The real cost of owning gold
For some investors, nothing captivates like gold. But ownership comes with considerations that don't encumber other asset classes.
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Gold is real money, with intrinsic value. It is expensive to mine, and to refine, and it is rare.
Money is used as a means of exchange more efficient than barter. This is why money exists.
People buy gold to protect themselves from inflation (expansion of money supply), and the erosion of purchasing power it creates.
People also buy gold when government's usurp power, create unjust laws, regulations, and taxes.
Warren Buffett said it best, would you rather own 1 million dollars in gold, or invest that much in companys that produce a product that people need, food, water, i.e.
What will people seek out in a crisis, the necessities of life or more gold? How much is gold worth in a
situation where water is in short supply?
The price of precious metal is driven by the very people who sell it, they play the "fear" game for their own gain. Don't play & watch the price drop to where it should be.
If you buy gold, take immediate possession of it and just put it some place NOT in a bank. Using a little imagination, until the crooks can read minds, any place that is a secret to you is safe from them.
In an economic collapse, the only financial instruments of worth would be gold and silver. Socrates' statement was ridiculous. This was a hit piece on buying/holding gold and silver. Most of the 13 reasons were heavily dramatized, and a good number of them were pathetic, like the "anxiety" of holding metals. Like there's no anxiety holding a 401k or stocks or bonds? Pulleeze.
I cashed out my retirement instruments in 2001 and bought gold and silver coins and silver bullion bars. I'm doing fine. I possess it. When the financial doodoo hits the oscillator, I'll have something to make a play with. Will you? And, yeah, a financial collapse is coming to a neighborhood near you. I like my chances.
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