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Why the 0.1% don’t want you to own gold.

the one percent

By the 0.1% I mean, of course, the ultra-wealthy.

This is not the same group as the 1%. The 0.1% play at an entirely different level.

These are the folks who are worth hundreds of millions of dollars, and sometimes billions. They use their money to buy influence at every level of government. Their financial contributions to both political parties in the US ensure their voices are heard and their wishes followed.

Everything they do is to their own advantage. They represent only a tiny proportion of the country’s population, but wield a disproportionate level of power.

But whatever their power, and whatever the separation they feel between themselves and regular folks like you and me, they ultimately depend on us.

How come? Because we live in a consumer society, and it is our insatiable level of consumption that brings them their riches. Every time we buy a mortgage, buy a new car, buy a new smartphone, buy groceries and buy gas, we are putting money in their pockets.

The foundation of all their wealth lies in how much you and I buy at the store. Their wealth, power and influence depend on the overall level of consumer spending. If we buy less, they earn less.

That’s why they hate it when we buy and own gold.

How come? Because when we spend money on physical gold, that money is out of their reach. It’s money we can no longer spend at the store. It’s money we don’t spend on the brands and with the companies these people own.

Nobody wants us to buy gold. Not the 0.1%, not Wall Street and not the government. They want us to spend all our money on stuff from the store, to keep feeding the consumption treadmill.

So you have to ask yourself – do you want to protect their wealth or your own wealth?

If you want to protect your own wealth, spend less on junk you don’t need, and more on physical gold coins and bars you can own.

When you own gold, you have a store of wealth you can depend on.

About the author: DH Kenrick is a student of world economics and a committed gold enthusiast. 

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