When I asked myself how I could be of more service to people, I was introduced to gold. I continue to be astonished by how much there is to know about this shiny metal beyond jewelry. This morning I offer you 7 things you ought to know about gold because none of us can defend ourselves from something we can't see.
1. Central Banks continue to buy and repatriate gold. Repatriation means they are converting currency into gold. An example we ought to all follow.
2. Texas began building its own gold reserves prior to June 2015. The only state to do so.
3. 2015 delivery of physical gold from the Shanghai Gold Exchange reached a record 2,596 tonnes, representing 90% of the total gold output for the year.
4. The Peoples Bank of China added 16.44 tonnes of gold in January 2016. Remember this was a shaky month for the Shanghai Stock Exchange.
5. According to Frank Holmes, money managers and hedge funds continue to increase bets on gold's ascendancy. Data published February 2, 2016 by the CFTC (Commodity Futures Trading Commission) reveal net long position contracts rose to a 3-month high of 100, 566 in one week, while short terms declined by 7,412.
6. According to the WALL STREET JOURNAL even though the Federal Reserve Bank bumped interest rates in December, it has already dropped hints it will follow Sweden, Switzerland, Denmark, and Japan by dropping rates into the negative zone. These countries combined represent 23.1 per cent of global GDP. Negative interest rates gives banks the authorization to charge depositors a percentage for holding their money. Remember, we used to get 5-10% interest paid to us for having a savings account or certificate of deposit. Gold holds its value and there are no hidden charges.
Here's a bonus point for you: Robert Kiyosaki recommends owning gold and silver to protect the value of our earnings. He also suggests partaking an MLM as a source of passive income or perhaps an step toward entrepreneurship.
So, here a 7 reasons we should rethink our growth strategy to include gold in our future. After all, if the Central Banks and money experts are doing it, why shouldn't we?
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