“The budget should be balanced, the treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” — Cicero , 55 B.C
In order for us to speculate on the future, we must become a student of history. We must research history to get a glimpse at human nature as it interacts and intersects through cultures. In the quote by Cicero, it sounds like Rome was experiencing some alarmingly similar struggles before its historical fall. Will the cycle of history repeat itself? Would we be naive to believe we are “too big and powerful to fall? Even amongst the technology, knowledge, and mechanization of today, civilizations have been lead and occupied with people with very similar desires, reactions, and fears.
In the generations that have passed, gold and silver have had their place as a store of value. We have recently failed to heed the economic history of fiat currency and currently find our economies suffering as a result. There is a revival of concern happening now that is forcing us out of this fiat slumber and perhaps it will set the course back to standards in which we have value.
Today, bullion still embodies real wealth and real money. Due to its rarity, it will remain a possession that is prized by civilizations to come. Precious metals will hold value for these reasons: Beauty, Indestructibility, Malleability, and Rarity.
Gold and silver are the only globally recognized currencies that cannot be created out of thin air, which makes both great stores of value. Unlike fiat currencies that can easily be debased, gold and silver remain the ultimate forms of money and will stand the test of time.
Have your position in precious metals. I recommend having 5-20% of your wealth in metals. In my opinion, you should have physical to meet the demands of an extreme emergency. In addition to physical gold, I would recommend looking in the mining sector equities for a value opportunity in a mining operation(s) that are in production.
This mining sector is where most of my efforts are currently. I believe there could be an upside to the price of metals, but I KNOW there can be an upside to mining investment in the correct companies. Please see Featured Investments for more information.