolio. But if you listen to his rhetoric, he downplays the metals, almost equating “zinc” or any other industrial commodity with the yellow and white metal. This view is misguided. You can’t compare zinc with two “monetary” metals that once backed currencies. Central banks that are looking to diversify their reserves are accumulating gold, not zinc, not copper, nor anything else other than “money,” which gold is. Let’s imagine that the US does fall into hyperinflation. Let’s imagine further that you have goods to sell. Two people approach you to make a purchase. One offers gold and silver, while the other, perhaps Edelman himself, offers you copper wire and zinc bullion. Whichever “money” you accept will likely be a currency you’ll have to use in the future to make a purchase. Which buyer would you choose over the other? Unless you have a functional need for copper or zinc, you’ll likely choose gold and silver. In short, Edelman’s thesis is nothing more than mainstream bullshit.

Is gold the right investment for you? Investment advisor Ric Edelman explains how to approach investing in this commodity. 

Originally posted on Ric Edelmen

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