When you think about investing, stocks and bonds are probably the first things that come to mind. After that, you might think about real estate and mutual funds. But, there are all types of other things you can invest in. You could invest in ira silver or gold ira, for example.
Traditionally gold has been used as a hedge against inflation and as a back up when there was no economic crisis looming on the horizon. During the late 1970s when debt was out of control, inflation was running rampant and the world was in turmoil, gold prices increased dramatically.
Gold is commonly thought of as a pretty yellow metal used to make jewelry. Because gold is basically useless, people tried to find some use for it, and decided to make it into jewelry. It can’t be used in industry like silver and diamonds because it is too soft. But, the Powers that Be have made gold a valuable currency that is recognized all over the world.
Right now, when the world is again in turmoil and on the brink of economic collapse, gold prices have gone through the roof. Central banks of the world, and many private banks as well, are buying up gold like never before. This isn’t because they have all decided to go into the jewelry making business, but because gold is the only currency in the world that can hedge inflation.
When all other currencies become devalued, gold will hold its ground. You can see this by the US dollar. When the dollar rises, gold prices fall because it is not needed as a back up. When the dollar falls, gold prices rise because it has to step up and protect the world economy from total ruin.
In the past gold was the only accepted currency in the world. As countries began to evolve and create their own currency, gold was not used in every day transactions any more, but it never lost its status as an acceptable currency all over the world.