Why Are Americans Underinvested In Gold and Silver?
Although there are no definitive statistics on how many Americans own
gold or silver, the number is certainly small. A Gallup poll earlier
this year showed that 28% of respondents thought that gold was the "best
investment" but the actual number of people actually owning
some form of gold or silver bullion is far less. A Kitco poll indicated
that the number of Americans owning precious metals may be as low as
1%.
Despite the steady erosion in the purchasing power of the U.S.
dollar, Americans retain their faith in paper money, apparently
oblivious to the destruction of their wealth. Monetary debasement is an
insidious process that few Americans fully understand as explained by
economist John Maynard Keynes in 1921.
This is one of the greatest puzzles to me Bill.
ReplyDeleteIt appears that nihilism has so gripped the education system that even very well educated people can't seem to grasp that hanging on to debt based fiat dollars can only result in poverty and destruction.
Sadly, to date, much of my efforts to influence the people I know seems to be in vain.
I share your pain PW. I have managed to open the eyes of three couples, the rest still linger in limbo. But! they are starting to ask questions which is a positive note. But alas the window of opportunity is closing as many at some point in time will be or are arriving at the point of being priced out.
ReplyDeletePeople are still concentrating on the Paper price of metals I concentrate on the accumulation of assets not the daily paper price swings.
Be well