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
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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.
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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.
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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.
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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.
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