Banking On Gold

The news about the sacked CEO’s/MD’s of five Nigerian banks should not come as a surprise rather as a wake up call for those Thomas amongs us. The truth about this scenario is that, there is an ongoing wealth transfer with our economy taking a new direction is an issue that warrants urgent solution for individual/s that takes his/her personal finance serious. The failing banking system is a great signal to fellow Nigeria and other citizen that bank with Nigerian banks that we needs to have full knowledge on what to bank on. Gold and real estate has proved to be the real and only thing you can bank on with their intrinsic value as great advantage other forms of money. Although gold and real estate are the best forms of money you can bank on in times like this but gold has prove to be the best among the two because of the following characteristics.

Gold cannot be..
Printed (ask a miner how long it takes to find it and dig it up)
Counterfeited (you can try, but a scale will catch it every time)
Deflated or inflated (it can’t be reproduced)

Gold cannot be destroyed by…
Fire (it takes 1945.4° F to melt it)
Water (won’t rust or tarnish)
Time (a Gold Coin remains recognizable after a thousand years)

Gold doesn’t need…
Feeding (like cattle)
Fertilizer (like corn)
Maintenance (like printing presses)

Gold has no…
Time limit (most gold mined is still in existence)
Counterparty risk (remember Bear Stearns?)
Shelf life (it never expires)

Gold as metal is…
Malleable (spreads instead of crushes)
Ductile (stretches without breaking)
Beautiful (just ask an Indian bride)

Gold as money is…
Liquid (easily convertible to cash)
Portable (you can hold N5000, 000 in one hand)
Private (no mandatory reporting here)
Gold is internationally accepted, lasts for thousands of years, and best of all, they aren’t making any more of it.
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These are the reasons that I personal choose gold as the best asset to bank on over real estate. While real estate is also a good choice, gold is the better one and I would highly recommend it to any individuals that are thinking of what to bank on at this crucial time of our economy. There is a very need for you to educate yourself more on what to bank on and which bank to bank with. I won’t want to lay more emphasis on which bank to bank with because it’s against my professional ethics. But I can tell you authoritatively that the storm is yet to be over.

Majority of us think that gold is an investment but I always try to tell them that it’s not. Gold’s primary purpose is to preserve your purchasing power. Whether it be roaring inflation, or currency debasement, or economic upheaval, or out-of-control government spending, it has been the absolute best form of protection throughout the history of mankind.
Let me prove what an ounce of gold/silver has been able to purchase at various periods in history, and how its compares to today.

1000 BC: King Solomon was known to have purchased many horses for his army. Historical records show he bought them in Egypt for 150 shekels of silver each. 150 shekels was about 55 troy ounces of silver. Today, you can still buy a riding horse for 55 troy ounces of silver ($800).

Time of Christ: Under the Roman Empire, an ounce of gold purchased a Roman citizen his toga (suit), a leather belt, and a pair of sandals. Today, one ounce of gold will still buy a man a suit, a leather belt, and a pair of shoes.

400 BC: Some scholars report that during the reign of King Nebuchadnezzar, an ounce of gold bought 350 loaves of bread. Today, an ounce of gold still buys about 350 loaves ($950 divided by 350 = $2.73/loaf).

1979: Gold’s average price that year was $306.68. This bought an average-priced full size bed. 30 years later, $950 would still buy you a full size bed.

Source of Research:- Bullion Vault News

The power of gold/silver has an assets to bank on can not be over emphasized and history has proved that gold has been and would be the only thing that has an intrinsic value-true money.

I will like to conclude this post by inviting you to a financial business empowerment coming up on the 7^th September 2009,if you are interested in being a part, kindly reserve your seat by contacting me HERE. Or send SMS to 07031543066 with the subject INTERESTED and you will immediately receive your seat number. Hope to see you there!