Some investors have decided to buy gold for diversification purposes today, and this move garnered widespread support from many American economists. Many of our nation's economists have grown increasingly bitter and condemning about the problems within our nation, and these same economists have admonished American investors to buy gold for diversification purposes. Peter Schiff is one of these proud voices, and he has clearly stated where he stands on our current administration's ideas for more stimulus aid. Schiff said that if our lawmakers continue to "replace legitimate savings with a printing press," our nation's economy could collapse. Many American economists have called for the gold price to rise substantially as our nation continues to execute their radical monetary policies.
These policies have included, but are not limited to, the following: a $787 billion bank rescue, emergency extension of unemployment benefits for up to a year and a half, $4500 for new car purchases by buyers who can't afford or will soon not be able to afford the payments, an $8000 tax credit for home buyers who are in the same situation as the "Cash For Clunkers" beneficiaries, and multiple other programs that have allocated up to $23 trillion to "jump-start" our economy. A list like this can easily shorten your breath, even if you are only reading or writing the words. With $23 trillion, couldn't we almost build a new economy instead of trying fix the old one? Investors who buy gold for diversification purposes do so because of the possible profits that could be involved, but the safe-haven status of gold is the primary motivating factor for many of these same investors. As our economy spirals downward due to the influx of overprinted dollars and US debt, a properly diversified portfolio could live to tell the tale of the worst economic crisis since the Great Depression.
Steven Martin
Senior Gold Specialist - Buy-Gold.org
