In the past, Americans trusted their hard-earned savings to Wall Street bankers, brokers, fund managers and so-called professional money managers. I seriously doubt that they will do so in the future. Many Americans are now very understandably asking, “In whom can we trust?”
What can someone do to preserve their purchasing power and to preserve the wealth that they do have for their descendants? I believe the answer lies in something that has been a store of wealth for people for thousands of years—gold.
There are myriad reasons to own gold. Some of the reasons would include: U.S. dollar weakness, inflation, deflation, supply and demand, geopolitical risks and diversification. And, of course, there are numerous ways for investors to own gold—gold bars and bullion, gold coins, gold ETFs (such as GLD), gold mutual funds or individual gold stocks.