In recent days, gold has again hit new price records of $ 1,670 an ounce, while silver is trading between $ 40 and $ 42 an ounce in hopes of repeating its $ 50 record this year.
Russian and Chinese politicians have expressed their clear displeasure with the US intention to continue accumulating its debt. Other countries did not trust the words and began to act on their own. This could be seen especially clearly in Asia, where the central banks of these countries recently bought several tons of gold for their gold and foreign exchange reserves. And in Vietnam, export duties have been imposed on the country’s gold exports to prevent capital outflows.
Gold is the perfect opposite of debt and debt problems. Gold is independent money. It is self-sufficient and does not need anyone to guarantee and assign its value. The market determines the value of gold. It was the market that once won gold with the best money in the world. Physical gold has no partner risk. When the debt bar gets bigger and leads to a hidden or explicit defect, then anyone understands the best qualities of gold, which at this time become even more evident.
The problem of any debt is always solved, not of course, of course, but the truth is that it is possible. The first step in reducing growing debt must be a balanced national budget. However, politicians, unfortunately, rarely show political will and try to avoid unpopular cost-cutting measures, especially before elections.