Buy Gold Bullion – One Speculator’s Perspective
Did you know it’s actually legal for Americans to buy Gold Bullion? If you do know that, then you also should be aware that has not always been the case.
When I started to look into the matter, I had the mistaken impression that it was not legal for Americans to own gold bullion. I quickly discovered that I was wrong.
I, like many others of my generation, had learned that it was illegal to actually own gold bullion when we were young and never realized that the law had changed back in 1974. (I guess we missed the memo; where was e-mail and the Internet when we needed it?)
Why should we even think about it?
After all, we were being protected by our government from the evils of rampant speculation and other horrible atrocities that accompany owning the fever-inducing stuff. We all had “warm fuzzies” in the sure and certain knowledge that the President and the American Congress were protecting us from ourselves! Thank you President Roosevelt…
… You see, beginning in 1933, it became illegal for Americans to own gold bullion. The politicians in power at the time (mostly the Democrats, led by President Franklin Delano Roosevelt, thought it was a great idea) realized that it was much easier to print a whole lot of $20 USD paper money bills than to make extra $20 USD gold pieces… Hmmmm… Where’s good ol’ subspace based replicator technology when you need it? (Don’t know about subspace quantum differential fields and mechanics that are used to make replicator technology work? See videos and books about Star Trek™ for a full briefing on the subject).
The ban stayed in effect until 1974 when the politicians realized that the wealthy now needed a safe haven for their net worth due to the rampant inflation that was beginning to occur at the time…
… And, they really did need it, because the inflation got worse, much, much worse…
… By the end of Jimmy Carter’s reign (President of the United States, January 20, 1977 through January 20, 1981) inflation had risen dramatically. The annual inflation rate rose from 4.8% in 1976 to around 12% around the time of the 1980 U.S. Presidential Election campaign. That was an increase of over 200% in just 4 years.
But now, as I found out, it is possible to buy gold bullion, ETFs, Futures, Options, etc. And, it has become quite lucrative to own the precious gold-colored metal itself.
You have your choice as to how you want to profit from it. Personally, I like the thought of being able to bury a sack full of the precious gold bars, coins and medallions in my back yard, right under the machine gun emplacement next to the ammo dump that I put under the 300 year old oak tree, without serving 5 to 10 years in a federal penitentiary, if I am discovered hoarding the stuff.
All kidding aside, I think that gold is a marvelous investment and will continue to increase in value for as long as we permit politicians to control our economies. Personally, I expect to see a total collapse of the international banking system in the near- to intermediate-term future.
When that happens, you will be glad that you bought gold bullion and that yours is safe in the vaults of solid, internationally-accessible private companies like Bullion Vault. The very rich almost always have a portion of their assets in precious metals like gold and silver. I think that you should, too.
Go Get Rich,
Al
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