BlogFrom last week in The Daily Reckoning, Joel Bowman discussed the following:

There is beauty in life, and there is truth. The two are not mutually exclusive, necessarily, though a coincidence can be rare. Often times, the truth is not as attractive as we would like for it to be. And sometimes beauty is but a lie. But every once in a while, the two converge...and the result is rarely displeasing. More on truth and beauty below, but first, a look at the unusually ugly, perennially untrustworthy financial markets...

He continued:

While it is true that markets react to events such as those described above, it is a mistake to assume that said events occur in a vacuum. Far from being the cause of market distress, they are in fact symptoms of a much greater problem. It is a problem that ratings agency Moody's - typically late on the scene - addressed just this morning, when it threatened to place the US government's rating under review for possible downgrade if there is no progress made on increasing the statutory debt limit in coming weeks.

Now is where he discusses the attributes of owning physical gold:

Gold, that magnificently honest metal, responded to Moody's announcement exactly as you would expect it to respond. It rallied. In fact, it rallied by about $15 within a couple of hours.

In many ways, gold can be seen as a kind of BS barometer. The less trustworthy a currency becomes, the less respect gold affords it.

I agree wholeheartedly with Joel, as he concludes about safe haven gold, physical gold with this:

Gold is beautiful for many reasons, but chief among them must be the fact that it doesn't tell lies. Gold is beautiful and it is true, in other words...and it is also beautiful because it is true. It responds dutifully, dispassionately to safe haven demand; demand nurtured by reckless and untrustworthy policies perpetrated by those in a position to manipulate dishonest paper currencies.

Call for some beautiful, physical gold from us today at Lear Capital!