Excerpt: "Less than a month ago – Hungary’s Central Bank announced that they increased their gold holdings... 1,000%... Poland also added nearly 10 metric tons of gold... Russia’s adding 20 tons of gold on average each month to their vaults... After two decades of selling... central banks worldwide are... diversifying... dollar reserves... gold in a portfolio works well to protect against sudden market drops..."
Gordon: Is your financial planner as smart as a central banker? If not, you might wish to revisit the subject of diversification.
Having your entire financial world (income, savings, investments...) priced 100% in dollars, which is to say in Federal Reserve Notes* (a/k/a 'dollars') does not represent diversification. It represents faith in the system. Do you have faith in the system?
* The Federal Reserve Note (FRN) is not federal, there are no reserves, and it fails the legal definition of a note. Other than that, everything is perfectly fine!
The FRN is a fiat coupon issued as evidence of debt by a private banking cartel that lends its product to the U.S. government and charges interest for its use which "We The People" reimburse through taxation which, I regret to say, is unlawfully applied.
Our entire money supply circulates as debt, the interest due on which does not exist at the time it is created and only comes into existence as further debt is issued.
Please do not refer to this as a Ponzi scheme or people will look at you sideways.
I would point out that, mathematically speaking, there is no possible ending for this system other than eventual failure and reset.
If any of this strikes you as potentially troublesome, diversification offers an alternative selection in personal wealth management.
Closing thought: Do squirrels prepare for a harsh and bitter winter by saving up Guaranteed Squirrel Coupons with The Great Squirrel Leader displayed in the center and a picture of an acorn in each corner?
No, they do not. They save the real thing. That is how they survive the winter.
Are people as smart as a squirrel? I would not dream of offering that answer. Only the future of civilization will tell!
Gordon Philips is a lifetime student of hidden history, a contrarian wealth coach and a Forex trading financial iconoclast who trusts politicians, Wall Street and the media about as far as he can throw a sold gold brick.