It’s been looming for several years now, but the Perfect Storm appears to have made landfall. The evaporating value of the US dollar, trillion-dollar national debt, the substandard mortgage crisis and impending foreclosures, decreasing home values, astonishing credit card balances, skyrocketing oil and gas prices and the daily volatility of the stock market. Not since the Great Depression have Americans experienced such a collective assault on their pursuit of life, liberty and the pursuit of happiness.
As an example, the U.S. dollar is backed by nothing more than global confidence in our current economic and political health. The daily highs and lows of the stock market graphically illustrate the schizophrenic modulation in the confidence level of our overall economy. Interestingly, weather and natural disasters can play a substantial role regarding whether this “feeling” is good or bad. The cataclysmal economic impact of events such as Hurricane Katrina and the California wild fires are felt around the world. And as the old saying goes, “you can’t control the weather,” …or mother nature for that matter.
This feeling of not being the master of our daily lives, not to meantion our future financial security, has created a sense of denial, apathy and fear. But, if you have found yourself asking “what can I do now that might alter an inevitable personal financial apocalypse?,” I have an answer – buy precious metals; specifically, gold and silver. This investment can be a safe haven when all around you is in turmoil.
Gold and silver are the universal currency. And if you haven’t noticed, the gold and silver prices curiously shadow the oil prices. As oil goes up, so do gold and silver. Coincidence? Maybe, but let’s look back at the 1970’s and the oil crisis. Gold profits rose approximately 2000% within the space of 10 years. I was only in my teens at the time, so I didn’t have any income, let alone expendable, to invest. But I have no excuse now. Since June 2007, the US dollar in my pocket plummeted from 0.750469 EURO to 0.672857. In the same time frame, an ounce of gold has grown from $666.50 to $815.25, as did oil from $59.25 to $94.72 per barrel.
Desperate times call for drastic measures. Start building the bomb shelter now. Buy gold and silver.