Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Chad Venzke, who was profiled by Bloomberg, posted a how-to video on YouTube on how to bury gold in your backyard.
“If you don’t own it physically, in your hand and easily accessible, it’s a high percentage chance that you don’t own it,” says Venzke in his YouTube video.
The recent market turbulence and the general fear regarding the economic outlook is causing some people to cling to gold more tightly. Venzke’s video has had over 8,000 views.
Venzke asserts that recent legislation passed by the U.S. congress makes it likely that the government could declare the contents of a safety deposit box contraband, and the contents could be confiscated during a state of emergency.
“I have mine in three strategic locations that is very easy for me to get to, 3,000/oz per location,” says Venzke, who doesn’t want to have all his eggs in one basket.
“Buy a 10 foot piece of PVC piping and buy a large diameter, cut off the ends and get a hard compound glue specifically for pipes and put a cap on it and bury it three to four feet.”
2 Comments
Marybus08
Your video is very intuitive because where we focus our attention is where our future will be. Your advice is wise, out-of-the-box thinking and I perceive it the truth. Investors are manipulative and misleading the general public down destructive path, line their “speech” with lies and deception.
Mrkhrdr
I agree with Marybus08 in that this is thinking out of the box. But I would fear someone with a metal detector when you’re out of town, at your claim for instance. One partial solution – bury decoys. Identical PVC pipes filled with lead shot or some such thing. If you’re as forgetful as I am, you probably will keep a map of the real locations (“X” marks the spots 😉 ).