Imagine the financial chaos that would ensue if there was a widespread, long-term, power grid failure. Business would literally halt.
Stop and think for a moment about how dependent the financial system is on computers. Banking, stock and bond trading, and the vast majority of our day-to-day transactions, rely on computer networks. Many people don’t even use cash anymore. Everything is digital. We even have wholly digital currencies like Bitcoin.
We take these computer systems for granted. In reality, they put us at considerable financial risk. This vulnerability is another reason you should buy gold.
During a recent interview covered in Forbes, Marc Faber talked about the importance of owning physical assets like gold and silver, and holding them outside of the banking system. He said the biggest geopolitical risk isn’t a conventional war. It’s a cyber attack that could take down the power grid.
This post was published at Schiffgold on AUGUST 17, 2017.