I own gold because I know it won’t go bankrupt, and I know gold will always have a market. History has clearly demonstrated that all fiat money becomes worthless over time. Gold on the other hand maintains a five thousand year history of representing real money. No fiat money has ever lasted as long as a hundred years, with most dying after only 40-50 years. It was just over 40 years ago that Nixon closed the gold window rendering the dollar completely fiat!
So let me put it this way – I own gold because it has always represented true wealth. Because it always has been and always will be money!
I have also held a big silver position for years. The volatility and the current non-conformation with gold’s all time highs can frazzle nerves, but my experience tells me to sit tight. It is my contention that the silver bears will be proven dead wrong. The bull market in silver is still alive, and in the next few months ahead, I believe we will see new bull market highs in silver too. With this in mind, I advise you to stay firmly put with your silver positions, and do not be afraid to add on the dips.
Remember the bull wants to take as few people along for the ride as possible and it will try and buck you from its back at every chance. In the short term expect increased volatility, but look for new highs in both gold and silver by year’s end.
Stay the course!