For the past few weeks I've been beset by salesmen (sorry, investment advisers) from the Hong Kong office of the Swiss-based financial group Hentsch-Muller. They want me to invest in gold.
Now I don't have problem with gold. It's been one of the safest investments around. In fact I've thought for at least 18 months that gold would reach US$1300 or even$1500 an ounce because of the looming turmoil caused by greed.
But that didn't mean I was interested in investing!
These guys are very good a pushing the buttons which probably work with anyone who is fixated with chasing down every dollar. But they don't undestand "No. I'm not interested"
These scams work brilliantly as long as you keep sucking people in to invest - it becomes self-fulfilling. Until the wheels fall off.
So many people have got themselves into strife in the share market, with futures trading, options and margin loans - and this gold thing is just the latest ploy.
It's all very tempting and the spin is that you can make $30,000 profit in a matter of three or four weeks with an investment of only US$5000.
They think that an added hook is that the profits are tax-free if you set up an off-shore trust account! I wonder how many Australians are being sucked into that one. And I bet that the Australian Tax Office would have a different view.
With the likely continuing collapse of the American dollar, I have no doubt that gold is a tremendous investment. But I'm not interested.
I thought I had got that message over to the Hentsch-Muller guys but I had my third salesman (sorry investment adviser) on the mobile today. I suppose you have to give them marks for persistence!!!!
At least it keeps me amused while I'm wandering around the farm.
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