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Gold Investments And Why To Buy Gold Bullion

Blog Feb 3, 2014

There are several reasons to have gold investments, and the time to buy gold bars and buy gold bullion may be closer than you think. Perhaps the most important reasons to consider gold investments right now are coming out of the banking industry and the central banks around the world. According to a recent Wall Street Journal article, the Central Bank of Germany, the Bundesbank:

“On Monday proposed a one-time wealth tax as an option for euro-zone countries facing bankruptcy, reviving a idea that has circled for years in Europe but has so far gained little traction.”

The article went on to say:

“The question arises whether in extraordinary national emergencies in addition to privatization and conventional consolidation efforts, private wealth can also contribute to avert a government insolvency.”

Gold Investments And Security In Insecure Times
If you recall, this is what exactly happened to the people of Greece. Those that kept all of their wealth in the banking industry ended up queued around the banks for blocks hoping to get their money out before the government came around around and collected a percentage in order to be able to continue their borrowing from other countries and entities. This became known as a “bail in”. Those that held their wealth in gold investments and were fortunate enough to buy gold bars before the bail in happened, were much less effected. Once the word of the plan to confiscate private wealth out of the accounts of private citizens for use by the rulers in charge circulated, the ability to buy gold bullion immediately dried up. Some Greeks may tell you that there was just no gold available, everyone wanted to close their bank accounts, but no one wanted to sell gold coins. Other Greeks perhaps would have told you that the Greek Government wanted no options for the Greek Citizens, and did not allow gold companies to sell gold coins. Either way, the time to have gold investments was before the uncertainty in the banking industry became apparent.

Gold Investments And Holding Gold Bullion
The Wall Street Journal article also went on to say that the IMF, or International Monetary Fund, of which the United States is a member, was keen on the idea of a government being able to impose a “Tax” on it’s citizen’s to be taken directly from their banking accounts and be given to the government in order to help “balance the books” so to speak. In the U.S., we know the books are way out of balance, some say $17 trillion, others say that $17 trillion is just the top of the fiscal debt iceberg. One way or the other, what happens overseas can happen here, especially if the ruling authorities (the IMF) and the situations (the country in question being insolvent and indebted) are the same.

ITM Trading sees owning gold bullion and other gold investments as a form of financial security and insurance. Holding a part of your wealth outside of the shaky and debt ridden banking system makes sound financial sense, especially when the trend of government’s spending your money after they spent all of theirs is spreading around the globe.

Thumbnail Photo We believe that everyone deserves a properly developed strategy for financial safety.

Lynette Zang

Chief Market Analyst, ITM Trading

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