Time To Buy More Gold

I keep seeing headlines such as this one: IMF Chief Warns Dollar May Suffer “Abrupt Fall” telling us all that, “The dollar may still have further to fall, and the effects would not be good for the global economy”.

Then there is the daily list of stories in my newsreader from precious metal gurus like James Turk of GoldMoney.com, forecasting that, “…we can expect US$800 gold by the end of the year, and a four-digit number next year.” What does it all mean?

The true meaning of this supersized USD/Gold combo is….Time to buy more gold.

Its great to see more and more web sites emerging which promote the active use of gold in daily commerce. There are two schools of thought for the average investor regarding gold investments. Anyone can own gold by purchasing coins or bullion locally from a merchant or trading association. Secondly, anyone can spend their national currency and buy grams or Troy ounces of digital gold currency. If purchasing digital gold, the online company will hold your precious metal locked away in one of their insured vaults. Your funds transfer when making the purchase but you only see the balance of your online account rise. Digital gold is a book entry style of gold ownership. This method of gold ownership is safe, modern, convenient and best of all cost efficient.

Both digital and physical bullion, are great ways to hedge against the falling US dollar and and possible inflation.

For coin and bullion buyers you can find many local groups and associations for making a thrifty gold purchase. Other ways to explore a purchase include, Yahoo which offers discussion groups for gold and silver trading, GoldSeek suggests some great ways to buy locally, Kitco has awesome forums on Gold, Silver, precious metals and even economics, Rayservers offers a top notch email discussion group called Gold-Silver-Crypto, Bill Murphy Chairman of the Gold Anti-Trust Action Committee [GATA] hosts the Metropole Cafe which is the center of the universe for many gold investors, the Freemarket Gold and Money Report is excellent and last but certainly not least you will have to read the Indomitus Report from Jim Davidson who is yet another digital money guru. Jim is a consultant for Vertoro and I’ve got a great interview with him in DigitalMoneyWorld coming up next week.

Where can you buy digital precious metals online? Today’s Internet offers lots of convenient and inexpensive [thrifty] options. For buying digital gold I love Goldmoney.com, Bullionvault.com, Webmoney Gold, e-Bullion.com, Crowne-Gold.com, Pecunix.com, C-gold.com and e-dinar.com. Another favorite of mine for all you silver lovers is PhoenixDollar.com where you can buy either digital silver or bullion and switch back and forth between them! (I love their 10 oz bars)

Christmas is coming….gold and silver coins make great gifts.

Some of these digital gold currencies make it possible to use digital gold in everyday commerce. Pay for your web hosting, hire a freelancer or even buy coffee online using digital gold. There is a new web site that has just emerged, www.escapevelocitypub.com and their objective is to work towards bridging the gap between the regular e-commerce and digital gold commerce. William Maderas just created the EscapeVelocityPub with freedom in mind and hopes to share the global utility of digital gold with visitors. I highly recommend you drop on by for a visit.

No matter whether you are a local buyer and hoard gold Krugerrands next to those jars of old peach preserves or whether you have several global digital gold accounts, if you are keeping a close watch on the global economy….now is the time to buy more gold. Just in case you are wondering how much I have in reserves…here’s a photo of my sub-basement.