Lear Capital: Dave’s Top 10 Reasons Not to Buy Gold!

 
on February 26 2013 8:38 AM
Canadian Maple Leaf gold coin
Canadian Maple Leaf gold coin Reuters

“Fair, balanced and unafraid.”  That is the mantra of Brett Baier as he ends his daily broadcast of the Special Report (@SpecialReport) on the Fox News Channel.  It got me thinking.  It’s no secret that I believe every saver and investor should own some gold.  Diversification is the key – don’t keep all your eggs in one basket – spread the risk – blah blah blah!

While, this philosophy may be shared by many financial experts and advisers, there are those who do not believe in precious metals as a hedge against debt and market uncertainty.  With the likes of Warren Buffett in the anti-gold camp, if you will, it is hard for some to take serious, the repeated pro-gold story.  After all, with a $50 plus billion dollar net worth, who am I to differ?

So, I decided to take a stab at being fair and balanced and for once seeing the other side’s point of view.  My mission was to come up with reasons not to own gold and then to pick my Top 10.  I have to admit, I came up with a lot of them, but these made the list.

If you think…

1.   …Central Banks are buying gold in record amounts because they think the purchasing power of the money they print will rise – Don’t buy Gold!

2.   …hyperinflation is not coming – Don’t buy Gold!

3.   …there is no correlation between rising debt and rising gold prices – Don’t buy Gold!

4.   …someday we can stop printing money – Don’t buy Gold!

5.   … printed money is not gutting the purchasing power of your savings, retirement and IRA – Don’t buy Gold!

6.   …the Fed is buying treasuries because there are so many other willing takers – Don’t buy Gold!

7.   …the Fed loves a strong dollar – Don’t buy Gold!

8. …our real national debt is just $16 trillion and not $80 trillion – Don’t buy Gold!

9. …your pension fund is not underfunded – Don’t buy Gold!

10. …the stock market is not being propped up with printed money – Don’t buy Gold!

I have to say that was liberating and really nothing to be afraid of.  But, don’t always expect a fair and balanced point of view from me.  I still have my own opinions and as always, these opinions are mine and not necessarily yours or anyone else’s.

For up-to-the-minute breaking gold news and research, remember to visit LearCapital.com or to follow @scottcarter and @davethegolddoctor

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