Why You Should Own Gold and Silver

First off, why should you own precious metals?  Read this:

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the “hidden” confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”

Who do you think this was written by?  If you guessed former Fed Chief Alan Greenspan, you would be correct.  It is titled “Gold and Economic Freedom,” and it was originally published in 1966.  (Click here to read the entire Greenspan article.) After reading this, it is hard to believe he was the Chairman of the Federal Reserve for nearly 20 years.  Gold is the antithesis of the Federal Reserve Note.

Greenspan’s article is the time tested reason for owning gold.  For more current reasons, look no further than“The Seven “Ds” of the Developing Disaster,” written by gold expert Alf Field.  In short:

• Deficits
• Dollar
• Devaluations
• Debt
• Demographics
• Derivatives (this is the big one)
• Devolution

The above are the reasons why Field says gold and silver are bound to rise over the long term. 

Video Explanation for How and Why to Buy Gold and Silver

For a video explanation for how and why to buy precious metals, we turn to Mike Maloney.  He’s a best selling author who wrote a book titled “Why Gold and Silver?”  His videos give the simplest and clearest explanation I’ve ever seen.  Below is one of my favorites.

Finally, renowned gold expert Jim Sinclair gives us the very best reason to own gold.  He says gold is the ultimate “insurance.”  In his recent book, “A Pocketbook of Gold,” Sinclair says gold is necessary for surviving the “monetary mayhem” we face.  Every gold buyer should own this tome because it’s thorough and easy to understand.