A Disaster Worse Than the 2008 Crisis
A Disaster Worse Than the 2008 Crisis by Jessica Cohn-kleinberg – Banyan Hill
When it seems like all the odds are against you, and failure is your only option, which of these options do you choose:
- If at first you don’t succeed … you run as far away as possible.
- You hold on and keep trying until you succeed.
If you’re like me, you opt for No. 2 (at least most of the time). So when I tell you about my recommendation today, just keep that in mind:
And … (drum roll please) my big recommendation is that you use today’s low gold prices as a buying opportunity.
I know, I know, gold hasn’t done so hot lately. It just tumbled to $1,249, a four-month low in the wake of the recent tax-cutting overhaul. The dollar strengthened as exuberance exploded over President Donald Trump’s corporate tax cuts, and investors pulled out of the safe-haven metal.
Some might think that gold has lost its luster.
But that thinking is for the people who pack their bags and run when things get tough. Gold is not the faded commodity investment many think it is. It’s a safe haven — and it always will be.
Global Gold Rush
Russia knows it. The country’s central bank continues to increase its gold reserves. President Vladimir Putin is on a mission to make Russia less vulnerable to geopolitical risks, and gold is his shining monument of an answer.
In November, the country had stored 1,801 tons, about 17.3% of all global reserves. That’s a 500% increase from the 343 tons Putin took over when he first became president.
Germany knows it too. The country is one of the globe’s largest hoarders of gold, boasting 3,378 tons, second only to the U.S. Most of that gold used to be stored in London, New York and Paris … until recently. But over the past five years, the central bank has transferred almost 54,000 bars (valued at almost $510,000 each) back to Frankfurt. The last of the bars arrived in August.