The quick answer to why you should own physical gold is that you can’t trust the banks or your government. Eric Sprout, the billionaire precious metals trader, recently conducted an audit of how much gold the U.S. government has been buying and selling over the last few decades. Here is his conclusion: “We used this …
As you know, Ben Bernanke, chairman of the Federal Reserve, recently outlined his plan for ongoing quantitative easing with QE3. Basically the Fed will keep printing money, pass it down the line to the banks, and then hope it will stimulate some positive economic activity on Main Street. Will it work? Probably not. But we’ll …
National central banks buy gold bullion for the security it provides. While currencies can become devalued to such a degree that they become almost worthless, that won’t happen to gold. Gold prices may rise and fall, but they will never fall to zero. In fact, at the exact time that paper currencies go into free-fall, …
First, let me qualify that headline by saying this applies only if gold continue to at least hold its value. If the price of gold suddenly drops significantly, then your savings will take a corresponding hit. So while using gold as vehicle for savings has been a good bet for several years now, there is …
Don’t get me wrong. I’m not suggesting you follow in Qaddafi’s footsteps. He’s a dictator, and deserves to be pushed out. But there is one lesson we can learn from him. He knows and has always known that things can go badly wrong for him. That comes with the territory when you’re an unpopular despot. …