Tuesday, August 25, 2015

I’ve always believed you should own gold

I’ve always believed you should own gold and it has played out very well since I got involved back in 2000. It has been spectacular, quite frankly.

Of course it has been a very, very tough game for the last four years here. In my own account, I continue to invest in gold and silver companies. I recently bought a mine in the United States personally. I just took on 40% of another mine here in Canada.

So I’m a believer. I look at the physical supply and demand of gold -- and silver for that matter, where we are experiencing some shortages here.

The demand numbers I’ve seen are way beyond the supply. I think that Western central banks surreptitiously make up the missing supply and that someday they’re going to look in the cupboard and realize that it’s bare.

So far, everyone in the press is downplaying gold but I haven’t lost any conviction whatsoever.

To your bigger question, how do you survive in a recession or a depression?

You have got to take matters into your own hands. Make sure you have essentials and the things you need to get you through. It could fall apart pretty seriously all of a sudden – just like we experienced in ‘08 where there was almost a zero credit available at one time.

That is just as likely to happen this time and it’s hard to transact in an environment like that. So you had better be prepared. Have some ‘good’ currency -- gold and silver.

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