[Russian President] Vladimir Putin has a 6,000-member cyber brigade working night and day to destroy, disrupt and erase digital wealth. So how many billionaires do you say, ‘what do you have, stocks, bonds?’ No you don’t, you have electrons. Putin can wipe those out. The thing about gold, you can’t hack it, you can’t erase it, you can’t delete it. It’s tangible,” Rickards said.
Rickards does not mention silver. However, given silver bullion has similar qualities to gold bullion, a strong case can be made those who buy silver coins and bars, either in their possession or in allocated and segregated secure storage will also be protected from the increasing “digital wealth” risks of today.
The other important point that Rickards makes is that “paper gold is paper gold” and ETFs and futures are paper gold which can be defaulted on and therefore, it is vital you own physical coins and bars.
Read Cyber War Poses Risk of Bail-Ins to Banks and Deposits
Watch Must See Video with Rickards on Bloomberg Here
Gold Prices (LBMA)
8 April: USD 1,235.00, EUR 1,085.18 and GBP 877.33 per ounce
7 April: USD 1,237.50, EUR 1,086.07 and GBP 879.70 per ounce
6 April: USD 1,225.75, EUR 1,079.76 and GBP 868.38 per ounce
5 April: USD 1,231.50, EUR 1,083.59 and GBP 866.32 per ounce
4 April: USD 1,215.00, EUR 1,068.80 and GBP 854.58 per ounce
Silver Prices (LBMA)
8 April: USD 15.16, EUR 13.34 and GBP 10.78 per ounce
7 April: USD 15.22, EUR 13.38 and GBP 10.81 per ounce
6 April: USD 15.07, EUR 13.28 and GBP 10.71 per ounce
5 April: USD 15.19, EUR 13.37 and GBP 10.69 per ounce
4 April: USD 15.58, EUR 13.92 and GBP 10.99 per ounce
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Gold gains on lower dollar after Fed remains cautious on rates (Reuters)
U.K. Industry May Drag on Growth After Unexpected February Drop (Bloomberg)
Why Investors Should Buy Gold – Rickards (Bloomberg)
Why Swiss Bank Is Buying Gold (Zero Hedge)
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