The advice from Dave Ramsey is to “only invest in something that has a good long-term track record.” Well Dave, in case you didn’t know, gold has over a 5,000 year track record. Is that a long enough track record for you?
The U.S. Dollar on the other hand has only a 38 year track record without gold backing.
Read More0“DOW 10,000 (version) 2.0,” but is it really a better version, or even the same version as DOW 10,000 of 1999?
What most don’t realize is that the DOW 10,000 of 3/12/99 was worth more in terms of purchasing power than DOW 10,000 10/14/09 by a whopping 23.8%. Why? Because the dollar index has fallen 23.8% since March of 1999.
Read More0Gold, during the time of a hyperinflation scenario, unlike paper money, would be “perceived” as having value as it has for centuries. The U.S. dollar however, wouldn’t have any perceived value under this scenario. So a better question to answer would be, what would you use as a medium of exchange sans gold since no one will want U.S. dollars?
Read More0Another story was developing at this time; the EURO had bounced off its lows and become a much stronger currency. As the dollar was sinking from its high in 2002, and the uncertainty of what affect Central Bank sales would have on the price of gold, the EURO became the only other “safe haven” in the mind of those who were looking to get out of the dollar.
Read More0It’s not known for sure where the concept that an ounce of gold could always buy a nice businessman’s suit came from, but the analogy is used today by many who want to paint a positive picture for gold. The premise of the story is used to reveal the fact that the dollar has lost 95%-98% of its purchasing power …
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