Right now gold is at an all time high; $1,600 per ounce. Just 10 years ago in 2001, gold was at $265. You might be saying to yourself that’s a HUGE return and I would be a fool to say otherwise. Investing in gold at that point would’ve been a very good investment and most precious metals have expereinced similar exponential gain. Silver went from $4 an ounce in 2001 to $36 an ounce today. Platinum hasn’t had quite the extreme growth in value as the others going from $600 an ounce in 2001 to $1,800 an ounce today. Those investors who took advantage then are selling now and enjoying huge capital gains.
So this poses a question, “why am I not investing in these precious metals now?”. Well, for 1, it’s not 2001 and for 2, gold has never been this valuable in history. Truthfully, it has nowhere to go but down. Back in 1981, gold was experiencing similar growths as it is now. Then, in less than a year it lost 2/3rds of its value. Moreover, the uses for gold is limited. What good is something you can’t use if its value falls? Moreover, as the dollar drops in value, the government is going to get more involved with the trading of gold. There was a period of almost 40 years that US citizens couldn’t own more than $100 worth of gold. What happens if this comes into effect? All that money you invested in gold becomes government property.
This likely answers the first question but that arises another question: “what should I invest in now?”. The answer is simple: vacant land. We’ll start with the uses of land. You can grow food, harvest timber, find water, mine useful or valuable minerals (gold or silver for example) and tailor it to your every need. Historically speaking, land is a much sounder investment. Land has a scarcity aspect to it that contributes to its value; just like precious metals. Land is also a wealth of opportunity and an opportunity for wealth. With all its uses, all in all a much better investment.
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