Perhaps, you own very little gold. In general, international buyers appreciate gold’s value more than most Americans do. Many outside the U.S. have learned to distrust paper money from experience.
People from all over the world used to sit at my desk and tell me their survival stories. They all understood the insurance-value of gold:
- An old German woman fed her family during wartime by selling her gold bracelet— one link at a time.
- A young man paid his University of Washington tuition by selling the gold Pahlavis he had smuggled out of Iran.
- A Vietnamese man bought freedom for his family by bribing officials with gold taels from Phnom Penh— 20 oz. per child.
PAPER MONEY FAILS IN
TIMES OF EXTREME CRISIS.
Only real money has value when economies and markets are disrupted. Gold and silver coins can always be traded for goods and services. On the other hand, paper money fails during times of extreme crisis. History is replete with examples of paper currency failures.
“All paper money eventually returns to
its intrinsic value. Zero.” Voltaire
You may have never considered the possibility the dollar could collapse. At a meeting of the respected Committee for Monetary Research and Education in New York, noted analyst Victor Sperandeo -Trader Vic- spoke on the Inevitability of Hyperinflation. Only one person at the conference disagreed.
By Denise Rhyne