Nice bright shiny yellow metal.
It’s a tried and tested way to protect yourself from eventual calamity that the worldwide financial system will deliver at some point in the future.
Jim Rickards – the financial intellectual heavyweight who predicted the great recession – is an exponent of owning gold if you are a citizen of the world.
It is hard to disagree with Rickards when he argues that the sovereign debt mountain is so high and the fiat status of currencies is so extreme that the gold price is set to rise to as much as $10,000.
People, corporations and governments around the world have already begun to lose faith in the integrity of the value of the dollar and it’s status as the world’s reserve currency
Some countries have even banned the use of US dollars for international trade and transactions because they do not want an excess of US dollars sitting in their bank accounts.
The reason for the loss of faith is that the US dollar has been debased to the extent that it now resembles nothing more than bytes on a computer screen rather that an honest IOU or store of value.
The privately owned American central bank The Federal Reserve have been increasing the supply of US dollars do so by printing it to pay for the economic damage that they created in 2008, 2000, 1990’s, 1987 in every decade since it’s creation in 1913.
This increase in the money supply has been in the trillions, devaluing it, grinding it into the floor.
The value of gold – which I admit can be manipulated – cannot be manipulated to the same extent as fiat currency.
Central bankers simply cannot turn on a gold printing press as and when they feel like it which makes gold the ultimate store of value and protector of wealth.
For ways to gain exposure to gold take a look at this article from The Telegraph.
For a more scholarly and concise account of the debasement of currency, the impending financial doom that it creates and why you owning gold is simply just smart investing take a listen to this podcast.