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Why you must own gold in one word: INSURANCE

It’s normally a pretty chilly day in hell when we find ourselves agreeing with TV sometime-economic-pundit Cramer, but in this case we’ll make an exception. Despite gold’s crushing so far this year Cramer lays out why people should own gold in the first place:

“I still like gold coins, i think people should be in those, this coming down and maybe goes to $800, i don’t know. But gold coins are integral.”

Interestingly Cramer says that he doesn’t trust GLD (paper gold ETF) anymore:

“i’ve shifted from GLD, which i don’t trust anymore… your gold dealer would tell you not to trust it”

Today must be a particularly cool day in hell because then Cramer nails exactly why you should own gold… Insurance:

Gold bullion, gold coins, i want to use that decline to get in for people who don’t own any gold, why, because i like it as insurance, and i’m willing to insure 4/5ths of my portfolio with 1/5ths. People say “but Jim the trading move in vicious”, look. i’m talking about insurance…. i really like the gold coins and i would like to diversify right now and buy more gold coins.

Full vid bellow:

 

Link to this article: : http://www.goldmadesimplenews.com/interviews/why-you-must-own-gold-in-one-word-insurance-11072/

Posted by on Jun 28 2013. Filed under Interviews. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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