If you’re one of those people who believe in the “I can’t eat it, so it’s not worth buying” philosophy in light of the approaching crash of the economy, you are going to get one hell of a wake-up call. Throughout history, the economy has crashed and come back up, and it’s gold that has sustained people.
On October 31, Gold prices dropped down to a record low since June 2010. This was because of the increase in demand of gold (and other precious metals) since everyone is noticing the impending doom and doing something about it. This crash is the perfect time to buy gold because the prices will rise again (like Sauron) and then you would have an extremely expensive and profit making commodity in your hands – right where you can see it.
Currently, experts believe that gold will first crash and then it will skyrocket (or maybe it is the other way around, it never matters with Gold anyway). The point is, if the economy collapses and you still want your executive service to continue, riding around in your corporate limousine service to airports and lavish business meetings, you had better start hoarding gold. If you think that the financial crash of 2008 was bad, wait till you see the next one – it would be worse. At that time, you would be sitting on your gold chair, eating cereal from your gold spoon, checking if your gold tooth is coming loose, and thanking your stars for investing in gold.
Sica Wealth Management’s CEO agrees when he says, that the short term prospects of dollar are good and those of gold are bad. However, he also says that for the economic turmoil and uncertainties, there is no better hedging option than gold.
As you read this article, the wealthy are buying gold’s 400 oz. bars and the rate has doubled from last year. In the last couple of years, the gold reserves of Russia and China have sneakily increased. Obviously, these sleuth smart countries know what is about to come but they are not going to broadcast it in bold letters and anime graphic art. When you actually realize that you need gold since the economy isn’t going to help you eat, it would be too late. The gold sellers would have transformed into fanged Shylocks, all looking for a couple of pounds of your flesh.
Forget CNBC laughing on claims about the approach financial apocalypse, the money in the banks of the rich and wealthy is, for all intents and purposes, already on the devaluation path. The unemployment rates after the next crash would scare the living daylight of your parents but they, wise that they were, stored up their investments in gold.
If you don’t believe this, be prepared to move back in with your parents after the crash.