posted on Jan, 30 2009 @ 11:20 AM
If China stops buying US Treasuries, it may indeed signal a whole host of destabilizing actions. However things may unfold, know this, that the
multi-trillion dollar bailouts and stimulus programs the Federal government is doing are by themselves all inflationary by nature. Add onto this the
never ending and rising debt obligations of the Federal government, the shortage of funds the State governments all have, and the decrepit road
network and public water systems, and one thing is unavoidable - an ongoing economic crisis of the highest magnitude.
Now, it is possible that there could be a string of unforseen and miraculous events that would derail this path: invention and application of free
renewable energy, the dismantling of all nuclear arsenals, the conversion of radical Islam to a pro-western stance, and the sudden resurgence of
American Industrial might. However, these things are much less likely than the scenario painted in the first paragraph.
As an individual - the best single action that could be done is to transfer a portion of your wealth into something that is tangible, liquid, and
globally recognized as a monetary istrument. Gold answers that call like nothing else (yes a barrel of oid might also qualify, but it would take 20
barrels to equal a single ounce of gold). Anyone that travels frequently overseas can easily see that gold holds a place of respect far above its
status in North America. In Asia, many purchase it on a monthly basis (sort of like our IRAs), in the Middle East the Gold Souqs are full of people
buying gold, in Europe one can walk into many banks and buy gold coins from a teller. Take a British Sovereign into a store in Africa or South America
and see if they can't convert it for you.
Why Gold? What's so specail about it? There are many who wax elequent on its many fascinating properties; but for me, there is one simple reason why
gold is gold, and everything else is merely a substitute: You either have gold or you don't. There's no faking it, no impersonationing it, no
conjuring it out of thin air - physical gold is tangible.
To those that ask where it may be purchased, I recommend www. Tulving.com - a well respected bullion dealer out of California. His charges are
reasonable and his delivery quick. Other sites mentioned in this thread - not so much. Another option is buying gold coins on Ebay. But please
research the seller and ensure they have a good rating - when selling gold (as opposed to selling 50 doll outfits for $2 each then taking your
thousand dollar plus gold purchasae and disappearing).
No one can foretell the future, but gold is as close to an economic insurance policy as a common man (woman) can get.