From Financial Sense
By Erik Townsend
''One of the most common reasons investors cite for buying gold or silver
bullion is that they are losing confidence in fiat (paper) money systems
and the over-indebted governments behind them. Many investors prefer to
own “physical” gold rather than “paper gold”, meaning they want to own
the real thing as opposed to a paper promise – a contractual commitment
to deliver gold at a later date, or in other cases a contractual
commitment to pay the equivalent of a future gold price
to the investor. But there is an alarming deficit of understanding
among investors relative to how the precious metals markets actually
function. In fact, I would go so far as to opine that most investors who believe they own gold really don’t!''
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