Investing in Gold; Why it's probably a bad idea. (A note to Dan Dicks of PressForTruth and all the people of North America)
In today's world of uncertainty many people are looking for ways to provide themselves and their families with some security for the future. And to be honest, it's probably a good idea.
However it seems to me, if there are any simple rules of thumb that are believed to be wisely implemented tools when considering any investment one of them should be, "If scare tactics are being used to sell it, don't buy it!
One such investment in today's world is gold. Usually, these investments concepts are being presented by individuals and entities who profess to be looking out for your best interest. And perhaps they truly believe that they are, however this may not be the case.
Advocates of gold investment come from very specific sectors of society and political ideology and the message is always the same. "The dollar is going to crash and it's not a question of if, but when." Usually this is followed with detailed for-tellings of financial ruin and mass chaos within which the unprepared will suffer unimaginable hardships.
If you listen to talk radio no doubt you've heard the commercials.
Generally speaking most talk radio these days is political and conservatively formatted. The same is true with conservative leaning websites for instance.
I thought I would have a look around the internet at some liberal leaning websites and see if I could find some of the same advertising. Nope! Not there, I didn't find a single advertisement or article proclaiming the need to buy gold before the dollar crashes.
Now ask yourself, are liberals too stupid to see the impending collapse of fiat currencies? All of them? Really? I think not....
Do liberals never prepare for the future nor potentially bad times? Yeah..they do. They just do it differently.
Please understand, I'm not saying gold as a part of a well balance investment portfolio is a bad thing, quite the opposite as a matter of fact. The message is clear from these marketing schemes and messengers of doom that everyone, even those who do not invest, should buy gold or suffer the consequences. This is a scare tactic and anyone who is forward thinking would ask themselves, " if gold investment is such a good thing why wouldn't they want to keep it to themselves?"
I hate to burst anyone's bubble here but gold sales in the USA and Canada are reported directly to the government by the seller. In other words, they know you have it. Considering that a simple gold investment has no immediate tax implications this begs the question; Why would they need this information?
And if you think you have a good answer for that question then ask yourself why it was never necessary prior to the Obama administration taking office and its IRS began targeting conservatives. Magically, the push to have conservatives invest in gold started about the same time as Obama took office.
Currently almost every country in the world is buying up gold as fast as they can. The natural assumption is that this experiment we've been involved in, wherein fiat currency values are essentially baseless, has in fact failed and these countries are positioning themselves for a return to a gold backed monetary system. This may also be fueling the belief that fiat currencies are doomed to fail. Unfortunately for those who have invested heavily in Gold whilst speculating the demise of the western monetary systems, I fear you are making a huge mistake. Have you ever heard the term "history always repeats itself"?
The following is a grab from Wikipedia
Executive Order 6102 is a United States presidential executive order signed on April 5, 1933, by President Franklin D. Roosevelt "forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States".
Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 (consumer price index, adjusted value of $382 today) per troy ounce. Under the Trading with the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, violation of the order was punishable by fine up to $10,000 (equivalent to $185013 today) or up to ten years in prison, or both.
This was a repatriation plain and simple. Canada did the exact thing simultaneously and although both countries claimed at the time to be paying market value, historians have uncovered ample evidence that in fact the gold value at the time was artificially deflated and then returned to it's actual value once the repatriation was completed. In other words they stole everyone's gold using their own tax dollars.
The simple fact is that, governments make law they don't follow it and if you think your not being set up for the largest wealth grab in history you are, I am afraid, sadly mistaken.
Why? You may ask. Well, my friends whether you like the idea or not globalism is likely going to happen. And yes, a one world government as well. And this is a perfect example of why. Conservative minded people are the biggest barrier to progressivism and globalism. Strip this sector of society of its wealth and it become powerless to resist.
It really is that simple...
A note for Canadians:
Canada has recently finalized the complete sell off of every scrap of it's gold holdings including gold coin whilst every other country in the world is scrambling to buy it up as fast as they can. Additionally, although Canada is one of the world's largest producers of gold, the controling interest in this industry has been sold off to foreign investors. It is my belief that the Canadian people are being set up for a "we have no choice" monetary screwing over.
Once the rest of the world returns to a gold standard Canada, having none, will be left with no other option than to adopt a new currency. Perhaps the USD or more likely the "NORO", the fiat currency of the North American Union. A necessary step required to bring about globalism.
A note on cryptocryptocurrencies:
Sadly, crypto cryptocurrencies are based on the same thing as western fiat currencies, nothing. Should a return to the gold standard take place it will essentially create a system wherein everything's value is gold based. Because cryptocurrencies cannot back themselves with gold they will become valueless.
I love the idea of decentralized wealth but sadly nothing will survive the gold standard...
Be safe and be well my friends!