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Gold = Economic Freedom

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Published on Sep 11, 2012

Federal Reserve Chairman Ben Bernanke says gold is not money. Berkshire Hathaway's Charlie Munger claims it's only for pre-holocaust Jews and that civilized people don't buy it. The oracle of Omaha Warren Buffet scorned it as an unproductive asset and says he'll never invest in it. Financial advisers rarely, if ever, recommend it for personal retirement portfolios and many people will argue that it's not a worthy personal reserve because you can't eat it.

For all intents and purposes, some of the most influential investors, monetary officials and financial pundits in the world completely deny gold's value as a unit of monetary exchange and crisis reserve.

As worthless as it is, however, tens of billions of dollars have recently been shifting into this archaic asset of long forgotten empires.

In the last seven months alone the People's Republic of China has added more gold to their reserves -- over 500 tons -- than the entire holdings of the European Central Bank. They aren't alone.

Russia's President Vladimir Putin has been aggresively investing into the precious metal over the last five years -- spending some $500 million monthly as he diversifies his country's assets out of Dollars and Euros. Currently, 9% of Russia's reserves are held in gold.

This, of course, begs the question: why?

According to the World Gold Council, Russia has more than doubled its gold reserves in the past five years. Putin has taken advantage of the financial crisis to build the world's fifth-biggest gold pile in a handful of years, and is buying about half a billion dollars' worth every month.

No one else in the world plays global power politics as ruthlessly as Russia's chilling strongman...

Putin's moves may matter to your finances, because there are two ways to look at gold.

On the one hand, it's an investment that by most modern standards seems to make no sense. It generates no cash flow and serves no practical purpose. Warren Buffett has pointed out that we dig it out of one hole in the ground only to stick it in another, and anyone watching this from Mars would be very confused.
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