Wolf Money(book recommendation)

 

“The New Case for Gold” by James Rickards mention about the merits of gold as a form of investment. I got to admit I am not a big fan of Gold which had been underperforming since the 1980s. If gold are to trade base on inflation and brought back as a gold standard, it would be selling at more than 10k per ounce vs the $1800 ish which it is trading now. There are a lot of conspiracy theory why gold is not trading at that level. 

The author talks about the merits of Gold as an alternative stored value currency. For eg, in a war, gold is fungible everywhere, it holds it value, there are no currency exchanges losses. He foresee a run on the dollar which spark a rush for gold due to the unstable monetary policy created by the US Fed. He warned when there is a gold rush where everyone want to get their hands on gold, there will be none available for retail buyer. The key is to start your gold staking journey early. There are growing indications major economies like China, India, Iran and Russia are buying more gold and storing it at home due to fear of a collapsing US dollars dominated financial system. Gold in his view will be an useful bargaining chip for future negotiation of a new monetary order after the collapse of the current dollars base system. Countries with higher tonnage of gold will have a louder voice at the round table of a new monetary system.

(Contents)

The author suggested serious gold investors to have their gold stored with a non bank institution where central bank can’t lay their hands on private property. Having gold storage with a banking institution run the risk of gold confiscation imposed by central bank during a crisis or a run on the dollar. The US government had done it during the Great Depression era in 1933. He mention Switzerland as an ideal place for gold storage given their reputation as steadfast custodian of precious assets. In the words of the Author, I repeated the words of the Author, he find Singapore even thou with its solid reputation as a custodian in Asia might not be a perfect place for Gold Storage due to unstable political situation with our neighbouring countries and its close  proximity to China Communist government. (Singapore Gold Association or Singapore Bullion Council please don’t shoot the messenger😁).

There are a few way to get invested in gold beside buying physical gold, one other way is via Gold miner shares, Gold ETF etc. In the end he caution investors of over exposing themselves to gold as gold prices can be volatile. The book is a good read for a quick history on gold and the gold bug investor who wished to harden their view on the merits of buying gold. “The New Case for Gold” goes onto Lone Wolf recommendation due to its well articulated merits on holding gold as part of portfolio management. 

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