Why Are Banks Buying Up All of the Gold?

Dr. Peterson and Peter Schiff explore the significance of gold as a steadfast monetary anchor and the inevitable transience of fiat currencies.

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[leondonald]

Banks are buying gold and other Precious Metals because of they have remained stable or appreciated in this shambolic times with these banks collapsing, META down 40k, ALLP down 35k, Draft Kings down 6k, NIO down 15K, ABML down 8k, and my wife doesn’t know. I'm just hanging on to Jim Cramer's words about opportunities in volatile times so perhaps, I either wait for a recovery or pick profitable investments to substitute for my loss.

[HugoBergmann-lund]

The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...

[TylerMohn-gl]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[FelineAirstrip]

I've self-managed my portfolio for 30 years, including 3 Berkshire Hathaway Class A shares (BRK:A) bought in the mid-90s for $17, 000 each. I'm now liquidating some positions for new Gen stocks. Should I reinvest in gold given the current stock market instability?

[alexsteven.m]

Considering the current market uncertainty, it appears prudent to consider investing in gold or a gold ETF. I'm contemplating allocating over $300k for retirement purposes. While the potential for short-term gains in a bullish market is enticing, I recognize the importance of maintaining a long-term investment strategy.

[lisaollie]

Banks are buying gold and other Precious Metals because of they have remained stable or appreciated in this shambolic times with these banks collapsing, META down 40k, ALLP down 35k, Draft Kings down 6k, NIO down 15K, ABML down 8k, and my wife doesn’t know. I'm just hanging on to Jim Cramer's words about opportunities in volatile times so perhaps, I either wait for a recovery or pick profitable investments to substitute for my loss.

[tonysilke]

It’s always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I’d say you’re better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.

[Patriciabanks]

People choose to buy gold for various reasons, such as it’s historical role as a store of value and medium of exchange, it’s potential as a hedge against inflation or currency devaluation, and it’s relative scarcity compared to other commodities. Gold also offers diversification benefits to investment portfolio due to its low correlation with stocks and bonds. However, investing in gold carries risks and may not be suitable for everyone. Investors should carefully evaluate their objectives, risk tolerance and financial situation before deciding.Read more

[greasyHands]

"Gold is money, everything else is just credit." - J.P. Morgan

[shellylofgren]

Buying silver and gold is easy, but it is renowned for stability during economic hard times like this. The main problem is investing in stocks, dividends and even cryptocurrencies to grow your portfolio.... I’ve been trying to grow my portfolio of $190K for some time now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions

[silencedogood]

Gold is the money of kings. Silver is the money of gentlemen. Barter is the money of peasants. Debt is the money of slaves.

[jessicamoore]

BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.

[darnellcapriccioso]

Considering the recent developments involving SVB, Signature Bank, and First Republic Bank, reminiscent of the 2008 market crash, is it prudent to continue saving in the United States dollar? Alternatively, would it be wise to contemplate investing in gold amidst these circumstances?

[harryzero]

The intrinsic value in gold, lies in its incorruptability.

[hemidart]

I bought 40, 000 in gold back when it was $385 Canadian an oz. Sold it when it was $2200 oz, bought a house, now I have 2👍
Real estate and gold/silver is always the best

[RobertVardy-ri]

Those who point out that Gold and Silver are bad "Investments" have some good arguments, But Productivity never happens by chance; it is always the result of careful preparation, dedication, and consistency. I thank God for my advisor, Mr Yuval Eric Brokman; with his assistance, I am now financially solid, earning between $10, 000 and $25, 000 every week.

[Nobody-je]

"Facts do not cease to exist because they are ignored."
Aldous Huxley

[DennisJack-kmho]

Gold is a truly remarkable and valuable metal that has captured the human imagination for thousands of years.With all of the current events, what is the best approach to profit from the present market? I'm still debating diversifying my $400k stock portfolio to obtain some profits while minimizing risk.

[hypergraphic]

I'm surprised Peter Schiff didn't mention that the gold standard prevents money printing, thereby preserving purchasing power of a gold backed currency.

[ethimself]

I have been telling people this for over 20 years and they think I'm nuts. Just checked the price of gold from 1970 - till this year and: Is virtually the same as inflation. In a real world crisis it will be the standard currency