Buy Gold: Forbes founder expects return to the gold standard

Gold Investment - 21 November 2011

The founder of the renowned Forbes Magazine, Steve Forbes, is of the opinion that the U.S. will be back on the gold standard within 5 years, because it would help to solve numerous problems faced by the U.S. today.

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Invest in precious metals today! Contact us for details.

Forbes is definitely not the first person to advocate a return to the gold standard, but he is most definitely among the more prominent individuals to do so. He made it for one clear in an interview with Human Events magazine that what “…seems astonishing today could become conventional wisdom in a short period of time” (Steve Forbes Predicts Gold Standard in US in 5 Years, Wealth Wire, Adam Sharp, 11 May 2011). Furthermore: "When it comes to exchange rates and monetary policy, people often don’t grasp” what is at stake for the economy, he said. "If the dollar was as good as gold, other countries would want to buy it" (Steve Forbes Predicts Gold Standard in US in 5 Years, Wealth Wire, Adam Sharp, 11 May 2011). Forbes is absolutely correct; the majority of people simply don’t get it. In fact, the majority will get it, but only at a stage when it will be way too late to acquire gold, because it will simply be beyond the reach of most people. The same can be said of silver and any other precious metals for that matter. Let’s consider an example to state what we mean with “beyond the reach of most people”: The author of Currency Wars: The Making of the Next Global Crisis and also a prominent individual that are advocating a return to the gold standard (on a global scale we should add), James Rickards, is of the opinion that the gold price can go as high as $44 0000 an ounce when we return to the gold standard. Now if one considers that gold is currently trading at more or less $1770 an ounce, then logic dictates that more people would be able to buy or acquire gold at this price level, than at a price level of $44 000 an ounce. In other words, it makes sense to buy physical gold while it is still affordable to do so.

Invest in precious metals today! Contact us for details.

Invest in precious metals today! Contact us for details.

Gold Investment supports the views of both Forbes and Rickards as far as a return to the gold standard goes. It is after all no secret that the U.S. Dollar for one has more or less 5% of its original purchase value left. The U.S. Dollar is expected to completely collapse within this decade as a direct result of “Quantitative Easing (QE)” and similar monetary policies. In fact, all existing fiat currencies (fiat paper money, electronic money, non-redeemable paper notes, toilet paper money, the Devil’s money) are expected to completely collapse within this decade, if not within the next 2-5 years. You either buy gold and silver as insurance or you don’t. Period.