https://goldswitzerland.com/why-buy-gold-when-there-is-bitcoin-tesla/

WHY BUY GOLD WHEN THERE IS BITCOIN & TESLA
March 24, 2021By Egon von Greyerz

*** begin quote ***

TWO DOZEN REASONS WHY OWNING PHYSICAL GOLD IS IMPERATIVE

Let me give people who are frustrated with the gold price the reasons why they shouldn’t be:

1. Firstly, physical gold is not bought for instant gains but as insurance and protection against a rotten financial system and constantly depreciating currencies.

*** and ***

5. In relation to US money supply, gold is today at the same level as in 1970 when the gold price was $35 or in 2000 when gold was $290.

*** and ***

20. Exponential deficit and debt growth combined with galloping money printing will inevitably destroy most paper currencies in coming years.

21. The major structural shortages of physical gold and a failure of the gold paper markets could make physical gold unavailable at any price.

*** end quote ***

Yes, I am a goldbug. Aside from its beauty and simplicity, it’s the only asset without a counterparty risk.

When I consider the debt and deficit, I don’t understand how the USA doesn’t become like the Weimar Republic?  (You know where the children played with bank notes, bundled of notes were burned for heat, and some wag said: “Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.”  (Yes, I know it was Milton Friedman)

When you consider the currently in charge politicians and bureaucrats, who want to raise taxes and create a wealth tax, what better way to “insure” your portfolio.

Remember in “beans, bullets, bandaids, and bullion”, gold is number 4. 

I won’t quibble if you add a fifth B — bitcoin — to the list.

Sigh!

Glad I won’t be around to observe or absorb the suffering.

—30—