Why Gold Is a Necessary Part of a Recession-Proof Portfolio
"If the dollar's going to get weaker versus the Euro versus the Chinese yuan, if we're in this weakening process to try and stay out of a recession in different countries - the one currency they don't manipulate is gold." Noted gold expert David Yoe Williams.
He mentioned that if you look at gold as a currency and not as a commodity, it makes sense to be in something that's not controlled by one specific government. It's global, it's worldwide and you don't have counter party risk. You're not going to have the Fed printing gold.
In these sort of situations, it's a place to store your wealth. "It's worked for 5,000 years and that's why it's still viable," ended Williams.
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This article was written by a staff member of TheStreet.
