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Letter Re: Karatbars

Hugh, I love your site and read it almost daily. I was wondering if you know anything about Karatbars? One of my coworker’s pastor is promoting them. The ones he has shown me look like gold leaf on a business type card. Is this worth looking at, in your opinion? It’s European Euros currency exchange from what I see. Thanks for your time and input.

HJL’s Comment

Karatbars is nothing more than a multi-level marketing scheme. As I write this, you can purchase 1 troy ounce of gold from APMEX for $1294.49. Karatbars is selling 1 troy ounce of gold for $2090 if you buy in bulk (100gm for $6270) or $2262 if bought by the 1gm bar. You can get better pricing by buying into the multi-level marketing, but they are still way over-priced. In addition, their product is an “unknown”, as there currently isn’t any convenient way to verify authenticity if TEOTWAWKI [1] happens. I would stick with standard products in standard denominations. If gold is too pricey, look to silver in the smaller denominations. I wouldn’t touch Karatbars with a “10-foot pole”.

For information on trading in precious metals, you might consider this article on SurvivalBlog: Trading in Precious Metals, by Kestrel [2]

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Comments Disabled To "Letter Re: Karatbars"

#1 Comment By Joe On May 2, 2017 @ 11:14 am

The real sad part about this MLM scheme is the following – “One of my coworker’s pastor is promoting them.”

#2 Comment By Sam On May 2, 2017 @ 4:54 pm

Yes, beware of any “pastor” or other person claiming to be a leader of believers who is selling any kind of MLM product! 1Tim 3:8, Titus 1:7, 1 Pet 5:2.

#3 Comment By Hugh James Latimer On May 2, 2017 @ 10:25 pm

I don’t begrudge a pastor who is bi-vocational, nor to I necessarily have issues with MLMs. However, an MLM that sells a dubious product at at a 50% markup over market value is an issue. This is clearly “fleecing” in my opinion. Not to disparage either career, but I sure hate thinking of my pastor as a used-car salesman, overpricing a poor product to make a buck. I’ll give the pastor the benefit of the doubt and make the assumption that he really believes in the product. That doesn’t make the product any better. Karatbars are not the only overpriced non-standard product out there either.
The sad part is when the buyers try to cash them in or use them when the time comes. They will only be seeing about 60% of their investment. That’s a pretty poor return.