Did Forbes Magazine ever get this wrong! | CMI Gold & Silver
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Did Forbes Magazine ever get this wrong!

In November 2016, Forbes magazine (commonly known as “Forbes”) published an article titled “Four Reasons Why Gold Is A Bad Investment.”  Despite being a business magazine with a stellar reputation, established 1917, they really missed the boat with this article.

November 2016 was a “down” month for gold, trading from $1300 to $1180.  So, let’s average it to $1240.  Today, it’s in the $1820 range, a $580 climb, a 46% upside move.

The author noted all the old, hackneyed digs for gold: “Unlike a bond, the metal pays no interest. There is no dividend. It may not protect you against the worst forms of inflation, which are often in health care. And there is no implicit guarantee that it will appreciate in value.”

He did, though, provide a salient warning:  There are lot of people getting scammed into buying it in various forms.  That is what CMI has been saying for 48 years.  We have never promoted numismatic coins, which carry huge premiums because of their dates and low mintages.

(Follow the getting scammed link for stories of investors who were taken by “bait and switch” tactics, where bullion coins such as Gold Eagles are advertised but so-called collector coins are promoted.)

My main objection to the article is that the author never mentions that gold has been valued in all civilizations for six thousand years, and it has never been VALUELESS.  Further, he fails to mention that the U.S. Treasury lays claim to 8,133.5 tons that are stored at Ft. Knox, KY and in the Federal Reserves vaults in NYC.

Additionally, central banks around the world collectively own 34,904.76 tons

Yet individual investors are told that “gold is a bad investment.”

Gold shines especially when governments enter into loose monetary policies, such as now.

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