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Investors Need Gold To Preserve Savings.


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Investors Need Gold To Preserve Savings – Barisheff
Nick Barisheff, CEO of Toronto’s Bullion Management Group, advised investors to include gold in their portfolio to preserve their savings.

“Many investors and their financial advisors consider gold to be a commodity, which makes gold no different than copper, timber, pork bellies or orange juice. They do not understand, or simply are unaware, that gold has been successfully used as money for over 3,000 years. Although some people think it is an archaic relic, the facts don’t support this view…

“Gold is traded on the currency desks of all major banks and brokerages, along with dollars, euros, yen and pounds, and not the commodity desks along with other commodities – the FX traders know gold is money.

“On the balance sheets of all central banks, gold is classified as a monetary asset, along with their foreign currency reserves. The central bankers know gold is money. Central banks do not hold any other commodity as part of their reserves. Alan Greenspan knows gold is money, as he laid out in his famous article “Gold and Economic Freedom”, written in 1966, before he became chairman of the Federal Reserve…

“One of the most important attributes of gold is that it is negatively correlated to financial assets, such as equities and bonds, and non-correlated to commodities… When financial assets decline, gold tends to move in the opposite direction, and increases in currency terms. What this means is that gold acts as portfolio insurance to reduce volatility, improve returns, and improve both Sharpe and Sortino ratios…

“For the sake of your financial well-being, take the time to understand what money is, its history and how it is created through the fractional reserve banking system. You will then understand that this 44-year-old experiment with the US dollar as the first global reserve fiat currency will assuredly end in disaster for those who hold their wealth in paper, just like all the other times when this was tried by individual countries.

“You will come to the same conclusion that I and numerous other experts have come to: You need to hold a substantial part of your portfolio in precious metals in order to preserve your savings.

“It is critical to take the time to understand that gold and silver are the most reliable forms of money for preserving wealth. When it becomes obvious to everyone that the system is failing, it will be too late. Unlike paper currencies, you can’t simply print more gold. If even a small percentage of the $250 trillion in global financial assets tries to move into less than $2 trillion of privately held gold, the only variable will be the price, and even then the question will be availability.

That is how we will get $10,000 per ounce gold and $250 per ounce silver.”

(“Gold and Pork Bellies,” BMG, 7/26/16.)

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