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Gold Hedges Against Currency Devaluation and Cost Of Fuel, Food, Beer and Housing
– Gold hedge against currency devaluation – cost of fuel, food, housing
– True inflation figures reflect impact on household spending
– Household items climbed by average 964%
– Pint of beer sees biggest increase in basket of goods – rise of 2464%
– Bread rises 836%, butter by 1023% and fuel (diesel) up by 1375%
– Gold rises 2672% and hold’s its value over 40 years
– Savings eaten away by money creation and negative interest rates
– Further evidence of gold’s role as inflation hedge and safe haven
Editor: Mark O’Byrne
Gold hedges against rising cost of living
Remember when you were taught about the inflation of the Weimar Republic in Germany at school? More recently I was taught about the inflation of Zimbabwe. In both instances we were given examples of how much the staple food of people cost – the humble loaf of bread.
We were all supposed to be horrified and thank our lucky stars we didn’t live in such times. We thanked God that those days were gone and long in the past, never to be seen again.
Obviously we are not unfortunate enough to live in a country where the price of bread changes from us walking into the bakery to paying for the loaf. Nor do we have to carry huge wads of bank notes around in bricks as we saw in Zimbabwe.
Worthless 1 Trillion Zimbabwe Dollar Note (Wikimedia Commons)
But, there has still been a whopping devaluation in the pound, the dollar and all major fiat currencies – as much as of over 90% devaluation in some in the last forty or so years. Food items have increased on average by 964% in the UK.
A form of hyperinflation is has happened globally but just over a much longer time period.
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