Using Gold as Money
Through out the ages gold has always been used as money, and still is today. Only last may Utah became the first state in the USA to legalize gold and silver coins as currency. see my article about the history of gold
In these volatile markets and uncertain economy, many investors are weighing their options and some of them are investing in gold. Gold is roaring once again and it is trading above $1,800 an ounce. Gold is definitely worth its weight. It appears that paper money has lost it’s value. For many centuries, many investors have recognized that buying gold was a great way to reserve one’s wealth and purchasing power.
Many Investors are investing in gold coins as they are quickly recognizing the collapse of the dollar. A dollar collapse would create immediate global economic turmoil and many investors are quickly finding out how profitable it is for them to invest using gold as money.
Gold buillion can be considered the best form of money that the world has ever known. It is valuable and considered a safe haven in times of economic crisis.
Gold is a rarity and using a small amount can purchase a significant amount of goods and services. Gold is accepted worldwide and can be easily brought and sold.
It is predicted that the gold price will continue to rise. As an investor, it is important to have a safe haven for your money in these uncertain times. Gold prices could sky rocket as high as $5,000 an ounce before the market is over creating a fortune for investors.
One huge disadvantage to relying on fiat currencies with no gold backing is that the paper money risk decreasing in value which can surely bring about an economic depression, debt and inflation.
All around the world we are seeing the collapse of many major institutions and businesses and government uncertainty. Therefore, it is important to invest in gold while it is now on the rise to ensure financial security in this uncertain economy.