Gold Is the Type of Insurance Most Don’t Have
Many people buy insurance policies on their car, home, and health, and of course hope to never utilize it. For most of us, it is money that is thrown away to the insurance companies that take the risk so that a few benefit by filing a claim when needed.
Gold is also insurance that you hope to never utilize. However, one difference is that it can never be money thrown away. It is literally money you have in your pocket that you can utilize to pay for things, exchanged for the scrip of the day.
What gold also represents is insurance against a government system that can implode quite quickly. A reminder; this has occurred with every single currency throughout the history of mankind because of Government.
There are times to hold gold and times to sell it.
This has been true throughout it’s separation 48 years ago from the dollar when Nixon took us off the gold standard
From 1971-1980 it was a hold.
From 1980 to 1999 a sell.
From 2000-2011 hold.
From 2011-2016 a sell.
From 2016-20?? it is a hold and we should have a minimum of 9 years of bliss for holders of metals, so till about the year 2025.
Gold is not an illusion of wealth. The dollar is. Each time one has held gold for profit after buying the dip has been about 9 years, sometimes longer. I expect the same now.
One thing that most don’t realize here in the U.S. is that it’s not all about the dollar buyers of gold. Look at what has occurred the last 6 months and 5 years with the price of gold in other major and minor currencies. Maintaining purchasing power with gold is not just a U.S. centric insurance issue.
The last 6 months Gold is up the following percentages by country;
8.63% Swiss Franc
8.86% Canadian Dollar
7.45% British Pound
9.70% Euro
6.91% Yen
11.87% Russian Ruble
11.33% Australian Dollar
12.23% Mexican Peso
9.03% S. African Rand
13.24% Indian Rupee
The last 5 years it is up and 15.52%, 23.57%, 30.62%, 23.71% and 12.25% for the first 5 countries while up 96.86%, 29.30% 50.20%, 27.37% and 19.90% for those last 5 countries.
And many still think gold is doing bad? It’s just that gold in the last 5 years is only up 4.30% in U.S. dollar terms. If the U.S. has 1/3 the total world wealth, then 2/3 of the world is also looking to protect their purchasing power with that little bit of gold that fills up Warren Buffet’s pool.
Source: https://buygoldandsilversafely.com/gold/gold-is-the-type-of-insurance-most-dont-have/
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