“Gold is money that maintains its purchasing power, and for this reason it should be viewed as insurance against financial calamity and a hedge in case of economic collapse.”
Mickey Fulp personally, holds a minimum of 10 per cent of his net assets in physical gold in his physical possession at any given time. For him, gold is neither an investment nor a speculation. He does not trade gold; as he puts it, he hoards gold. Gold is his insurance policy against financial calamity and his hedge against economic collapse.
He believes that every smart investor should have a portion of his/hers net assets in physical gold. Gold is money. Everything else is just a constantly devaluing piece of fiat paper or a keyboard stroke that is deemed by one insolvent government or another to be money.
To read Mickey Fulp article: A Musing on Gold and Fiat Currencies
BullionBuzz is a weekly eNewsletter that offers investors a quick snapshot of must-read news pertaining to the markets and precious metals. Continue reading
BullionBuzz is a weekly eNewsletter that offers investors a quick snapshot of must-read news pertaining to the markets and precious metals. This week: Euro: Current Course Is Leading to Disaster Continue reading
It’s a black or white issue: Either you own uncompromised bullion bars for which you have title documentation that are stored in secure allocated storage, or you have an unallocated account that can be settled in cash at the issuer’s discretion. Continue reading