Buy Gold Because of Uncertainty not Doomsday
The Doomsday Clock was moved forward last week by 30 seconds, to two-and-a-half minutes to midnight. This is the closest the clock has come to 12 a.m. since 1953.
This comes as scientists believe that in 2016, “the global security landscape darkened as the international community failed to come effectively to grips with humanity’s most pressing existential threats, nuclear weapons and climate change.”
The statement acknowledges that the lack of action on climate change is concerning. It is also concerned about technology and the problems in some fields of technological innovation that may be a threat to humanity. In 1947 there was one technology with the potential to destroy the planet (nuclear power), but now there are many.
It is the US presidential election and comments from President Trump that appear to have forced the issue of moving the clock forward. There is a rise in strident nationalism that contributed to the US election result, and Trump’s comments on nuclear weapons and climate change.
O’Byrne discusses scientists vs. Trump; the absence of facts and moral narcissism; uncertainty vs. scientific or political doom mongers; and buying gold in the face of uncertainty.
“Investors should ignore the moral narcissism of the elites, the politicians and the scientists, and instead prepare for uncertain times by diversifying and owning gold and silver. In recent years and throughout the ages, both precious metals have protected investors and savers from uncertainty, both economic and political.”