Why own gold?
gold metal detector
Why own precious metals? Precious metals are the only currency to own when central bank printing presses are debasing global currencies at a historic rate. And because they are a proven store of value, precious metals may be the only asset class that will preserve your portfolio’s purchasing power as we enter into a prolonged period of deflation, stagflation or inflation, one of the latter two being much more likely.
Precious metals have successfully preserved wealth for thousands of years because, unlike stocks and bonds and paper currencies, they are not someone else’s promise of performance and they are not subject to the whims of the printing press. Massive credit expansion in the US has led to a total ‘official’ debt of $10 trillion, but if we add the $50 trillion in unfunded pension liabilities and Medicare obligations that the US owes its citizens, actual debt is a staggering 400 percent of GDP. America’s spiralling debt crisis is leading many experts to consider the previously unthinkable: that the US might become the next Argentina.
gold metal detector
The reason gold is the ultimate store of value is because it can’t be printed or destroyed. Yes, it’s inflexible. That’s the point. It constrains the natural tendency for humans to exhibit herd behavior at the extremes of greed and panic
Gold belt buckles
Gold is a store of value and there is plenty of it to back a currency. It worked well for decades. The only reason we left the Gold standard is because the Nixon administration printed excess dollars to finance the Vietnam War, and foreign governments redeemed these dollars for gold drawing down our gold reserve rapidly. Wars are highly inflationary just like now.
Prospecting Equipment