(Newswire.net — May 24, 2013) Santa Monica, CA — With the prices of gold falling in recent months and the dollar seen as strengthening, the debate continues as to whether or not investing in gold is a wise decision.
Ric Deverell of Credit Suisse Group AG recently said, “Gold is going to get crushed. The need to buy gold for wealth preservation fell down and the probability of inflation on a one- to three-year horizon is significantly diminished.”
Mike Maloney, author of “Guide to Investing in Gold & Silver–Protect Your Financial Future” said that “the whole world has been turned away from real money and has been fooled into using currency, a deceitful imposter that is silently stealing your two most valuable assets.”
He stated that true wealth is simply your time and freedom. That may be true, but how does a person convert that into buying power?
“We are entering a period of financial crisis that is the greatest the world has ever known. The wealth transfer that will take place during this decade is the greatest wealth transfer in history,” said Maloney.
Countries all over the world are in a cycle of deficit spending. Central banks continue to print money on an unprecedented scale. This global phenomenon is now taking place in the US, Canada, Australia, South Africa, Singapore, Russia, India and China.
There have been thousands of fiat currencies and not one has ever survived. A fiat currency is currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves.
Maloney also stated that “wealth is never destroyed. It is merely transferred.” He believes that education is key to ensure that you end up on the correct side.
“Gold and silver always win the battle between currency and money,” he said. Deverell said, “Gold’s utility as a highly portable, high-value store of wealth is as relevant today as it has ever been.”
Looking for information on how to buy physical gold? Click here.
Sources: Bloomberg News, www.GoldSilver.com
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