Just for fun, let’s take a moment to revisit some of the greatest hits of these doom-and-gloom enthusiasts. Remember Y2K? The fear of a global technology meltdown was everywhere, and many precious metals dealers seized on the opportunity to peddle their products, citing the imminent collapse of the financial system. Spoiler alert: the world didn't end, and the markets marched on.
The list goes on: the Eurozone crisis, Brexit, the US-China trade war, and of course, the pandemic. In each of these cases, these dealers forecast financial catastrophes and urged investors to stock up on gold and silver as a last-minute effort to protect their wealth. Yet time and time again, the world has proven more resilient than they'd have us believe.
No matter what the situation is, strong economy or not, calm geo-political environment or not, the fear mongers will shout about the next crisis and why you should buy from them. Yet, their forecasting track record leaves much to be desired.
Precious metals dealers have a vested interest in promoting their products, and playing on people's fears can be a powerful motivator and marketing ploy. Not at VaultUS Gold! We believe that precious metals can provide long-term benefits and hedge no matter the economic and geo-political climate. We also know that gold and silver are not always a fit for everyone. We prefer to answer questions and use data to provide recommendations, rather than play on fear.