Buy some physical gold, then do nothing with it
Remember where it is, but forget you have it. Live without it. Most people will not do this, but I believe many will someday wish they had.
What a weekend. An attempted assassination, a significant reversal of Trump’s legal difficulties, and a new Republican Vice Presidential candidate. It feels as if the world will never be the same.
That is probably true, but it doesn’t mean everything has changed.
Sixteen months ago, in March 2023, I did a podcast advocating gold ownership. Today, as I was working on the last chapter of my book (yes, it is coming!) I reviewed that podcast and its attached PDF notes. If I were doing that presentation for the first time today, I would not change a word. The price of gold has changed (up 30%), but the reasons for owning it in the long term have become more compelling. I hope all of you - veteran subscribers and new members who may have not seen this piece before - will review the video. You can enjoy it at 1.25x, making it about 45 minutes long.
I have a number of reasons for re-publishing this piece. One is to reiterate the importance of owning gold as part of your long-term savings plan.
Another is to allow new subscribers (thanks, ya’ll) to get some information they may not have seen before.
Yet another is to offer you an alternative to the dominant financial news, which is full of distractions that divert your attention away from the more significant, long-term risks that lurk in the investment world. The main risk, which gets precious little attention from politicians and pundits, is the problem of our long-term sovereign debt and the financial repression governments will inflict upon us to deal with it. Gold is the “go-to” asset under financial repression.
So take a break from the daily noise, watch the video, peruse the PDF file, think long-term about your financial future, smash the “like” button, and start investing in gold if you have not already done so. As always, comments and questions are very much appreciated.
Thanks for reading and listening!
HardmoneyJim
July 13, 2024
Looking forward to the book! I would emphasize that your posts on gold had a large positive impact for me and my understanding of the world. Thank you, Jim! PS Rereading Capitalism & Freedom right now. Currently in the chapter where he talks about the economic "stability" (sarcasm) that the followed the invention of the Federal Reserve.
Your advice is right on. Thanks.