The Boring Investment
As the global economy started to come tumbling down and most of the world’s financial “experts” were exposed for what they really are, the wealthy – and not-so-wealthy – flocked to gold.
The value of gold isn’t about governments, promises, or trust. It’s about stability. Instead of the classic “In God We Trust” prayer you see on most money, some gold coins were actually minted with “I Will Maintain Purchasing Power.”
Gold has maintained its value for thousands of years. As Bill Bonner points out, “Gold buys [at least] as much bread in 2009 as it did in AD 9.” To quote Ernst (one of the Sovereign Society’s Austrian banking contacts), “In ancient Rome, an ounce of gold would buy a man a tunic. Today, an ounce of gold buys you a nice suit. See, not so much has changed.”
That stability has given gold a reputation for being a boring investment… most of the time. During a crisis, it spikes in value, sometimes doubling overnight.
Does gold make up a portion of your portfolio? If not, you should consider adding it to your investing mix.
[Ed. Note: Eric Roseman, Investment Director for the Sovereign Society (www.SovereignSociety.com), has covered the global markets for 15 years as both a money manager and investment editor. For a report that will warn you of the next great shocks that are about to rock the markets - and show you how to shield your wealth and turn disaster into opportunity in the continued fallout - click here now.
For more "off Wall Street" ideas about where to stow your money, become a member of ETR's Liberty Street League right here.]
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