subject: Gold And Silver, Safe Havens in a Turbulent World [print this page] Gold And Silver, Safe Havens in a Turbulent World
Gold and silver have always been a safe haven for people's wealth regardless of whether there is turbulence in the markets or not.
For thousands of years, gold and silver by the very fact that they are a rare commodity makes them valuable, and the fact that when gold and silver deposits are found, it takes a lot of effort and ingenuity on the behalf of us humans to get them out of the earth.
As witnessed by the many treasure hoards found around the world, buried by a long dead person the gold and silver hoard was meant to be left in the ground, to be recovered later if the need arose.
It was the ancient version of wealth protection, and it has never been truer that it is today.
Stock markets around the world are feeling the stresses and the strains from the (possibly) organized banking crisis; on top of that there are the small issues of manmade and natural disasters that occur not infrequently to upset the apple cart, and the odd theater of war here and there.
Is it any wonder then that in this, the second decade of the 21st century, that investors are placing more and more of their liquid assets in gold and silver, and additionally more and more of their faith in what has been a safe haven for thousands of years.
The paper currency experiment, of which this modern version is the most recent, is an experiment which is doomed to failure because governments that control the flow of, and incidentally the manufacture of money, openly abuse this most fundamental of modern innovations.
In the modern "global village economy" stress in one part of the village economy can affect the rest of the village almost instantaneously and the possibility of keeping the old fixed rates of exchange between currencies and also at the same time keeping the national currencies tied to the gold standard had to go out of the window.
The last bastion of currency morality was destroyed when "tricky Dickie" withdrew the US dollar from the gold standard in 1973. The rest is history and with the federal reserve the biggest offender in printing money to pay off debt, is it any wonder the dollar devalues constantly, and the rumblings of the US dollar being "dumped" as the global reserve currency grow ever louder and stronger.
