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In an environment where money is created out of thin air, how can gold play a particularly critical role in protecting investors?

Bob Wiedemer

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Video Transcript

Bob Wiedemer: Traditionally, in a scenario where it's very easy to print money, we can do it electronically, we don't even have to do it with a printing press, or we don't have to reduce the amount of gold in a one dollar coin or something, the role of precious metals has been tremendous in backing the value of currencies.

People, traditionally, I think will look at that, not just in the U.S., but mostly... heavily around the world. In places like India where they recently had a currency crisis, because literally some of the cash there was declared illegal. People like gold and you can see why if your big bills, their 500 and 1,000 rupee notes were declared illegal, you'd understand why you'd like gold. In those situations and around the world--there, China, Middle East, Europe--the traditional role of precious metals is to be a safe haven when it's so easy to devalue the normal currency, the paper currency.