Gold Investment Advice – Should You Be
Buying Gold For Your Survival Kit?
The Dynamic Wealth Report
January 31, 2011
These days the news is filled with stories about gold. The yellow metal
had quite the run in 2010 and it’s drawing a lot of attention. Many
investors are looking at adding gold to their portfolios.
But before you do, you need to be careful.
Die hard gold bugs and old-school survivalists often insist on
personally holding a healthy stash of gold and silver. They stockpile
small bars and coins… and they keep it next to their guns, ammunition,
and emergency food rations.
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They’ll tell you to do the same… but be wary.
Their logic is well thought out… If the world ever “blows up”, most
government currency is going to be worthless. They argue stashing away
rolls of US $20 bills is like burying food in your backyard. You might
think it’s a good thing to have, but it will be worthless when you dig
it up years later.
The gold bugs and survivalists say in an economic collapse the only
thing of value will be hard assets… like gold and silver.
You’ll need those bars of gold and silver coins to buy the basics. They
insist you should have a stash of gold and silver on hand for every
member of your family. And it needs to be someplace you can easily
access it.
But I don’t buy it… and neither should you!
Think about this for a moment. If the US government was to collapse and
the American population does go crazy, the US Dollar might be worthless. But the gold and silver stash you’ve worked so hard to accumulate won’t
do you much good either.
Nobody’s going to be working down at the local Safeway grocery store.
Nobody’s going to be working period.
So who do you expect to trade those nice gold and silver coins with? Who
determines what they’re worth? If you’re starving, a morsel of food
becomes the most valuable thing in the world.
You’d trade all your gold and silver for one meal. And one meal won’t do
you a lot of good.
Now, let me say this… I’m not expecting the world to implode. I’m not
expecting the dollar to be devalued. I’m not expecting the American
economy to collapse.
As a matter of fact, I think just the opposite.
I see the global economy recovering.
The US economy is starting to grow.
And I see commodity prices jumping higher on huge global demand.
And it all points to a big problem… inflation. The Fed’s pumping another
$600 billion of easy money into the economy. And it will create
inflation. The cost of everything is going higher…
We’re seeing early signs of it now.
The riots in Egypt are caused (partially) by food inflation. China’s
increasing interest rates to keep their inflation in check. And, the EuroZone is starting to talk tough about inflation.
It looks like the only people who are blind to this runaway freight
train is the US Federal Government… specifically the Federal Reserve. They’re standing on the railroad tracks and don’t see the runaway train
barreling down behind them.
The Fed is going to get run over by inflation.
We’re going to see the price of every hard asset jump in value. It’s not
going to be just food. You’ll see the cost of homes and automobiles
jump. Equipment, furniture, medical care, and all other services will
start going up in price. Gas will cost more. Food will cost more.
But the real problem will be pay.
Your income will not keep pace with inflation. It always happens, the
cost of living will move up faster than your paycheck… and everyone will
be squeezed.
This coming inflation is why you should own gold and silver…
But don’t buy it for your survival kit. Buy it for your investment
accounts. Once inflation starts running over people, the value of hard
assets will jump. And the value of gold and silver will jump too.
I think the best way to own these commodities is with Exchange Traded
Funds (ETFs).
There are a number of them out there. Just make sure the one you buy
holds onto the actual commodity. It’s a great way to profit from the
coming inflation… and best of all, you won’t have to draw a treasure map
to find your hidden stash.
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Oil prices have been volatile lately. However, the consensus is energy
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