Can those who talk down and rubbish gold provide me with any alternative to purchasing the yellow metal if you were an American citizen and just sold your portfolio of shares because of the horror of seeing them continuing decline.
You want to place your money somewhere, but where?
In the overvalued property market with yields of 3%, or in a bank deposit yielding 3%?
Is that satisfactory?
Will people be satisfied with that when their pruchasing power is falling by 20, 30 , 40% along with the falling USD?
They have no option but to seek haven in the yellow metal.
That's what happens when a credit economy goes into reverse gear...
... credit evaporates along with asset values.
People get sheel shocked and seek a safe haven.
GOLD IS THE ONLY OPTION.
Would those knocking gold like to provide some alternatives to the ultimate store of value???
