“We must keep gold because American dollar is depreciating”
“European countries like Greece, Spain, Italy and Portugal are having debt crisis. We should buy gold.”
“Capitalist economy is moving towards destruction. Keep gold.”
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This is the tagline that I get, whenever I meet anyone, advocating the idea of investing their money in gold…. and for some of my clients, they have been asking me, the best time to buy gold. My clients asked me, when the price of gold will goes up, and when the price of gold will goes down.
Some told me, even since the end of the Bretton Woods agreement in 1971 (previously paper money is backed by gold), paper money become useless as there is no intrinsic value to it.
Central banks can print money as they wish to bail out troubled financial institutions, fund wars killing innocent civilians, ......