I’m Not Sure I’m Ready to Buy Gold & Silver Right Now
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Ask the Expert
Damon Geller |
It’s understandable that you might need a little more time to buy gold or silver. People need to convert their green paper money and their debt-based savings into gold when it’s comfortable for them to do it. I will say, though, that most investors who have waited to buy gold over the past 10 years have cost themselves money. Remember, you don’t buy physical gold today to sell it next week, so “market timing” is less important. The dollar’s decay has been a long road in one direction, and yes, there have been short bursts of dollar strength (and thus gold weakness) along the way. But waiting to own gold is the same as waiting for the dollar to fall.
Let me be crystal clear about the concept of “waiting” in this type of global monetary landscape. If you are considering gold, you must be aware of the following issues: the banking systems around the world, unsustainable debt around the world, the decay of fiat money, the attempts to kick the can down the road, and the general frustration with our taxation systems, trade systems and Wall Street’s basic functions. After the meltdown of large institutions like Lehman Brothers and MF Global, anyone “waiting” to protect their financial wealth is simply walking on thin ice while juggling fire. You either get it, or you don’t. And those that get it… aren’t waiting.
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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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