Own your Gold today
Tuesday, July 29th, 2008By Bruce Sands
With gold production on the decline, the Federal Reserve policies which constitutes the injecting of money through the printing press or via the digital route, will only aggravate and hasten the impending economic crash.
An Act to ‘provide relief in the existing national emergency in banking, and for other purposes’ was formulated in the Act of March 9, 1933. It prohibits the hoarding of gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations.
The regulation calls for the withdrawal of the hold from hoarding them. It applies to both individuals and corporations.
The concerned people were required to deliver their gold holdings to the Federal Reserve Bank or its branch or agency. The exceptions being that eth said gold is required in customary use by an industry for a limited period or, the gold do not exceed the aggregate $100.00, under an individual holding, or it has a special value for being rare coins.
This had led to the earning of more than $600,000,000 in the form of gold and gold certificates in the coffers of the Federal Reserve Bank.
Why is gold riding the bull market today?
- There is a huge imbalance between production and consumption. The annual deficit between them is in a consistent rise.
- The Federal Reserve would continue with its policy of printing dollars.
- The fiscal deficit of eth US government has become the order of the day. Its not going to change.
- The US congress is least bothered about the deficit spending.
- The nation’s private debt has touched the record high figures.
- Most of eth major banks are over-enthusiastic regarding the derivatives.
- The war against terror is not going to stop. War costs money resulting in inflation and it always runs beyond its anticipated period.
- The US is no longer the net creditor, its today the net borrower.
- The dollar is trading in a bear market.
- The central banks are overstating their gold reserves.
The order for the return of the gold which was in the government possession has been issued during the period of the emergency and it enabled to get their gold exchanged for any other currency. The purpose of eth order was to restore the country’s gold reserve in dire times.
With reference to the present circumstance there is a huge benefit of owning the gold minted before 1933.
By Bruce Sands
Though past performance can never be a guarantee to the future performance, but it is nothing new that gold has been facing price appreciation for a long period. It thus becomes a logical analogy that gold will do well in future too. In fact, even better due to their immense potential worth. Apart from gold bullion, one can effectively invest in gold coins too. Known as the ‘barter coins’, they can form one of the important components of a well balanced investment portfolio.
Gold happens to be the only substantial asset which has withstood the rigors of time. For over 6000 years of human history, it has been a commodity characterized by a store of value and never as a liability.
‘America’s fiscal condition has deteriorated beyond any hope of a solution within the existing system’ says John Williams, founder of shadow Government Statistics. Financial experts are of the opinion that even a 100% personal income tax shall be unable to fulfill the deficit. Williams further states that, ‘Net of all accounting gimmicks, the actual
What makes a smart investor buy gold? The purchasing power of all the major national currencies around the world is suffering rapid erosion in terms of their valuation. Their purchasing power is being fast diminished due to the constantly rising inflation. So, what is the answer to preserve this purchasing power? You can do it by owning gold.