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I was on a panel at the recent California Investment Conference in Palm Springs and the question was asked, "What percentage of your portfolio should be in gold bullion?"
The first panelist answered 20%. The second panelist said, up to 30%. Then it came to me.
"I have no problem with someone having 100% of their portfolio in gold," I stated bluntly. Many in the crowd laughed. Their laughter confused me. What's so funny about that, I thought?
I went on, "I think it's weird that people find my answer weird."
GOLD IS REAL MONEY
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After all, we are talking about time tested and true money. The only money that has lasted for thousands of years and is still fully accepted worldwide as a store of wealth. Even Warren Buffet had to recently admit that “Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.”
And that from a man who hates gold the way Whitney Houston fans hate Bobby Brown.
So, by stating that I have no problem with someone having 100% of their portfolio in gold I am making an ultra conservative statement. I am stating that I'd have no problem with someone having their entire portfolio in "cash". In real money.
What would you rather hold "for eternity"? US dollars? A paper debt obligation of a bankrupt nation state?
The fact that so many found that to be a shocking statement says a lot about where we are in this current process of the collapse of the fiat currency system.
THE FEAR OF GOLD
There is such a "fear of gold" amongst most people that it must be due to statist indoctrination and propaganda. It makes no rational sense to have such a fear of such a time tested and true store of wealth.
The same people who fear gold seem to have no problem holding a significant amount of their assets in euros in a European bank as Europe burns around them, both figuratively and literally. The euro might not exist 12 months from now but no one seems too concerned. They act like its been around forever and always will be, but it only was dreamt up by globalists in 1999.
YOUR BROKER FEARS GOLD
