Over the years as an advisor as well as during the years of the radio show, one consistent self destructive myth keeps surfacing, accepting no denial, and refusing to accept factual history: gold. Gold has a repetitive history of going up and dropping sharply. It is not a hedge against inflation, particularly in a period of low inflation. In the unlikely scenario of economic and social collapse, bullets would be far more valuable than gold. There are always marketing vultures preying on fear and economic/political prejudice. It makes no difference how many times, or over how many years, they are wrong.
The fact is, with gold, if you did not buy between 1997 and 2002, you underperformed.
Ireland and Iceland: when cosiness kills
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