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One More Reason To Hold Physical Gold
Posted April 7th, 2014
TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - The Gold price dipped slightly on Monday, easing to $1,298.54 an ounce following its biggest one day jump in three weeks on Friday, while silver slipped to $19.92 an ounce in thin trade as markets in China remained shuttered for the final day of the Qingming Festival. The dollar fell 0.1 percent against a basket of six major currencies while the Dow suffered triple digit losses as investors digested the weaker than expected jobs numbers from Friday's non-farm payrolls report.
"In hindsight, the nonfarm payrolls were relatively disappointing, given that there was a month-on-month decline," said Jonathan Butler, of Mitsubishi. The euro was also reported to be under pressure on Monday as the ECB mulls whether to undertake a quantitative easing (QE) program similar to the one that the U.S. central bank has had in place for several years.
Meanwhile, in the U.K., it seems that the government granted itself the power to raid its taxpayers’ bank accounts and confiscate their deposits, and the taxpayers just found out. “George Osborne is facing a backlash over plans to give HM Revenue & Customs unprecedented powers to dip into taxpayers’ bank accounts to seize unpaid tax debts,” according to the Financial Times.
The idea was first broached in a 2007 consultation, but was rejected after widespread criticism over inadequate safeguards and the risk of error by HMRC. “HMRC doesn’t have the best record of getting things right,” said an unnamed banking source.
“The victims will be people with just enough money to go after but not enough to hire lawyers to fend it off”- said Liberal Democrat MP, John Thurso. It's for this reason that investors prefer to hold a portion of their wealth in physical gold and silver and apart from the banking system where confiscations or frozen accounts can occur for any number of reasons, no matter what country you live in.
It's important to protect your hard earned wealth during these times of economic uncertainty, and at Tangible Investments (learn about us here), it doesn't matter whether you're new to precious metals or a seasoned veteran, you will always be dealing with top industry experts. Take a moment and browse our vast selection of valuable collectibles, then call Toll Free 1.800.741.5014 today and let the helpful staff at Tangible Investments assist you in your next purchase or sale. Have you claimed your FREE COIN yet?
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