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All this is so far over my head, I felt like I was trying to understand Charlie Brown's teacher! Waa-waa wa-waa-wawa...
May 31 09:09 am
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All Comments by RubyJewel »Is Gold a Good Investment During the Credit Crunch? [View article]
I came here to find out it's good to own gold. I was hoping to find a simple yes or no, along with a justification either way in layman's terms. Can anybody boil this down for me?
I know gold is not something you buy expecting a big return, but is it secure? I'm just looking for places to put money where it will stay safe. I know, I know... I can get that in any savings or checking account in an FDIC insured bank, and I do have that. But what if some catastrophe happens and all the banks go under and even FDIC can't save us? Yeah, I'm talking about the most unlikely, outrageous turn of events here, but I'm just saying... what IF? In a situation like that, would owning gold -- actual coins or bullion -- provide salvation?