You probably don’t think of owning gold as a potential life saver.
That’s understandable because the talking heads on TV tell you that “Gold is no longer a viable asset.”
Do you think they’re taking into consideration that since 2008 China has purchased/accumulated over 16,000 Tonnes of Gold*? (That’s equal to most of the global production).
Or how about the fact that Russia’s gold reserves have increased over 500% since 2006?
(* China’s “official” government listed gold reserves are less than 3,000 tonnes. Note, most of China’s gold comes in through Hong Kong and is not reported as “Official.”)
What do these countries know that we don’t?
They know that gold’s primary role is not necessarily to make a fortune. It’s mainly for wealth preservation. And it’s the best insurance policy against collapsing governments and currencies.
Let me give you three current examples:
Since May 2018,Turkey’s lira has been spiraling down. However, at the same time, the value of gold in Turkish lira is up 26%.
Since December 2017, Argentina’s peso has been clobbered as well. But the purchasing power of gold at the same time is up over 74%.
The recent collapse of Venezuela’s bolivar is freakish. Millions are starving and there is a mass exodus to neighboring countries. However, anyone owning gold in Venezuela has seen it’s purchasing power increase a mind-boggling 2.3MILLION%.
These three countries are glaring examples of why gold is so important.
You’ll likely find that anyone owning gold in these countries consider it a life saver for their families.
You don’t need lots of gold to protect yourself, but you should own some.
And be sure to take possession of it. (Read, “Gold, if You Don’t Hold it, You Don’t Own it.” HERE).