Especially in the face of cyberterrorism.
In a recent interview with Metal Masters, Faber noted that the biggest geopolitical risk for Americans today is not a conventional war, but rather cyberattacks that could take down the entire U.S. power grid.
If that were to happen, noted Faber, gold would become an "irreplaceable medium of exchange."
"It's good to have a diversified asset outside of the banking system and not financially related," said Faber. That way, if cyber hackers did go after the power grid – or the stock market – you would have investments not tied to either of them, according to Faber.
But cyberattack threats are not the only reason you should have some gold in your portfolio now. In fact, Money Morning Resource Specialist Peter Krauth is watching a gold price catalyst that makes the precious metal a valuable asset even without the risk of a cyberattack…
Gold Prices Are Set to Rise in September Thanks to Congress
On Sept. 29, a U.S. government deadline could be responsible for the next gold price rally in 2017. That is, if members of Congress don't agree on one important issue: the debt ceiling.
The debt ceiling limits how much debt the federal government can carry at any given time. Right now, the current debt level of $19.9 trillion is just a hair away from the $20.1 trillion ceiling.
Unless Congress agrees to raise the ceiling by the deadline, the government will essentially run out of money and will no longer be able to cover its expenses...
- Source, Money Morning, Read the Full Article Here
