Gold: The One Commodity Buffett and Bernanke Just Don’t Understand

Jon Economy, Fiscal Policies, Gold, Government, Market Commentary, Precious Metals

The Royal Mint gets it.
Because I see such deep value in gold today, I was exploring various national mints last week, looking to buy some bullion – maybe some Austrian Philharmonics, some Canadian Maple Leafs or a few Britannia’s from the U. K.
And while reading through the bullion site for Britain’s Royal Mint, I came across some highly unexpected commentary.
While the likes of Ben Bernanke, Warren Buffett and others here in the States offer inane commentary on the uselessness of gold, the 1,100-year-old Royal Mint had this to say:
Gold is the ultimate store of value.
Gold is the original and still the most far-reaching global currency.
Gold is perhaps the ultimate form of insurance.
And, yes, the Royal Mint put those words in boldface.
That should tell you something – namely that gold bullion, at today’s lower prices, is an asset you should be adding to your portfolio.
What They’re Saying About Gold Warren Buffett once famously said that gold ‘has no utility. Anyone watching from Mars would be scratching their head’ over the Earthlings and their fascination with a metallic element. Meanwhile, former Fed-head Ben Bernanke once told Congress that gold is not money and it is just a precious metal – the price for which ‘no one really understands.’

This post was published at GoldSeek on 12 November 2014.