Why Buy Gold When There Is Bitcoin & Tesla?
Instant gratification is what drives the world and especially investment markets.
I often hear complaints that gold is a useless investment since it doesn’t go up fast enough.
We have invested heavily into gold for ourselves and our investors since 2002 when the price was $300. Since then gold is up just under 6X.
Sure it has not been a straight line and there have been major corrections on the way.
STOCKS ARE TODAY A GARGANTUAN RISK
But Bitcoin and Tesla are much more exciting so why should an investor hold gold – an incredibly dull investment for the majority of people.
If I tell investors that it is absolutely critical to hold gold for wealth preservation purposes as the world financial system is the biggest bubble in history, most would ignore or ridicule me.
And if I tell them that the dollar and most currencies are down 97-99% since 1971 against gold and down 85% since 2000, they would yawn. They are only interested in their nominal stock market gains not understanding that they have gained nothing in real terms.
But if I proclaim that gold in 2021 could reach $3,000 some will prick their ears. (More about gold reaching that level, and higher, later in the article.)
Still most people prefer to stay in stocks totally unaware that the majority of stock inves
Article from LewRockwell