In yesterday’s blog, we discussed the motivations Kevin Miller, a KCM Crew member, had for purchasing a home. Though we didn’t receive any public disagreement on the wisdom of Kevin’s decision, there were several people who privately expressed their concern for Kevin. They questioned whether it was wise to purchase a home with such economic uncertainty in the world today. With economic Armageddon possibly around the corner, shouldn’t he invest in a more liquid asset such as silver or gold?
These emails reminded me of 2007 when I walked into a precious metal dealer and explained I wanted to purchase a rather substantial amount of silver and gold because I believed financial catastrophe was upon us. The dealer paused and said:
“Mr. Harney, silver and gold are both great investments. However, if you truly believe the financial world as we know it is about to end, you should buy whiskey and shotguns. They will be the only things of value.”
If you think the world is about to come apart, I think that same advice is applicable.