The global economy thrives on debt and credit. Most people don’t realize that the U.S. dollar bills they have in their wallet are actually a debt of the Federal Reserve.
On the other hand, gold bullion and coins are NOT debt and have no counter-party risk, in contrast to debt based assets like the U.S. dollar bill.
In a hopefully unlikely collapse scenario, should you own gold and silver with no counter-party risk, or debt based paper that might be worth much less in purchasing power, or could become utterly worthless?
Given the debt policies of the western financial world, owning gold and silver makes far more sense!
Image and article via deviantinvestor.com
If there is a collapse of the global money system coming, what is the safest store of wealth for private citizens?