Loading ...Why I see gold as insurance against possible disaster. My comments refer to bullion only, as I think all paper “assets” will eventually burn.
Gold has maintained its value throughout the last 5,000 years. It retains its value not only in times of financial uncertainty, but in times of geopolitical uncertainty, which is why it is referred to as the “crisis commodity.”
Central banks around the world have sharply stepped up their purchases of gold bullion these past few years. They see the hand writing on the wall.
Federal budget deficits remain a serious problem, growing exponentially by the year.
It is a way to pass on and preserve wealth from one generation to the next.
And then there is the wisdom of the most intelligent woman in America, Catherine Austin Fitts:
Investment banker Catherine Austin Fitts sums up the historic global financial problems by saying, “We have a group of people who have the power to act with impunity. They are above the law. They are centralizing and consolidating economic and political power. We have a political problem. We don’t have an economic problem.” Fitts’ analysis shows, “We’ve been on a debt model, and now we’ve got to get the planet on an equity model. . . .You are going to do everything you can do to get people into equities. Slamming precious metals down helps do that.” But Fitts says that won’t stop the gold bull because China and the rest of the world are buying the yellow metal. Fitts contends, “What that means is there is going to be a much more broad-based bull market in gold. . . I think it’s going to more of a sound money system, and gold is going to be a part of that.” Not everybody wants to be brought into the so-called new world order. Fitts predicts, “Remember, to come out with a one world currency, you need everybody. There can be no leakage. There can be no exceptions. The Russians are determined to be the stinker at the party is what I think.”