Arbitrage 101
Gabo discovered the Clipper Magazine coupon book that comes in the mail. He asked for scissors and he started clipping away. He was most interested in all the Gold trading coupons and deals. There are three outfits that will apparently “Pay Cash For Gold”. He started asking me how far East Touhy Avenue, Fox Valley, and Randall Road are from our house. As he can be quite insistent, I told him he could discuss all his money making plans with his dad and then Tom can drive him around if it comes to that.
“Don’t you have any gold to sell mom?” he asks, as he reads that our next mortgage payment can be sitting in “mom’s jewelry box”. I am not selling my jewelry. “Why not?”
With that option off the table, Gabo now plans to buy gold from Roslyn Capital’s 800 number and go see which one of these three stores will give him more money for it. “I am not taking you to Fox Valley to sell gold,” I said. “Why not? They are paying absolute top dollar mom, and this other store will give me an additional 20% more than any other store.”
So I guess he wants us to lend him money to buy the gold from the tv people, and sell it to the store people and return our money and keep the difference. Of course, we have to drive him all over to do this. “Enough of that. Go finish your math lesson!” I beg, again!