Is Precious Metals Investing Dead?

With the Biden Administration pushing for digital currency, there’s been lots of ads to protect your money by buying gold. Even though I’m into gold detecting and gold investing, I think one must have to be a little skeptical of these ads to buy gold to preserve your wealth.

Now, I’m certainly not for digital currency because there will be absolutely no privacy, and the government will know everything that you’re doing, and probably more importantly, would be able to restrict you, or limit you in what you can buy at any particular time.

Is Precious Metals Investing Dead?

Is Precious Metals Investing Dead? - Uganda gold

Reading up on the push to go digital in the United States, unfortunately, it seems like it is a done deal and it’s just a matter of time! But when the US does go full digital, what’s going to happen to gold? Now that’s really the 64,000 question and I don’t believe anybody can really definitively answer it.

With that said, all the ads to buy gold in the face of the coming digital currency may be somewhat misleading. It seems to me, that when the US does go full digital it would not want any other competing monetary methods of exchange that could somehow get around their system. So what would happen to the goal that you currently own? What about gold that you want to buy for your future Investments?

As I said before, it’s all speculation what may happen but, I won’t be surprised if the government puts a large excise tax on all precious metals!

Keep in mind when everything is digital, the government will know who is buying and who is selling what, and in what quantities and amounts. It would be very simple and I’m sure the government is going to do this, to tax services or products that the government doesn’t want to see people purchasing. Sure gold will still be around but it may be restricted just to manufacturers of jewelry and various electronic components.

I do think there’s a distinct possibility that investing in all precious metals might come to an abrupt end once the US goes full digital! Naturally, this is just my skeptical, or perhaps realistic view on what a future digital currency economy in the United States may entail, what do you think?