by Marvin Dumont
Gold has performed well in the past five years with less risk compared to volatile cryptocurrencies and stocks, as well as devaluing fiat cash. In 2015, gold’s price was $1,150. The shiny yellow metal has risen to currently $1,775 per ounce. That represents 53% growth in value.
There are many factors why investors are turning to gold. The two main reasons are (1) the pandemic crisis which is spreading fear worldwide and (2) central banks’ practice of extreme quantitative easing in response to the global crisis. That includes the U.S. Federal Reserve, European Central Bank and Bank of Japan all printing unbacked paper instruments. But the practice of QE extends globally as other central banks respond to the pandemic. Since many governments are running out of money, they turn on the printing machine.
Apollo Fintech has recently launched the Gold Secured Currency (GSX) at http://gsxcde.com which is the world’s first growth coin that increases in value. It combines elements of an asset-backed growth coin, cryptocurrency and investment coin. The CDE site accepts PayPal and Swift bank transfers if you’d like to purchase GSX.
Quantitative easing may yield short-term benefits such as higher short-term employment, but there will be exacerbated long-term negative impact that includes high inflation and diminished purchasing power. Warren Buffett recently said so himself.
This year alone, the Fed has printed more than $6 trillion fiat dollars in order to stimulate the U.S. economy. And it will print trillions more in the future.
People use fiat because governments force them to via legal tender laws. It’s a criminal act for a merchant to reject a customer who wishes to pay in (Fed-printed) dollars. But with free enterprise, millions of consumers would rather store their wealth in gold, Bitcoin, silver and other zero- or low-inflation instruments.
Unlike the dollar, yen and most other fiat cash, gold is anti-inflationary: Only 30–50 tons are mined each year. Therefore, it’s prudent to include this “metal of the gods” to withstand current and future crises.
Apollo Fintech is developing world-shaping fintech solutions for a global economy. Its product categories include Government Solutions, Commercial Products and Consumer Products. Apollo Fintech’s new platforms and tools include National Currency System, Tax System, Commodity Exchange, Mineral Claims System, Government Bank Platform, White Label Payment System, Bank Network, Knox Exchange, DEX, Apollo Cash and Apollo Currency.
Learn more at aplfintech.com.