The mainstream keeps telling us the economy is great. Unemployment is low. The stock market is high. There’s nothing to worry about. So, when we do express concern and argue that maybe things aren’t so great, the mainstream writes us off as contrarians or old-fashioned “gold bugs.”
Of course, there has been a certain negativity toward precious metals investing for years. as SRSrocco put it, “There’s a very interesting notion put forth by many commenters that the precious metals analysts and dealers are the frauds and charlatans, not Wall Street or the central banks. I imagine they believe this because gold and silver prices haven’t performed as forecasted or compared to the insanely inflated stock, real estate, and crypto markets.”
But no matter what they might think, there are important reasons to buy gold – especially now while everything is supposedly great.
Global wealth increased to a new record of $280 trillion in 2017, according to Credit Suisse Global Wealth Report 2017. That seems like pretty good news until you consider global debt is increasing nearly three times as fast.
Conventional wisdom holds that gold is a good store of value, and provides a hedge of protection against inflation and economic upheaval. But a close look at the data reveals gold offers a long-term growth trajectory comparable to other financial asset classes.
Gold can literally mean the difference between life and death.
Now, that may sound like a bit of hyperbole. And in most cases, it would be. But during World War II, a tiny bit of gold became the salvation of a dying soldier.