Moral Outrage
Whew! God help us!

Who is buying gold?

Gold has been soaring in value, and will continue to be a favorite safe haven for countries across the globe.

Only 10 percent of the world’s total gold is purchased by the United States, about the same consumption as Turkey.

Whereas India currently buys more than 20 percent of the world’s gold, China 18 percent, and other countries will increase their stakes in this precious metal as confidence in the U.S. dollar wanes.

Of course, gold is just like any other bubble in that it will burst eventually. However I see gold’s bull-run lasting another decade or more before that bubble bursts.

Among the smartest ways to invest in gold now, and over the long term, as an alternative to physical gold, you can buy it from a gold depository. With a depository, you have legal ownership of the gold, but don’t have to take physical possession. Or you can also buy gold ETFs that are 100 percent backed by physical gold.

[Excerpts of an interview with economist Robert A. Wiedemer]


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