Even financial experts across the globe recommend investing in gold as the best investment. Some people invest in IRA gold custodians to gain wealth while others make silver investments and save their hard earned money. Many economists and financial specialists predict an economic crash in the near future, after carefully evaluating the international economic situation and specifically the US's monetary policy.
The strong economies of many countries around this globe face numerous challenges. Even the USA is facing staggering debt levels of $17 trillion and a Federal deficit in excess of $ 1000 billion. These alarming statements by financial professionals have driven billionaires to invest their money in gold to secure their future.
There are many reasons to invest gold
An investment in gold is preferred when the economy is so bad because it has been a reliable currency for centuries and a safe store of value. Even though any currency can become untrue by printing more currency, gold will still be the most valuable currency during times of high inflation. Your investment in paper products like stocks, bonds, and mutual funds may have been lost within a matter of hours or might have been affected by inflation. However silver and gold had grown more that 400%.
The precious yellow metal of gold has held a special place for people for centuries. Gold is now used as money in over 5000 countries. Various currencies have experienced problems throughout the years but gold's value has grown over the years. The US dollar is actually losing value as a potential currency every day. If 1971's US paper currency were not backed up by gold, then it would have lost the potential to be a currency. The US Government has provided credit to the dollar during such crucial times. These facts are sufficient to give you confidence in investing in gold.
Why not invest in Gold Now?
At the moment, currencies from most countries, including USA and Canada, are in financial crisis. They printed their currency when they needed to without backing it with any gold. A country that prints its currency without backing its currency with gold will see its value drop on the international market. In such a situation, people begin to avoid this currency as they lose trust in it. It is the first sign of hyperinflation. They can print more currency in order to demonstrate their potential. This makes it more difficult. Hyperinflation has its risks, but does not guarantee anything. For your currency to remain worthful, you will need to return to the gold standard. The dollar is worth less than gold, and so does gold.