Brandon Kirby
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General Information
Locality: Fredericton, New Brunswick
Phone: +1 506-440-1913
Website: www.libertyatlantic.net/
Likes: 62
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The historians are saying now is a great time to buy. Not a recommendation but it's worth considering: https://www.bnnbloomberg.ca/bay-street-to-young-investors-g
In the light of the Fed's $1 trillion/day in quantitative easing, gold and other commodities are hard to ignore and wise investments. The recent sharp decline in the precious metal makes it an opportune time to buy. Quantitative easing (QE) is a process of injecting cash into the monetary system. As the currency becomes due to increased supply, the $USD/gold ratio increases, artificially increasing the value of gold. Since the Fed began QE1, $USD/gold has jumped in value from $750/ounce to over $1650/ounce prior to the COVID-19 outbreak. With gold trading at a one year low, now is the perfect time to buy in.
Some are worried about their retirement savings and thinking of selling their portfolio. My advice is to look at the fundamentals. If you bought a house for $200,000, and I came along and offered to buy it for $100,000, would you sell it just because people are offering less for it? Don't sell! Hold onto the assets you bought, and let them produce for you going forward.
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