Gold is Money – Investing in the “Universal Currency”
Don’t get infected by COVID-19. Save money. Invest strategically to make more money in the future.
And realize gold is money. Gold is the only reliable and universal currency on Earth.
Those are my life mantras now.
The money in your pocket, and in my pocket too, is called a, “fiat currency.” Fiat currencies have no inherent value.
The paper money in your pocket only has value because you believe it does. And, because you believe in the strength of the government that issued it.
Until 1933, money was back by the gold. It was called the gold standard.
If you watch the news, governments, heads of state, rich people, and corporations transact in gold.
Why do you have fiat currency in your pocket?
Why do I?
That explanation may have to wait for another column.
For now, I will build a diversified investment portfolio within the next year or two. Now is the best time to do it, considering relative affordability.
Gold is money. It’s the universal currency.
An Affordable, Diverse Portfolio
I am fortunate to be working. And, I don’t take that for granted.
Being able to work is not something anyone should take for granted now.
Nonessential workers must telecommute if possible. Many want to but can’t or must learn how.
Over 26.5 million Americans have lost their jobs since COVID-19 began encircling the world in earnest in early 2020.
Every Thursday, new unemployment insurance application numbers are announced. It’s no stretch to imagine that millions more will apply in the coming weeks and months.
My point is that it’s time to think about money – now more than ever.
If you can save money, save money. Investing may not be the priority if you are from the working class, like myself, for obvious reasons.
However, this pandemic has made me realize that I should develop an investment portfolio sooner than later.
It will be relatively affordable to form a basic, diverse portfolio now as opposed to a few years from now.
Airline stocks. Cruise line stocks. Junk bonds for entertainment companies. U.S. Treasury bonds. Investing in startup companies trying to find a COVID-19 cure or vaccine (Talk about a gamble).
Oil dropped to a value of -$40 per barrel last week. (Yes, a barrel of oil was worth less than ZERO – think about that).
The world resembles a horror movie. I know that. But one can either give into the horror or look for optimism and opportunity.
The Future is Now
The point is that I know many people can’t afford to invest now. Prioritize your needs. Staying safe is important.
But save money, learn about economics, and responsibly invest.
Learn about money now. Soon, many people are going to be without it.
If you’re able to save money and invest in the near or long-term future, consider investing in gold.
Fiat currencies can be compromised by pandemics, economic crises, and inflation.
Why do you think governments, heads of state, rich people, and corporations transact in gold?
Gold isn’t cheap. This is a goal I must aspire to.
Remember, investing in gold is investing in financial security. Gold is money. It’s one of the oldest forms of money and the one true universal currency.
You have other priorities now. I do too. Its something to keep in mind.
Don’t do invest on a whim. Consult a financial advisor.
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Allen Francis is a full-time writer, prolific comic book investor and author of The Casual’s Guide: Why You Should Get Into Comic Book Investing. Allen holds a BA degree from Marymount Manhattan College. Before becoming a writer Allen was an academic advisor, librarian, and college adjunct for many years. Allen is an advocate of best personal financial practices including saving and investing in your own small business.