I Think I Can Find A Better Performing Investment Than Gold & Silver
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Ask the Expert
Damon Geller |
It may very well be possible that you can think of an investment that has done better or “might” do better in the future, but with how much risk? Remember, we’re not here to hit home runs for people based on performance. Gold is not a purchase you make to get rich quick. Rather, it’s an asset you hold so that you don’t get poor quick. Its purpose is to protect against the kind of wealth destruction we saw in 2008 and have seen for 10 years while we’ve run massive deficits. Gold’s main purpose is to act as a wealth preserver and wealth protector. That said, gold has “performed” quite well also. 20% yearly growth on average every year for 11 years in a row is what I would call stellar performance.
Gold’s gains are largely due to the effect of the printing of fiat paper and accumulation of debt. It’s the indicator and yard-stick against which the debasement of fake (printed) money is valued against. If you’re looking for “performance,” you should look for it elsewhere in your portfolio, and remember that “performance” equals added risk by default. You buy gold to hedge the items of perceived performance in your portfolio, but don’t be surprised if gold continues to out-perform most everything else if we keep printing currency, accumulating debt, spending money we don’t have and kicking cans.
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Damon Geller answers your serious investment concerns: How can I protect myself against the falling dollar? Will the skyrocketing national debt doom my investments? How can I protect my investments against stock volatility?
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