We are all speculators
“The truth is, gold’s price adjusted for inflation is still 48% below its 1980 high at $875.Today, that price would equal $2,900. In the grand scheme, it still looks cheap. With the tens of trillions of dollars unleashed globally in the Covid-19 pandemic’s wake, gold’s just getting started. Although you might be a speculator without wanting or intending to, that doesn’t mean you have to take huge risks and can’t be intelligent about your allocations.”
USAGOLD note: It escapes most investors – particularly those who avoid economics at all costs – that even savings are a speculation because the currency saved can depreciate in value. That does not make the reality, though, any less real. That is why portfolio balance is so important – as Krauth explains briefly and effectively at the link above.
Repost from 8-7-2020