Our nation’s policy-makers need to adopt a proactive approach to cooling our financial meltdown and solving any reoccurring problems. There seem to be too many chiefs and not enough tribesman, however, because the cacophony of suggestions and barrage of finger-pointing has accomplished little. The example set by our elected and appointed officials has influenced many investors to buy gold and other precious metals. Gold, silver, and platinum allow investors to store their wealth privately, so that their way of life is not affected by radical fluctuations in our financial markets. Our dollar could become insolvent, our stocks could crash, and gold prices could decrease, but precious metals are assets that always sustain value. Unlike individuals who hold certificates of ownership and paper promises, investors who buy gold and other precious metals can claim actual financial independence. Federal Reserve Chairman Ben Bernanke exhibited his own apathy and ambiguity at a conference in Chatham, Massachusetts, this week, but at least his overall ineffectiveness has disappointed many hopeful American investors. "Now is the time for policymakers to take action to reduce the probability and severity of any future crises," Bernanke said. Bernanke’s call to action for our policymakers is somewhat ironic, since Bernanke is our central bank’s acting head. It bodes badly for our national banking system if Bernanke, who is widely considered to be one of the foremost experts on the Great Depression, is looking to others for answers.
The Federal Reserve has shown some initiative to strengthen our financial system, but most of the Fed’s recent actions have evoked no consumer confidence, and has instead fueled their anger. The Federal Reserve revealed their latest scheme to placate American investors on Thursday, and this plan would prevent top executives from taking unnecessary risks with clients’ funds. This plan lacks backbone, though, because gaping holes in the proposal would allow CEOs, CFO, and other decision-makers to keep their lavish lifestyles intact, even though their companies have received billions in taxpayer assistance. Investors who buy gold and other precious metals use these types of investments as their last line of defense in this volatile financial world, and the profits that precious metals could render within the next decade would also be appreciated.
Steven Martin
Senior Gold Specialist - Buy-Gold.org
