Usually this blog draws your attention to gold scams and common issues to be aware of when purchasing precious metals. Of course, it’s also important to understand the reasons for investing in precious metals in the first place, as well as the day-to-day precious metals trends. Since this blog doesn’t offer much in the way of gold news, I thought it would be worthwhile to share with you Peter Schiff’s new “Official Gold Blog.”
There’s been a lot of hubbub in the media lately about the future of gold, especially since it closed out 2012 with a 12-year run of rising prices. However, just as it can be tricky to determine the trustworthiness of a metals dealer, it’s also hard to know which commentators and financial pundits are reliable. Is an “expert” bearish on precious metals because they’re simply playing the markets on a short-term basis? Or perhaps they’re bullish because they’re heavily invested in a certain ETF.
I’ve long written that Peter Schiff is a big inspiration to me. His Gold Scams report got me started on this blog, and he has been supportive of the effort all the way. Schiff’s long-term, big-picture approach to investing is famously consistent (annoyingly so, to some). Schiff has been encouraging people to protect their wealth with gold and silver long before his metals dealer, Euro Pacific Precious Metals, opened its doors – so it’s hard to argue his bullish stance is simply a pretense for selling more gold.
Instead, Schiff’s approach comes from a realistic analysis of global economics: Western money-printing, Eastern growth and need for secure savings, the downfall of the dollar, and no reforms on the horizon. Simply put, Schiff is a lone voice of sound economics in a mass media awash with government-funded professors and lobbyists with their own agenda. Even if you disagree with him, his opinions are worth noting if only as counterpoints to the conventional wisdom. Every investor – whether in gold, stocks, or otherwise – should learn to take in various points of view. And Schiff’s blog is also a great resource for the latest hard news from the metals markets.
Whether you’re skeptical of the long-term potential of gold, or you’re already an avid precious metals bull, I think Peter Schiff’s Official Gold Blog deserves a spot among your bookmarks.
Let us know what you think on our Facebook page, and stay tuned to Gold Scams Exposed for even more buying tips and scams to avoid in the coming year.