Asset and Wealth Protection
What really worries me about our future is the unknown that might jump up and bite us. Things that are not only unpredictable but are counter to anything we might expect. Essayist and practitioner of mathematical finance Nassim Nicholas Taleb has a term for unpredictable events: “Black Swans.”
Second quarter numbers show that the economy has slowed to its worst pace since the end of the recession, according to The Associated Press. High gas prices and a lack of income improvements have caused consumers to cut back on spending.
The debt situation in the United States has allowed gold to stay near record highs.
Only once have I looked down the barrel of a gun. I can tell you it was damn disconcerting. It happened 25 years ago. The automatic rifles that were drawn on me then are pointed at America today. Yet President Barack Obama refuses to acknowledge that America is facing Middle Eastern guns.
As the United States economy continues to struggle and the sovereign debt crisis in Europe continues, some forecasts for gold and silver prices are highly optimistic.
With gold and silver hitting new highs, should we continue to buy?
Switzerland has always been among the countries with the highest gold reserves. Despite reducing its reserves in the past two decades, Switzerland still has the highest gold holdings per capita and its currency, the Swiss franc, has been among the top-performing currencies in recent years.
Like many others, we keep watching the jittery European economic scene with a mixture of anxiety and fascination. From Greece and Ireland to Spain, Portugal and, most recently, Italy, the specter of sovereign debt default and its potentially horrific consequences continues to haunt Europe and the wider world beyond.
Gold prices recently reached a record high, in large part because of the sovereign debt crisis in Europe and the impending debt ceiling deadline in the United States.
H.R. 2411, the Reduce America’s Debt Now Act of 2011, states that every worker in America should be able to voluntarily have a portion of his or her wages automatically withheld and sent directly to the Treasury Department for the purposes of paying down the Federal debt.