Politicians don't have a clue

Politicians throughout the world have been plunging their citizens into an economic morass in their naive belief that growth will solve all problems.But, their minhdless hopes have been dashed by a viral pandemic that swept over the world.zzthe depth of the problem has been highlighted by a former Australian Treasurer, Peter Costello who has forecast that this country's total debt could exceed a trillion dollars and is unlikely to ever be repaid. The inflationary monetary policies of the US, Europe, Australia and many other countries mean they are all chugging along on autopilot towards the permanent destruction of their currencies. Inflation and zero interest rates make money worthless. So protecting basic wealth which has often been built over many years presents a challenge. What are the options? Property and gold are two that spring to mind. Real estate always has an intrinsic value even in a declining market, whereas stocks and shares, which gamblers love to buy, are just bits of paper. The Australian Gold Kangaroo coin ‘Gold Nugget’ is one of the Perth Mint’s most successful products. The Kruger Rand and American gold eagles are also safe investments. Gold bullion bars are great for substantial investments. But where to store the gold? There are many places to store gold and other precious metals in your home, with some places more secure than others. Luckily, since physical gold has a high value-to-weight ratio, for most people, storing their gold bars and gold coins won’t take up too much space. You could invest in a safe or secure vault or use a safe deposit box at a bank. Politicians love the ‘smoke and mirrors’ approach with tools of chaos like quantitative easing as well as pushing dodgy invesrtment options such as margin lending and call options, buying and selling index optionsdesigned to limit the downside risk of a diversified. portfolio. Many political leaders are keen on the globalisation of markets, a version of free trade giving comparative advantages and the “economic imperative”.

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