“The right reason for most investors to buy gold is as a long-term hedge against inflation and financial instability.
Gold is humanity’s oldest form of money and wealth preservation. A
hundred years ago, a gold coin could buy you a custom tailored suit. The
same is true today. The purchasing power of gold remains relatively
constant over the long-term.
On the other hand, fiat money has historically always failed. The US
dollar has not been backed by gold since 1971, which means it has lasted
more than four decades as a purely fiat currency. The history of great
empires suggests that its time is almost up.” — in Finance Townhall
Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as “Doctor Doom” because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called “Crash Proof” and a follow-on called “The Little Book of Bull Moves in Bear Markets”. He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.
Source: The Reason To Buy Gold