Because I see such deep value in gold today, I was exploring various national mints last week, looking to buy some bullion -- maybe some Austrian Philharmonics, some Canadian Maple Leafs or a few Britannia's from the U.K.
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And while reading through the bullion site for Britain's Royal Mint, I came across some highly unexpected commentary.
- Gold is the ultimate store of value.
- Gold is the original and still the most far-reaching global currency.
- Gold is perhaps the ultimate form of insurance.
And, yes, the Royal Mint put those words in boldface.
That should tell you something -- namely that gold bullion, at today's lower prices, is an asset you should be adding to your portfolio.
What They're Saying About Gold
Buffett once famously said that gold "has no utility. Anyone watching from Mars would be scratching their head" over the Earthlings and their fascination with a metallic element. Meanwhile, former Fed head Bernanke once told Congress that gold is not money and it is just a precious metal -- the price for which "no one really understands."
Apparently, the Royal Mint understands.
While gold is too-often denigrated at the higher levels of American finance, those who have a long, long history with money, currency and metals recognize that gold is the ultimate form of money.
"Gold," as the Royal Mint notes, "cannot be faked, printed or inflated. Over the very long run, it has historically held its worth." Can anyone make that claim about the dollars in our wallet -- or any other currency that has come along in the last few hundred years? Our buck has lost more than 95% of its value since the creation of the Federal Reserve, and is down 25% since September 2001, what I argue marks the end of the American empire as we once knew it.
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