|
Pittsburg, Kansas | 69Cat - 8/24/2024 18:37 Gold preserves your wealth. It doesn't make you rich.
Exactly.
If you held one hundred dollar bills in a billfold it would not make you money either. You could put it at risk by loaning it out and make money. But so can gold be lent out (by entity's bigger than me) and gained "interest". In fact Venezuela just transferred some gold to London so it could be used as collateral for loans. The opposite effect but still on the same idea. Money has to be put at risk to gain a return.
A person that lives paycheck to paycheck has no use for gold. They need to make money, not preserve wealth. Even a person with a growing business likely has no need for gold. If they want a return on their investment they have to put their wealth at risk. Gold is for those who have already made their money and need to diversify so not all eggs are in one basket.
Of course it can be a speculative vehicle also. But that is entirely different than owning gold to preserve wealth. Almost any asset can become a speculation. Including gold. | |
|
|
When you own gold, read below
