If US Goes to War with Syria, Invest in Gold

Ron Paul once said that if not the moral reasons, if not the constitutional reasons, it will be the economical reasons that will force the wars to end. With the Federal Reserve's Quantitative Easing ad infinitum already propping up the alleged economic recovery from the recession, another war could only destroy the dollar.

Saddam Hussein's AK-47 made of gold
Recently, I just made the case against interventionism in Syria (see Reflections on Morality, Syria, Foreign Policy, and Miley Cyrus). And since it's slowly starting to look inevitable, my advise is to invest in gold.

Since the abolition of the Bretton Woods system in 1971, most of the world's reserves became the US fiat currency. That means any collapse in the dollar could potentially be a global economic catastrophe (something some of us libertarians see as an inevitability with any form of fiat currency).

Just a while back, the BRICS summit, composed of Brazil, Russia, India, China, and South Africa, discussed potentially replacing the dollar as a the world's standard reserve (see The World is Losing Faith in the Dollar).

It doesn't necessarily have to be gold. Hayek proposed competing currencies. And what's so wrong with competition? As technology advances, some new potential alternative currencies are emerging even with absence of government edict (see also Will Technology Liberate Our Money?).

Protect your hard-earned income. Invest in alternative currencies. In my own strong recommendation: invest in precious metals like gold and silver.

If you liked this post you might also like:
1. Is Gold Money?
2. In Gold We Trust
3. What Gives the Philippine Peso Value?
4. On Wage Labor and the Invisible Tax

1 comment:

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