The National Inflation Association (NIA) has issued advice on how Americans can protect their assets in the face of inevitable inflation.
It said the actions of president Obama, Congress and the Federal Reserve are sowing the seeds for hyperinflation, and it is important to invest today because it will be too late when the calamity arrives.
According to the association, investment in gold is the surest way to protect one’s assets against depreciation.
"There is no such thing as having too much gold," it says, adding, "Although you should never put all your eggs in one basket, it is much better to have all of your money in gold than to have it all in U.S. dollars."
The organization says the present price volatility is a temporary phenomenon stemming from the fact that many short-term traders buy gold as a safe haven from stocks.
Regarding the ways to buy gold, NIA suggests physical ownership as one option that will preserve the buyer’s purchasing power.
However, given the inconvenience of storing gold bars, it says the best ways to invest in gold is through exchange traded funds and notes known as ETFs and ETNs.
The way to get rich during hyperinflation is to buy the right gold mining stocks, NIA concludes.
"Gold exploration companies have the greatest upside potential, but also the most risk," it suggests, adding, "What you need to look for are gold exploration companies that have joint ventures with top-tier miners."