“To combat the wealth-destroying effects of runaway inflation, Goyette recommends you put 25% of your portfolio into gold and silver, ideally physically held. He offers expert, detailed advice on how and where to buy it. Goyette’s chapter on buying gold is one of the most cohesive and useful chapters in his book. His expertise in the field shines through.
Subsequent chapters aren’t as well-defined, but do offer detailed background information on each recommended investment. The next chapter talks about silver. Chapters on investing in oil, natural resources, commodities, bonds (using a long inverse strategy), and foreign currencies follow.”
That’s from a review of libertarian media man Charles Goyette’s “The Dollar Meltdown,” reviewed by Business Pundit, via Lew Rockwell.
Goyette’s book debuted at Number 10 on the New York Times best-sellers and has been getting rave reviews everywhere. I’ve been interviewed by Goyette a couple of times, and his views then were as unflinchingly honest as they are in this book. For those of you who’ve been asking me about gold, this might be a place to start..
using a long inverse strategy – is that another way of saying shorting bonds?
Around here, bonds are golden in the eyes of many, unbelievably so. For every little reason, people buy bonds: a child is born or has a birthday, a pay raise, or a use for any other, “found” money. This must have been what it was like for gold decades ago. Is that what it’s like in India? Is that why India is known as such a big buyer of gold? That’s my impression.
Bad mouth bonds and most people freak out a bit, as if it’s unpatriotic and unreasonable… perhaps it is?
Lately, I’ve been wondering about micro-commodities, a way for the little guy to invest in say, a field of potatoes… there’s probably some reason why that won’t work though. Hook up a webcam so the investor can watch it grow? HAHA… no way to turn enough of a buck on that most likely. Profit feedback mechanism, I love that tool.
Clark, I do think there’s a future in micro-commodities, especially for people who don’t have huge amounts to invest. One example that’s been a raging success is cow-share programs that pay out a dividend in raw milk. It’s a win-win for farmer and shareholder-consumer.
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