Why You Should Buy Gold Now?-Part 2

In my last post I made mention of some reasons why I’m convinced that you need to purchase your gold now (either bullion or coin). The present phenomenon about the rush for gold wasn’t ordinary but of a very significant reason which I think It would be kind of me to continue sharing of this gospel to all that care to listen. The fact that central banks, China (America greatest creditor) which has chosen to convert her foreign exchange reserves from American Dollar to the yellow metals (Gold) are all indicating some signals in the commodity market in respect to gold trading and it’s investments. More so, insurance company like one of America’s greatest insurance company has started investing hardly into gold as the only assure means of insurance ever. Just of recent. all national dailies in my country (Nigeria) published the current condition of Nigerian banks stating that it’s only four out of the twenty-four banks are strong, nine are satisfactory, seven are shaken while four are already categorized as stressed. The fact that I also choose to re-publish this issue is not that I want to scare you but to let you know where our economy is heading to and the measures we need to take in other to benefit in the trend rather than regretting. What are the effects of these if this report is anything to go by?

• Distrust of Paper assets:-Bad banks can sink an entire economy. And, perhaps most importantly to the rest of the world, the integration of the global economy has made it possible for banking and economic failures to destabilize the world economy. As banking crises occur, the public begins to distrust paper assets and turns to gold for a safe haven.
• Lose of confidence of our Banking sectors:-Failure in the banking sector can cause a total lose of confidence in that sector resulting in serious financial panic which may eventually makes investors turn to gold has the only portfolio diversification alternative.
• Inflation:-When situation like this occur, Nigeria governments will have no other alternative than to create more paper currency to bail out those banks which in turn will leads to inflation. Inflation may not seem that harmful. And some would even say it’s mildly beneficial, as it can stimulate industry and economic activity. However, it has a hidden and much more harmful impact – that is to depreciate the currency over time.Now that all the financial institution is in this mayhem, the question now is, What can we bank on?What, How and when to bank on a particular items is a very important subject that needs a full confidential and privacy. I will be sharing it to those that subscribe to this posts because it one of my financial strategy which is not financially wise to make it public. I would like to keep it private. If you really want to know what to bank on, Subscribe now or hit my contact page and I will send you the full details.