from Birch Gold Group:
My friends, today I want to talk to you about something I’ve owned for decades and believe in strongly: physical precious metals.
Our global economic system is astonishingly complex, highly interdependent and incredibly interlinked. These have been touted as benefits! We’ve outsourced most manufacturing to third-world nations in the name of cost-cutting. Even a “Made in the USA” Ford F150 is built from ⅓ imported parts.
On the other hand, that complexity and dependence also means the global economic system is fragile. All too recently, we have seen firsthand the devastating consequences of a financial crisis and how it sweeps around the world faster than Covid.
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Today, it’s more important than ever before to protect ourselves and our families from the contagion of the next financial crisis. From the roller-coaster volatility of the financial markets. From the fragility inherent in the massively complex global economic system.
Gold is the opposite of fragile. It is a solid, stable asset that has been relied on for thousands of years – as a store of value, as a medium of exchange and as a safe haven asset during political and economic crises.
(In fact, global central bank gold buying is at a 7-decade high, a clear indication not only that I’m not the only one aware of how fragile the system is! And also that gold is a reliable store of value.)
Unlike paper currencies or digital assets, gold is tangible. You can hold it in your hand. There’s no balance sheet or profit-and-loss statement. There’s no fudging the numbers – what you see is what you get.
Now, personally I own gold as a form of long-term financial insurance. In fact, I began buying gold back way back in the 1960s, before it was technically legal. The price was just $35 an ounce back then. I’m sure glad I did! I only wish I’d bought more.
Here’s what I believe: by owning gold, I’m protected against inflation and the ongoing, frenzied money-printing that devalues the dollar.
We’ve seen dozens of instances of “fiat money” regimes collapse around the world. When paper currencies are worthless, gold has always been accepted as a form of payment. It is the one asset that has always been accepted by sellers since the beginning of human civilization – even today! Does that sound outrageous? See, for example, Bloomberg’s report about Venezuelans using gold to pay for lunches and haircuts. Or the Goldback, an extremely popular self-backing form of money.
Gold is an honest asset, unlike the financial instruments that have caused so much chaos in our economy in recent years. When you own a gold American eagle, you know exactly what you’re holding. There are no derivatives or credit default swaps to worry about, just a miniature work of art that will hold its value for generations to come.
So my fellow Americans, I urge you to consider adding gold to your savings. I don’t believe the world’s gold should be in the hands of billionaires and central banks any more than I believe the world’s guns should be in the hands of soldiers and police. It’s possible, even easy, to diversify your savings with real gold and silver.
Physical precious metals are a reliable store of value that will protect you and your wealth against many of the problems that plague financial markets. As I said before, I see it as a form of long-term financial insurance, and I’m sure you will too.
