It is a modern day gold rush. Scared American’s are scrabbling for all the gold they can get their hands on. It is no wonder because you cannot turn on a television without every financial guru chanting “buy gold, buy tangible goods.” Is gold really the financial safety net we keep hearing, or is it hype?
In the current depressed economic state, only tangible goods will be inflation proof. The value of gold will rise with inflation and cannot de-value like the dollar. Since 2003 the dollar has a 50 percent inflation rate, which means what $100.00 used to buy only buys $50.00. So what used to buy $100.00 has inflated to $150.00.
In the last week gold has gone up 2.95% in value. In the last 7 years gold has increased in value by 150 percent. To most people that is evidence enough. Today a 1 ounce gold bullion coin can be bought, among other places on the internet, for a range of just over $900.00 a coin.
The dollar has depreciated and will continue to do so in rapid decline. It will continue to more dollars to equal the same value. The main problem with that is salaries cannot keep up. It is not likely that anyone will be receiving a 50% salary increase every 5 years. Gold has been appreciating even before the current economic crisis caused a frantic gold scramble. Gold has a solid history. Gold is tangible. Investing in gold just may be the best choice for your family’s personal economic future.
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