How I became a 24-carat goldbug

If you’re at all worried about the current global financial situation, here’s what I advise: buy gold. Then buy some more gold. Then buy some gold coins to stash under your bed and in various hiding places known only to yourself. Sovereigns are good if you’re British because, being legal tender, they are not subject to capital gains tax. Oh, and if you’re investing in bullion — which you must — make sure it’s in a spread of locations: London, Hong Kong, ­Geneva, wherever. That’s because when the shit hits the fan (WTSHTF as we catastrophists fondly abbreviate it), no one has any idea which regimes will be safe and which will be punitively confiscatory as, for example, was dear old F.D. Roosevelt’s when he suddenly took it upon himself to ‘cure’ America’s economic crisis by banning private ownership of gold.

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