Sure, buying gold bars definitely makes sense if the United States were in real trouble, but what is the worst that can happen.
Posted by Adam King on May 27, 2011
Loss of wealth is too great a risk not to hold a strong reserve of physical gold bullion.
May 27, 2011 – Sure, buying gold bars definitely makes sense if the United States were in real trouble, but what is the worst that can happen. A couple millennia ago the Romans were asking the same question.
It seems that the excesses of the emperors was catching up to them and the government needed a way to come up with some quick cash (sound familiar?). Unlike with our fiat money today the Romans couldn’t just print more paper, but they could do something with the same effect.
At first the Romans only gradually diluted their coinage by reducing the content of their base metals. It took 175 years to cut the coins’ true value in half. But from that point forward, in just three decades their value plummeted to less than 5%, and the fall of the empire was on an irreversible course.
If the timing rings a bell it is because it is not much different than our own. It seems odd that two thousand years’ of the same folly has taught us nothing, but the same irrational thinking now has the American Empire teetering on the brink. There is absolutely no justification for believing that this time the outcome will somehow be different.
True, times change and empires don’t topple quite so easily these days. But don’t forget the Soviet Union. It can and will happen here, it’s only a matter of time. Nobody can say what the fall will look like or what it will mean for the average American, but two things are certain: The trumped up wealth built on a currency conjured up out of nothing will cease to exist, and wealth stored in gold bullion will endure.
All of the investments in the world will amount to nothing when they are tied to a worthless currency. Returns paid in worthless currency are meaningless. The only thing that will matter in the very possible eventuality of total currency collapse is having a reliable medium of exchange to provide life’s necessities.
Nothing anywhere throughout history has equaled the wealth preservation inherent in gold.
Stewart Lawson
Senior Staff Writer – Certified Gold Exchange
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US Gold Market
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