subject: Precious Metals - Are They The Real Reserve Currency [print this page] One of the biggest financial myths is that the dollar is the world's reserve currency. That's true only if you can predict the future. Nations rise and fall throughout history, and unfortunately so do currencies. They fall along with nations or at least fall with nation's economies. The only real reserve currency is commodities such as Gold and Silver. They have stood the test of time since the beginning of civilization.
Recently when the recent bailouts of Greece were discussed, some Eurozone countries demanded Gold to guarantee their loans. In these volatile markets, where so many economists have been so consistently wrong, the only currency you can really rely on is precious metals and other physical commodities.
Don't allow yourself to be fooled by investment mutual funds and ETFs who say they will invest your money in Gold and Silver. When investing in these funds, you are not buying the actual precious metal, you are investing in the fund only. Your money will not rise and fall with the prices of precious metals, but only with the funds' performance. To buy precious metals you have to actually hold the physical metal in your hand. The golden rule has always been; if you don't have the physical Gold or Silver in your hand, then all you have is a promise. You can't buy anything with a promise. You can't go to the bank and deposit a promise.
To really protect your wealth you have to find the best price to buy the physical Gold and Silver bullion. What good is it to buy a lot of gold and silver, if you pay way too much for it and then have to wait and wait and wait until the price goes up enough for you to just break even. That's not smart. You can easily buy all of the gold and silver bars and or coins you want. You just need to do your homework first. Investing in gold and silver is the safest, most recession proof way to invest your money, as governments all over the world are printing money like the German Weimer Republic did in the past.
The value of the printed currencies continues to go down as they print more of it. It's simply supply and demand. The more you have of something, the less it's worth. As a result of several rounds of "quantitative easing" (as printing money is called these days so as not to cause alarm), if they continue printing money at this pace, at some point in the future, the Dollar is on track to eventually become worthless. For centuries gold and silver have proven to be a safe haven in times like these.
You should really shop around to make sure you get the best price on gold and silver bullion you can find. You should be looking at the current price of the metal, and see if the company you are considering buying it from is making a reasonable, but not excessive profit. With some bullion companies it's better to buy in the larger amounts, to get their best prices. You should always do your own research and don't allow yourself to be sold by the smooth talking salesman on the phone.
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