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The New Gold Rush: Insurance Against the Collapse

from The Sovereign Investor:

I get this question all the time from people: Why should I bother owning physical gold or any other precious metal like silver or platinum?

What’s my answer? I tell them owning precious metals is an insurance policy, plain and simple. And with central banks doing what they do best — dropping interest rates down to zero and putting the money printing presses into overdrive — boy, do we need some insurance these days.

Think about it. Let’s use another kind of wealth protection — fire insurance — as an example.

Records from the National Fire Protection Association tell us that, back in 1977, there were more than 723,000 house fires. A decade later, thanks to the increasing use of smoke alarms and flame-retardant building materials, the incidence of such blazes fell by 25% to 536,000 house fires. Nearly four decades afterward, and the number of home fires continues to decline by nearly 50%.

Yet we continue buying fire insurance for our homes (and renter’s insurance if we’re leasing). Why? After all, the odds of having a fire are lower now than they’ve ever been.

Our reason can be boiled down to three words: Just in case.

Gold Is Wealth Insurance

We don’t know when a stove might be left unattended just long enough for a grease fire to start. We don’t know when a bit of electrical wiring might short out, sparking a blaze inside of a wall.

That’s what insurance is for. Our homes are a valuable asset, and we want to protect them.

But what about protecting the rest of our wealth-related assets?

That’s why precious metals like gold, silver and platinum command our attention in these uncertain times. Perhaps that’s why a number of central banks around the world have sharply stepped up their purchases of gold bullion.

Read More @ TheSovereignInvestor.com

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