To invest in gold and silver is to invest outside of the system. When you buy gold bars or silver coins you are choosing to hold assets that can protect other assets in your portfolio from the poor actions taken by counterparties. For example: money printing by central banks, inflationary government policies, mismanagement of a company, even strikes from workers.
We would argue that the need to invest in gold bars or to store silver coins has become even greater in recent years as those who are responsible for areas like monetary policy, security or taxes are no longer incentivised to just act for the greater good. Rather, there appears to be an increasing number of policy makers who are also incentivised to personally benefit from their decisions, the same decisions that elsewhere are wreaking havoc for many others. With such behaviour the need to hold the safe havens that are gold and silver is even more crucial.
“Power tends to corrupt, and absolute power corrupts absolutely“
The 19th century British politician Lord Acton coined the phrase, but the idea was not new to him. The idea was aimed at monarchies that all power is given to, or as was generally the case, power taken by monarchies.
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Stephen Flood is the CEO of GoldCore. He is a former Wall Street equity trader and FinTech expert. He has been involved in the precious metals markets since 2004 and has appeared as an expert contributor on CNBC, CNN, BBC, RTE & Bloomberg TV and has had articles published in the Irish Times, Irish Independent and The Sunday Business Post.
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