When an economic crisis hits, one can always count on gold to protect one’s wealth.
It’s the most historically proven form of money. Its durability, portability, fungibility, divisibility, and scarcity made it the currency of choice for countless civilizations for many centuries on end.
Sadly, in the 20th century, many governments went firmly down the big government road. From never-ending wars to the welfare state, nations embraced unprecedented forms of government expansion.
Like all government projects, there was no free lunch.
Traditionally, governments financed their largesse through direct taxation…not exactly the most popular course of action.
Raising taxes directly on unruly populations is a surefire way to provoke a tax rebellion.
But when governments have a printing press at their disposal, they can not only finance their massive programs but push that cost off in a hidden manner to present and future generations.
After all inflation — the expansion of the money supply — is the hidden tax to rule them all.
In time, once central banks became the norm in the international political economy, the gold standard would be scrapped altogether.
The gold standard was one of the final restraints on governments’ ability to tax and spend.
Once that constraint was lifted, governments grew like no other.
Despite the destruction of the gold standard by governments during the 20th century, gold remains valuable.
Gold is still one of the most effective hedges against inflation and it’s what many people flock to when their national currencies collapse or when they’re facing any form of economic shock.
As the global economy continues to careen out of control, people will continue to buy gold.
In fact, certain financial experts believe that the incoming economic doom will take gold prices to the moon.
In one of George Gammon’s latest videos, he touches on Wall Street legend Zoltan Pozsar’s hyper bullish prediction for gold prices.
Make sure to check out why gold prices will likely be going through the roof next year right here.
—Team Rebel Capitalist
P.S. Take a look at George Gammon's private, online investment community (Rebel Capitalist Pro) with Chris MacIntosh, Lyn Alden and many other macro experts for just $1!!