Gold: The currency of choice

Gold Investment - 31 May 2010

Gold remains the currency of choice if one considers the panic the sovereign debt crisis in Greece has unleashed on financial markets worldwide. This may lead to the collapse of the euro as a currency altogether, especially if one considers that countries such as Germany can be expected to do away with the euro in the months and years to come.

Invest in precious metals today! Contact us for details.

Invest in precious metals today! Contact us for details.

The Greeks are buying gold sovereigns…

It must not come as a surprise that the Greeks are buying British gold sovereigns as if it’s going out of fashion. They know what’s coming and it’s going to be ugly. 

Gold Investment has previously warned of a looming monetary collapse due to the use of fiat currencies, currencies not backed by gold, since there are no or little restrictions on the amount of debt that can be created through the printing of worthless non-redeemable paper notes. The same applies to the euro, especially if one considers that the euro is a relatively young currency. What makes the euro even more dangerous to hold as a currency, despite the fact that it’s a fiat currency, is the fact that trouble in one area or region of the European Union (EU) can easily overflow into other areas or regions and ultimately adversely affect a huge part of the world economy.

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