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Ron Paul Explains His Plan For “Monetary Freedom” And Returning To The Gold Standard
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Archive for November, 2011

Ron Paul Explains His Plan For “Monetary Freedom” And Returning To The Gold Standard

Ron Paul lays it out: “We know what to do – we did it once after the Civil War period, we went from a paper standard back to the gold standard, and the event wasn’t that dramatic. But today the big problem is that both the conservatives and liberals have an big apetite for big government for different reasons, therefore they need the Fed to tie them over and monetize the debt. So if you don’t get rid of that appetite it’s going to be more difficult, but the transition isn’t that difficult.

You have to get your house in order; you have to balance the budget, you have to not run up debt, and you have to promise not to print any more money… I would like to have a transition period and just legalize gold money, gold and silver as legal tender, and work our way back… We want to legalize the use of gold and silver as the constitution dictates, rather than punishing the people who try to do that… I am quite convinced that the system we have will not be maintained – that’s what these last 4 years was all about, and that’s what the turmoil in Europe is all about. The question is are they going to move toward a constitutional form of money. or are we going to go another step further into international money – instead of having an international gold standard based on the market, are we going to go toward a UN, IMF standard where they are going to control with the use of force another fiat standard.

I consider that a very, very dangerous move.” And precisely due to that piece of phenomenal insight which nobody else in the GOP or Democratic roster is even parsecs away from grasping, is why Paul can never be allowed to be elected, why he must be mocked and ridiculed by a co-opted ADHD media which focuses on how many mistresses some other idiotic presidential candidates has, instead of focusing on the one person who grasps the big picture: the status quo can not be held accountable to a political leader who understand not only how the system is rigged, but why it is broken to begin with and that there actually is a way out. However, to the “status quo’s” chagrin, one that involves the wiping out of generations of plundered middle class wealth to keep the richest denizens of ‘extremistan’ ever richer.

A Silver Price Surge Coming? Sprott To Buy $1.5 Billion Of Silver Bullion!

Sprott To Buy $1.5 Billion Of Silver Bullion! (PSLV, SLV, AGQ, ZSL, GLD)

The silver price could explode higher in coming months. As the silver and gold price predictably fade ahead of option expiration, JP Morgan’s bullion manipulation scheme could be headed for unprecedented problems, not from the record purchases of gold and silver from the Chinese, Indians or Russians, but from one Canadian billionaire.

Canadian-based Eric Sprott Management CEO Eric Sprott filed a follow up prospectus for the purchase of an additional $1.5 billion of silver bullion to cover expected demand for the company’s exchange traded fund (ETF), PSLV.

Combined with the recent decline in the PSLV premium to spot silver to 14 percent from the typical 20 percent, along with Sprott’s reported sale of some of its holdings of PSLV at the rich premium, it appears a familiar hallmark of a gigantic $580 million silver bullion purchase in December of last year emerges once again. Since demand for silver products at Sprott remain brisk, it should come as no surprise to the silver world that Sprott needs more silver.

Yet, only two Web sites mention the breaking news, The Globe and Mail and bullion market reporter Harvey Organ, HarveyOrgan.blogspot.com. Don’t expect Eric Sprott to herald the milestone purchase; he’s trying to avoid investors front running the purchase.

“Since Sprott filed its prospectus last Friday, PSLV units have come down 12 percent, while the price of silver has dropped only 6 percent,” stated Canada’s daily newspaper, The Globe and Mail, on Nov. 18. “Whether or not the new filing is the root cause of the difference doesn’t affect Mr. Sprott much. He has been selling his PSLV units for most of the year (as documented by kid dynamite.)”

Because Sprott today represents 1/2 the size of the Hunt brothers wallet and their attempt to corner the silver market in 1979-80, nimble investors have taken advantage of the bulky Sprott in the past by front running his purchases, as his size and legal entity requires him to file with Canadian regulators – an issue he laments of during his interviews.

But for silver investors, the regulation could be a boon to the silver price, as the last time Sprott needed substantial inventory, the silver price soared 177 percent, though Sprott’s purchase cannot directly be proven to be responsible for all of that monstrous move.

However . . . more than four years earlier, in April 2006, prior to the launch of the NYSE version of PSLV, the Barclay’s iShares Silver Trust SLV, spot silver at the COMEX more than doubled at its price peak leading up to the launch of the SLV to $15 from $7.50, as late as September 2005 – a double within six months, or a 200 percent ARR.

Moreover, further evidence of a coming silver price mega pop may be gleaned from the exciting silver rally of July 2010 to April 2011. That monstrous rally could easily be rivaled soon, as Sprott apparently gears up for a whale of a purchase, $1.5 billion of silver bullion – a nearly three times last year’s $580 million purchase and coincidental 177 percent explosion of the silver price.

“Today the Globe and Mail announced Eric has filed a short form follow up Prospectus for a billion five physical silver,” respected bullion market blogger Harvey Organ wrote in a Nov. 21 post. “holy jeepers, it could be approved in as little as two weeks people tell me, and he can trigger it OVERNIGHT without warning. Just bang, if he has got the orders. WE all know what happened with his last Physical Silver Issue, it was 580 million and blasted Silver 18 to 50 bucks in 5 months.”

Considering the fundamentals underlying the raging bull market in silver and the confident predictions of, in some cases, another double in the silver price, at least, by spring from industry peer James Turk of Goldmoney, as well as other hard money heavyweights, Ben Davies of Hinde Capital, Jim Rickards of Tangent Capital Markets, Euro Pacific Capital CEO Peter Schiff and QB Asset Management Co-founder Paul Brodsky, it appears the industry insiders to the tiny world of silver anticipated Sprott’s need to replenish – and when Sprott needs silver look out.

What Should The Gold & Silver Price Be?!

You will often read how various experts in the financial press will say that the gold price “should be” about $2000/oz., to $3000/oz., or slightly higher. But what they almost never say is how they arrived at their figures, and what assumptions they are making.

The reality is that the gold price, today, given today’s conditions, should be about what it is right now.

But conditions are likely to change, and change dramatically, and can change very quickly. The conditions that are mostly like to change the most quickly are people’s perceptions and understanding of the reality of the dangers of theft due to inflation.

The US Federal Government is spending about $1.6 trillion more than they take in from taxes, which is $1600 billion, which is $1,600,000 million, which is $1,600,000,000,000 dollars. The news on TV this morning said that the US national debt increased by $400 billion in the last 3 months, which confirms the numbers. They are not able to fix this problem anytime soon. This problem could not be fixed even if they taxed incomes at rates of 100% per year. And they are mostly just printing this money, which creates inflation, which means that prices will go up, for everything, including, and especially, for silver and gold.

Today, very few people in the USA understand that they need silver and gold, and that is likely to change, and historically, those kinds of attitude changes happen very quickly, which result in dramatic and very sudden increases in the prices of silver and gold.

Today, in the USA, only about $3.5 billion is being spent annually on silver, (estimated at 100 million oz. x about $35/oz.) and only about $3.4 billion is being spent annually on physical gold (estimated at 2 million oz. at about $1700/oz.), for a total of only about $7 billion spent on precious metals to protect itself from inflation.

But the USA has about $18 trillion of cash, savings, and short term bonds in the banking system, which can also be expressed as $18,000 billion, $18,000,000 million, or $18,000,000,000,000 dollars.

So, mathematically the reality is that new money creation is about $1600 billion, out of $18,000 billion, which is an annual increase of nearly 9%, and yet only $7 billion out of $1600 billion of new money creation is being spent on precious metals, which is only 0.4%, or expressed another way, is only $1 out of every $229 dollars of newly created money being spent on silver and gold, and only $1 out of $2,571 of money in the banks is being spent on silver and gold, which is only 4% of 1%.

So, currently, this is next to nothing compared to the avalanche of money that is going to be spent on silver and gold.

So, we could ask ourselves the following questions:

“What is likely to happen to the gold price in the event that 1% of money in the USA were to be spent on gold and silver in a year.”
“What if 10% of the money in the USA were spent on gold and silver in a year?”
“What if 10% of the money in the world were spent on gold and silver in a year?”
“What if 100% of all paper money had were to be spent on gold and silver in a year?”
“What if 100% of US paper money had to be backed by all the official US gold?”
“What if 100% of US paper money had to be backed by all the US gold that the US government is likely to have left?”

See, the gold price will be dramatically different, given the different assumptions, as follows

First question. What if 1% of money in the USA were to be spent on gold and silver in a year? Money in US banks is about $18 trillion. 1% is $180 billion. This is 26 times what the USA currently spends on silver and gold, which is only $7 billion. The entire world annual gold market production is about 75 million oz.. The USA buys only about 2 million oz. of that. The USA spends about half on silver, and half on gold. What if that continues? Well, if the US spent $90 billion on gold, at $1700/oz., that would be 53 million ounces. Clearly that kind of new demand would push up the price, probably to triple the current price, taking the gold price to $5100/oz. For silver, $90 billion at $35/oz. would buy 2.6 billion ounces. But here we have a major problem. World silver production is only 0.7 billion ounces, or 700 million ounces. Furthermore, there is no large above ground stockpile of silver, as most has been consumed by industry, and furthermore, most of the silver market is already being consumed by industry, leaving very little left over for investors to bid over, which is only about 150 million oz. left over for investors. But let’s assume that industry gets squeezed out, leaving 300 million oz. available for investors who wish to spend $90 billion on silver. This gives us an easy calculation for the price, which is $90 billion divided by 300 million, or .3 billion.

So, 90 / .3 = $300/oz. for silver

But those numbers are extremely unrealistic. Only 1% spending money on silver and gold? Really? Not likely, it’s likely to be far more. Conditions of inflation are only likely to change when interest rates are as high as the annual increase in the silver and gold prices, which are above 20% per year. After all, why earn 1% in bonds if you can earn 20% in gold?

Second question. What if 10% of money in the USA were to be spent on gold and silver in a year? This would be $1800 billion. Half into gold would be $900 billion. With world annual production at 75 million oz. If the USA bought half of world production, that would be only 37.5 million oz. $900,000 million / 37.5 million oz. is $24,000/oz. for gold. If $900 billion were to be spent on half of world annual silver production, that would be only 350 million oz., which would lead to a price of $2,571/oz. for silver.

Third question. What if 10% of money in the world were to be spent on gold and silver in a year? World money is about $60 trillion. 10% would be $6 trillion. If half were to be spent on total world gold production, that would be $3 trillion spent on 75 million oz., which leads to a price of $40,000/oz. for gold. If $3 trillion were spent on 700 million oz. of world annual silver production, that leads to a price of $4,286/oz. for silver.

Now, the interesting thing about rising prices, is that they tend to attract more money, because everyone wants in on it. People today who think silver is expensive at $35, will be scrambling to buy silver as it just keeps relentlessly climbing. For two reasons. First, they will recognize that dollars are just used paper, like newsprint, and they will be fearful to hold them as their values just keep going down, and fast. Second, they will want to become wealthy, and they will see that they only way to do that is through owning real wealth of silver and gold. So, this leads us to the inevitable question, the 4th question, what happens when the entire US money supply is spent on silver and gold, over a nice, slow pace, of over an entire year. Now, think about that again. This is still well before hyperinflation really kicks in, well before people are spending their entire paychecks on silver and gold the instant that they get paid, and well before the government starts printing new money with several more zeroes at the end of it.

So, 4th question, what if 100% of US money is spent on silver and gold in a year? $18 trillion, or $18,000 billion. Half for gold is $9,000 billion, spent on, say 2/3rds of world gold production of 75 million oz., would be 50 million oz. $9,000,000 million spent on 50 million oz. leads to a price of $180,000/oz. for gold. And if $9,000 billion is spent on 2/3 of world annual silver production of 700 million oz., which is 467 million oz., that would be $19,272/oz. for silver.

But let’s assume that the US government tried to prevent that from happening. Let’s assume that the government would be smart enough to back all US currency with the official US gold, at a rate that would give the dollar a 100% gold backing. (I know, kind of a crazy assumption to assume that the government would be smart, but let’s assume anyway.) The point of considering these numbers is that, in theory, the US government could stop runaway inflation with a 100% gold backing and a balanced budget, but given today’s political climate, that’s currently impossible. But let’s say the Tea Party wins a full sweep of both houses of congress and we get Ron Paul as president, and let’s assume that instead of trying to return to the gold standard, he tries to simply prevent runaway inflation with full 100% gold backing all dollars in all US bank accounts. It’s a very simple calculation $18 trillion divided by 261 million oz. of official US gold = $68,966/oz. Given the previous calculations, silver could hit a 10 to 1 ratio to gold, which would be about $7,000/oz. This is what the gold and silver prices “should” be, given the givens of honesty, and living up to the basic pledge of FDIC “government” insurance on all bank accounts.

Ah, but finally, many people reasonably expect that the US has already sold off a lot of the official gold to protect and defend the dollar at current low gold prices, which is more consistent with government reality and stupidity and rising gold prices. In that event, the dollar is like burnt toast, and there will be no stopping the coming runaway gold price increases.

The reality is that we live in an age of deception, because the dollar is a deception. Over the entire last 12 years of the gold bull market,

I strongly advise you to take possession of real gold and silver, at anywhere near today’s prices, while you still can. The fundamentals indicate rising prices for decades to come, and a major price spike can happen at any time.

Gerald Celente Hammers MF Global – Another Reason To Buy Physical!

Gerald Celente founder and director at Trends Research Institute and publisher of the Trends Journal tells us how he has become a casualty of MF Global’s bankruptcy to the tune of six figures!

The is yet another reason why you should only invest in Physical Silver & Gold

Silver Eagle Bullion Sales Hit New Record In 2011

The correction in silver prices has not shaken investor confidence. In fact, bullion investors have stepped up their purchases this year. With just under two months still remaining in 2011, sales of the American Silver Eagle have already surpassed the record level of 2010 with sales of 36,375,500 ounces. If sales of the Silver Eagle for November and December match the levels of 2010, total sales for 2011 should total over 42 million ounces or more than 20% above the record breaking sales level of 2010.

Investors also appear to be wising up to the manipulation in the silver market as weak hands strengthen. This is evidenced by the fact that some of the strongest sales months during 2011 were during the sharp sell offs. Rather than panic, sell silver positions or move into cash, investors stepped up their purchases of silver eagles coins to take advantage of the depressed prices.

Furthermore, technicals have turned bullish for silver recently after bouncing off support at the bottom line of the trend channel show below. There is very little downside with a huge amount of upside potential, highlighted in the green rectangle below, should silver begin to gap up.

With physical demand remaining robust and investors seeking safe-haven investments in the face of the Eurozone debt crisis, I believe we could still see silver break above $50 by year-end or during Q1 of 2012 at the very latest. I have continued stacking at these severely discounted prices and believe that anything under $50 silver will look cheap in the near future.

While physical bullion in your possession should be secured first and foremost, silver stocks appear to be the better value at the current time. While silver is up roughly 10% in the past 30 days, Silver Wheaton (SLW) is up 23%, Hecla (HL) is up 28%, and Cour dAlene (CDE) is up 28%. Watch for mining equities to end the year very strongly, marking a return to offering leverage to the advance in their respective underlying metal.

Silver Still a Runaway Winner From The Coming Economic Mayhem

If you could only invest in one asset class to hold until the next big bubble is fully inflated then it has to be silver. Gold is already increasingly popular for the same reason.

It is a precious metal of fixed supply and proven monetary value in a world of electronic money creation. Just look at the staggering sums of money magicked out of thin air by the eurozone debt deal at the end of last month.

Inflation problem

The problem with electronic money is that sooner or later it enters circulation and then you have too much money chasing the same number of goods and inflation results. As an investor you clearly want to be an owner of the fixed supply of goods and not the inflating amount of money.

However, both gold and silver are very volatile in price and that puts off savers who want a stable bank account, no matter that they are losing money from the day it is opened as inflation is presently well above interest rates.

Yet why prefer silver above gold? Yes it is more volatile in price swings but put simply the total return over time is going to be higher than gold. The available supply of silver is smaller (click here) and less easy to increase through mining activity and that boosts the responsiveness of the silver price to changes in investment demand.

Investment demand

And that is where the real action will come in the silver price. Investors who make money on gold will increasingly diversify into silver on the promise of higher returns and this move will be somewhat self-fulfilling.

If you want proof that silver is going to outperform gold then consider the jump after the conclusion of the eurozone deal: silver up 13 per cent, gold a little below seven. Then again we could still get one more sell-off like in 2008 (click here).

Silver tends to deliver double the gold price increase to the upside and twice the decline on the downside. So as economic mayhem and money creation continues to leave investors with nowhere else to hide but precious metals, silver will come out on top. In extremis silver could even be worth more than gold

Silver: The People’s Money

In my writing a couple of themes occur with regularity: how “fractional-reserve banking” (with purely fiat currencies) is nothing less than serial stealing from the general population; and how gold and silver can protect people from this cycle of theft.

With respect to fractional-reserve banking, the theft is obvious. The bankers print up vast quantities of their paper currencies ‘out of thin air’, at no cost to themselves – but with the full benefit of that money. Thus their own “wealth” increases exponentially, and without the bankers earning a single penny of it. However, by diluting our currencies in this reckless manner they drive down the value of our money – reflected in higher prices (i.e. reduced purchasing power). We get poorer and poorer; they get richer and richer.

Given that we have a corporate propaganda machine which has spent more than forty years trying to disguise this serial stealing, it is no surprise that it often takes a long time for this reality to sink into peoples’ minds. Sadly, even once people understand the stealing which is taking place, they often aren’t able to piece together how precious metals are the “cure” for this chronic condition.

When I speak of precious metals being our salvation from the bankers’ world of debauched paper, for the average person what I mean specifically is that silver is their primary protection from the banksters’ stealing-via-dilution. In referring to silver as “the people’s money” I am not saying anything new here. Rather I am simply reiterating one of the oldest economic truths of our species.

To understand this first requires understanding two more of the most ancient concepts of humanity. To begin with, people must know the answer to the question “what is money?”. Once they have a clear understanding there, it becomes crystal-clear why gold and silver are the best “money” our species has ever known – and the only “good money” in existence today.

Next readers need to understand the historic price ratio between gold and silver, or in other words they need to understand the 5,000 year old price relationship between the Metal of the Sun (gold) and the Metal of the Moon (silver). This historic 15:1 ratio is absolutely reinforced by the fact that this is also the approximate relative proportions of gold and silver in the Earth’s crust. Thus 15:1 is the “natural” price ratio between gold and silver, and over the long term gold and silver prices must revert to that ratio.

Given that 15:1 ratio (and the much greater, current ratio today), this leads to an obvious inference. Gold, by virtue of being less common and thus more valuable is the “money” of the wealthy and governments. Conversely, by virtue of being more plentiful (but still “precious”) silver has always been the Money of the People.

Once these preliminary concepts are understood, readers should be ready to absorb how and why silver can protect the ordinary person from the serial stealing of the bankers. Remembering how the bankers “steal” by diluting the paper (i.e. fiat currencies) we are holding, the obvious solution to that problem is to avoid holding the bankers’ paper.

If we take the fruits of our labours and convert it into silver as quickly as possible, then suddenly the bankers must do most of their stealing from the other paper-holders – not us. And if every ordinary person converted their wealth to silver as quickly as possible, soon the bankers (and the ultra-wealthy for whom the bankers “front”) would have no one to steal from but each other.

People need to divorce their minds from the notion of “buying silver”, and rather simply think of themselves as doing their “saving” with silver rather than with the banksters’ ever more diluted paper. Indeed, the worst thing we can possibly do with our wealth is to deposit it in a bank – since that simply allows the banksters to ratchet-up their “leverage” even further (i.e. steal from us even faster).

Put another way, every dollar which ordinary people convert to silver (or gold) weakens the intensity/effects of this stealing-via-dilution. This also explains the extreme aversion which the bankers have to a “gold standard”, and why they have disseminated millions of pieces of propaganda over recent decades attempting to portray a gold standard as either being archaic or simply “impractical”.

A gold standard is “impractical” indeed if one is a banker because when it comes to the banksters’ efforts to steal-via-dilution, a gold standard functions like an “economic straitjacket”, preventing the banksters from conjuring any “money” out of thin air. With the absolute refusal of our corrupt and servile politicians to “regulate” these financial crime syndicates, a gold standard would impose fiscal/monetary discipline (and sanity) on both bankster and politician alike.

Lacking a gold standard and lacking any financial regulation of these multinational banks, as individuals we have been left with absolutely no recourse but to “insure” our wealth by converting it to silver. Holding silver will not/cannot “fix” our economies by itself. However, with the self-destructive greed of the banksters and the shameless corruption of our political leaders, the destruction of our economies is now inevitable – and we must protect ourselves individually, since we have been abandoned by our own governments.

As it has done for nearly a hundred years, the corporate media defines such behavior as “hoarding”. Strangely, when we (collectively) hold several billion dollars of silver the propaganda machine calls this “hoarding”, yet these same media talking-heads never mention the word “hoarding” when it comes to the $10’s of trillions in paper wealth being hoarded by these ultra-wealthy (ultra-greedy) misers.

As I have demonstrated in numerous previous commentaries, it is the “hollowing out” of our economies through the hoarding of all these $trillions which is one of the primary causes of our imminent economic collapse. In other words, it was bad enough to have the ultra-wealthy steal $trillions of our wealth, but they have compounded that economic harm by refusing to spend their ill-gotten hoards. If the “other 99%” greatly increase their “saving with silver” (or gold), this will also serve to slow down this hollowing-out process, and will at least help to delay our complete economic collapse.

Our economies remain in desperate need of a total overhaul of our entire monetary system, our tax systems, and our labour markets. Given the saturation level of corruption in our governments, it seems likely that most Western nations must also have radical reforms in their political systems as well.

Holding silver solves none of those other problems. At best, it will “buy us the time” to actually fix our broken economies (and broken political systems). At worst, it will make it a little easier to rebuild our societies from the economic “rubble” left behind by the banksters and their political servants.

Written By: Jeff Nielson

US Mint Sales Show Buyers Want Silver

The US Mint released its silver sales figures, relaying to investors what was already known—investors want silver, and silver only.

The Mint ran into problems during September, taking more orders for coins than it had available in uncirculated condition. As of October 21, the problem in supplying the market with uncirculated coins has been smoothed out, and the market remains hungry for silver coins of all types, except those closest to numismatic coins.

The American Silver Eagle proof coins proved best in the most recent tally. Suspended during September, the coins boasted a 2% increase in sales as investors flock to anything silver. To see such incredible demand for a proof coin shows that there may be a fundamental change in the silver market.

Silver for Retirement

Silver investors aren’t picky when it comes to their silver. Seeking to preserve their purchasing power or profit on a rising silver price, investors seek out the coins that provide the most possible silver for the smallest cash outlay. Traditionally, proofs and other coins have been slow sellers with collectors because they offer some of the highest premiums.

The rise in sales for American Eagle proofs also contrasts in light of weak sales for another mostly numismatic coin, the 9/11 commemorative silver medal produced by the US Mint. The coin launched into a market that wasn’t exactly ready to buy with open wallets as it was willing to purchase silver Eagles.

These two data points may show a growing rift in the market. The commemorative proof coin can’t seem to find the volume that the silver eagle finds, even on a percentage basis. Eagle proof demand rose, while 9/11 coins couldn’t find enough traction to avoid a sales decline.

This should lead careful analysts of the silver market to think that silver coins may be going institutional—economically institutional, that is.

There are only a few choices for bullion investments in retirement accounts. Through the tax code which unfairly punishes bullion investors, the US government also makes certain that retirement savers don’t get their moneys’ worth in bullion purchases.

Modern IRAs, which can be invested in just about anything, cannot be invested in physical metals outside of a few choice silver bullion pieces—American Eagles, Canadian Maples, and Austrian Philharmonics—as well as bars from approved mints.

Knowing that most every coin dealer has a special selection of IRA approved products mostly filled with proof US Mint coins, it appears that IRA buyers are finally picking up steam. If it weren’t for the IRA, demand for all proofs would likely be constant—the market gives us numbers large enough that we would see a normal distribution in silver purchases. Proofs are proofs, and silver is silver.

When one proof coin sees improving demand while another falters, one must think that it is retirement savers that are driving the market. Coin dealers rarely add temporary silver medals or coins to their IRA stock, as there’s no way to be certain that supplies will exist for orders. Production is usually limited.

While IRAs may not be the best investment account to hold silver, it is encouraging to see more people rely on the savings power of metals to fight an inflationary climate. Past the numismatic premium, expensive silver is still better than expensive paper.

Dr. Jeffrey Lewis

Preserving Wealth Via Gold And Silver Bullion

Preserving Wealth Via Gold And Silver Bullion Easier For Middle-income Workers

By Mohd Khairi Idham Amran

Preservation of wealth in gold and silver bullion is easier and more affordable among middle-income workers compared with investing in properties, says a market player.

Online-based trader Mynet Capital Sdn Bhd’s executive chairman Terry Ghani said gold and silver bullion were more economical for the middle income group than properties as they could be bought in small portions and according to the customer’s capacity.

“It’s a tactical asset because you can capitalise on price appreciation…at the same time a strategic asset as a long-term wealth preservation,” he told Bernama in an interview recently.

He said a gold or silver bullion was also better than a property in terms of mobility, explaining that in case the owner needed to move to another place, it would be easier to sell the bullion in the open market as it was the most widely accepted form of precious metal.

Gold and silver bullion can also help tackle inflation, he said, adding that they could hedge against inflation in the long-run.

“Gold and silver are less volatile compared to stocks and other commodities. It is an effective portfolio diversifier,” he said.

Mynet Capital is the purveyor of fine precious metal from internationally accredited mints around the world.

It is also a promoter of wealth preservation in gold and silver bullion, educating people on alternative investment and empowering people in the practice of wealth management using bullion.

Terry said preserving wealth in gold and silver has been a long-time practice among the wealthy but still unpopular among ordinary people due to an assumption that gold and silver were expensive.

He said the company was able to offer the bullion at lower prices as it capitalized the Internet for its business and kept its overhead cost low.

Terry said although the company offered bullion at a lower price, the quality was equivalent to investment grade gold which was higher than jewellery grade.

“All our products are of international standards, minted by international mints from Australia, United States, Canada, Switzerland and Bolivia,” he said.

Products of Mynet Capital can be found on CIMB Clicks Shoppe, Maybank2u and postme.com.my websites.

He said the company also provided special safe storage facility offshore with vaults located in Hong Kong, Singapore and Japan.

Terry said the company was also exploring the possibility of outsourcing the storage facility to Malaysia, adding that they were currently in talks with several parties.