Friday, December 20, 2013

It Does'nt Make Sense to Save National Currencies

What I've been recommending since I started Gold Money back in 2001, is that you accumulate gold and silver on a cost averaging basis. In other words, if you want to put in $500 every month of savings, or $50 a month of savings, whatever the number is, on a certain day of the month you buy that $500 or that $50 of gold or silver, and you just do that month after month, after month on a consistent basis. And view that accumulation of precious metals to be your savings.

It doesn't make sense to save any national currency any more because you don’t get the interest income to offset the risks. But savings are important for everybody in order to plan and prepare for a future which is uncertain and a future which no one can predict.

But we know that we’re heading on the wrong road. We know that we’re heading toward the cliff. So you have to be prepared for the contingencies that might arise. And the best way to do that is to go to the assets that are proven and time tested. And the proven and time tested assets throughout monetary history are gold and silver.

- Source, James Turk via: