Easy Debt Settlement

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Gold is a well known hedge against inflation, uncertainty and a falling dollar. Since this pretty much sums up the environment weve been living in for the past decade, its easy to see why the value of gold has been on the rise. But thats past performance and as we all know, past performance is no guarantee of future results. So is gold still a good investment?

Im not going to pretend to know the answer to where gold is going in the future, but here are some things to consider. Quite frankly, they are no small part of why I was convinced to invest in gold in my IRA a few months back when the price dipped.

 

Budget busting entitlement programs.

Unfunded entitlement programs will force future income earners (you, your children and grandchildren) to keep less of their income after taxes, thereby shrinking available wealth.

U.S.

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Tags: Gold, Gold Ira

Ever since the news broke out about current President of Venezuela, Hugo Chavez, who wanted to have 211 tonnes of gold transported back to Caracas, the news have been covering this and wondered how he was going to do that. This amount of gold is worth over US $12 billion. Finance Minister Jorge Giordani said that the weakening US dollar, a near-default by the US government and the European sovereign debt crisis has been threatening Venezuelas savings and they will be more secure at home.

It is common that the hoarded gold by various countries are not actually held in those various countries. One of the example is Germany, who has 60 percent of their gold held in the United States. About last week Chavez demanded to have their gold, 211 tonnes of it, delivered to their home.

The 211 tonnes of gold comes in 400-ounces bars and there will be about 17,000 bars to be shipped to Venezuela, mostly from the Bank of England, in London and some from New York and Toronto.

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Tags: Gold, Hugo Chavez