Do you trust your (any..) government and the media when they tell you that “green shoots” are appearing, with respect to the state of the world economy?
If you do, then relax, feel safe, reassured and be happy – this post is not for you.
Otherwise, you will need to be thinking about ways in which your money, your savings, especially, can be protected. In the era that had become the norm since before the 1970s, financial ‘experts’ succeeded in convincing everybody that recessions were simply minor irritations that would pass very quickly, because new methods were in place to prevent them, or lessen their effect.
It is probably quite obvious to you now, or becoming so, that your own commonsense understanding that one cannot borrow oneself out of debt, or become wealthy by borrowing is correct.
Without getting into lengthy economic and financially oriented discussions, you should realise that holding something that is universally regarded by the rest of humanity as valuable is a good bet.
Gold is that ‘something.’ Diamonds? Yes, but you need to know your diamonds, so as to avoid getting ripped off. The same goes for stocks and many other forms of investment, how well do you really know that niche?
Gold is simple, obvious and easy to test and trade – why do you think it was used as money for thousands of years? Click on the Bullion Vault banner, it will definitely be worth your time! You’ll learn all about why many people are now turning to man’s oldest form of money once more and of surprisingly easy ways that you can join in.
Paper money is really only ‘Funny Money’ – it is based on the trust that everyone has in the issuer(s) of those notes. For one thing, gold is a hedge against inflation. As with anything, one can speculate on gold, but its real value is in protection of whatever you might have in paper.
Several years ago, it would have been unthinkable that a superpower such as the U.S.A. could ever be in danger of defaulting on its debts. Many countries in Europe are also in trouble now, including the U.K. This sort of situation can lead to hyperinflation, if a country tries to print money, in order to extricate itself. It has happened before and can do so again. Moreover, when it does happen, it will be fast.
Consider this, if you had, say 10,000 in the bank (lucky you!) and inflation rose in the same way it has done historically, Germany and more recently Zimbabwe, then people won’t accept your ten thousand promissory notes at anything like their face value, anymore. The people who actually had barrow-loads of money to burn to keep warm were the lucky ones – imagine the options for ordinary people who usually find themselves with a zero balance at the end of the month…
Compare that to a situation where whatever you have in terms of gold will still trade at whatever the seemingly ridiculous figure happens to be, in a hyperinflationary scenario.
Don’t waste time. The sooner you begin saving, the more protection you’ll have. Moreover, this is trading online, so the price is updated every ten seconds. Your bank will probably cause a one, or two week delay in obtaining money for any gold trade you make, so that’s all you’ll need to plan for. Think about it.
UPDATE: BullionVault now says you should get your money the next business day! Now there is really no more reason to sit on the fence! Stop sticking your head in the sand and start buying up some protection. Nobody is saying that you should take ALL your savings and buy gold with them, the gold price fluctuates like any other, but a certain percentage is certainly prudent! Act NOW!