This story was originally published here.
We’re in the midst of a crisis, and I’m not talking about the novel coronavirus pandemic. Cash is under assault, so investors should take care to guard their investment portfolios.
Beyond social distancing and mask-wearing, Covid-19 is forcing people to develop new consumption habits, but the economic medicine governments are doling out is killing cash. Shifting portfolio weight into gold and its associated stocks is an important bulwark against the encroaching threat.
When the word “trillion” comes up so often in fiscal conversation, it’s easy for people to lose perspective on cash value. The Federal Reserve throwing around “trillions” like it’s nothing is certainly cause for alarm; I remember when a “billion” was a fantastic quantity.
To my mind, it’s evident money won’t be able to hold value for long under these conditions. That presents an opportunity for other asset classes to take over. Gold has long been a reliable place to store wealth, and that should only get better. Owning gold stocks is also a viable alternative for this long-term thesis. Bitcoin could serve the same purpose, but that particular asset comes with plenty of detractors.
But you don’t have to take my word for it. Just look at what the central banks are doing to cash. It’s as if they’re racing to see who can devalue money the most by providing endless stimulus here and even more so abroad. Once governments decided their populations needed to quarantine, they committed themselves to spending unprecedented sums of money to restart the economy after shutdowns end.
In the U.S., the Federal Reserve set rates to zero in a emergency meeting for an unlimited time span. And the rest of the world is already at negative rates. The ECB even announced loans at an interest rate of -1%. This is harmful on so many levels, yet leaders have deemed it necessary.
I’m not here to judge or try and offer alternative ways out of the present mess. I’m sure those in decision-making positions have their reasons for the choices they’ve made. But I do want to share a few opportunities to invest in gold and gold stocks to hedge against the topsy-turvy moves being made in financial world.
Of course, the best thing to do would be buying actual gold and stashing it. Alternatively, these three tickers should mimic the portfolio-hedging of an actual gold stash…
Editor's Note: Click here to see the rest of the stocks.
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