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| Gold- The Ultimate Currency |
| Written by Kathryn Smith |
| Monday, 05 April 2010 07:35 |
|
The founder of Goldcorp, who is also the CEO of US Gold, Rob McEwen, has the conviction that gold is being driven in the upward trend by the massive amount of debt. Some other thing that determines the price of gold are the huge spending programs managed by the governments of the west.
The founder of Goldcorp, who is also the CEO of US Gold, Rob McEwen, has the conviction that gold is being driven in the upward trend by the massive amount of debt. Some other thing that determines the price of gold are the huge spending programs managed by the governments of the west. He states that these countries are debasing their currency in the effort to set off their economies. McEwen believes that even if this will work in the short run it will not work in the long term. He thinks that we have to learn how to appreciate gold as money. It is simple to manufacture gold but gold deserves the name of the ultimate currency because it cannot be manufactured as easily as gold. The paper supply is a question of how many zeros you out on it and then you can print as much money as you want. The supply of the yellow metal can rise only at the rate of the annual production and that is about 1% per year. Factors such as the demand from Asia also boost the price of this yellow metal. Something of extreme importance is how people kept the money, how they store it and what they do in order not to diminish it. Why shouldn't we consider this precious metal as the ultimate currency if the CEO of the US gold thinks that it is? In order to protect our savings we should really consider investing in gold as the sanest strategy. In our days there are many ways in which one can invest in gold. Some few examples of how to invest in the yellow metal could be the purchase of physical gold such as gold coins (Krugerrands, the Canadian Maple Leaf) for example. Some other ways can be investing in gold accounts or simply in purchasing gold shares. It is up to you the way you chose to invest in gold but try not to put it off for too long. |