Why Is Gold Important Now

Most people are aware of gold and its intrinsic value. Gold has been, from time immemorial, a valued asset. Its value is social, cultural, and technological. Socially gold was the basis of all financial transactions and monetary backing until 40 years ago. At that point Richard Nixon took the USA off the gold standard. This guaranteed spiraling inflation which indeed happened. During the Carter years the inflation was very difficult and doomed his presidency. ( His poor leadership was another factor)

Culturally gold has figured in the arts especially in the form of jewelry, sculpture, and even painting. Gold has a major role in electrical and electronic technologies: gold does not tarnish and carries an electrical impulse quite well.

Gold is important today for the above reasons and perhaps more. Apparently every nation is printing money that has no intrinsic value; aside from the promises of whatever government happens to be in charge. Global hyperinflation is coming and coming soon.

Apparently many people think they are buying but are not: they are acquiring a piece of paper promising to deliver gold. The difficulties with this proposition are obvious. There is a finite amount of gold on and in the earth. What that limit is cannot be known, but what is known is that the difficulty of finding and extracting gold has increased dramatically. What this amounts to is a lot paper with claims on not so much gold.

Given the current political and financial conditions buying gold is a very good idea. Buying gold delivered to your door is a great idea. If you buy paper you will most likely be paid in inflated cash that continues to lose value as inflation increases. Gold in hand is an excellent repository of value in time of chaos. Times which most likely will occur in the not too distant future. The problem becomes that of how to: how to exchange gold for a good or service.

This problem argues for the acquisition of gold coins. This is an area that requires wariness and knowledge. Coins are sold on the basis of their collectible value which is entirely subjective. Smaller, one ounce bars of gold bullion are a more attractive alternative. In today's world gold is not an investment that is right for everyone. Having a gold when paper becomes worthless is right for everyone.

Another way of looking at this problem is the need to simply have hard assets. Silver, platinum, even spare change will have more value than paper. Cars, guns, ammunition, tools, anything that can be traded for whatever is needed. The two most valuable assets will be food and water.

Every government and financial interest is discounting any chance of runaway inflation. The reason for this deceit is simple self preservation. Is it possible that the rich and super-rich are leaving their lives to the whims of government? Take a close look at the governing class. Do they seem trustworthy, or even intelligent enough to be trusted? 

Everyone has a chance to control certain aspects of their destiny. What are you doing to preserve yours?