Tuesday, October 29, 2013

Currencies in Turmoil

When you have currency turmoil, all you have to do is look at monetary history and conclude that yes, gold and silver, physical gold and physical silver are the place to be to provide that safe haven from that monetary turmoil. And they are a safe haven because, in contrast to the national currencies which are just a bookkeeping entry based on some banks or some government’s promise, physical gold and physical silver, the value of them — first of all, they’re tangible assets, and they don’t have counter party risk — and the value of them derives from the preponderance of people around the world who understand gold and silver’s usefulness as money.

- James Turk via Sprott Money: