The Number One Reason You Should Own Physical Gold

105 years ago, American financier J.P. Morgan testified before Congress. When asked if the control of credit involved a control of money, Morgan responded by saying, “Not always. [Credit] is an evidence of banking, but [credit] is not the money itself. Money is gold, and nothing else.” Although they are not the same, “money” and “credit” are used interchangeably in our vocabulary today. Given the massive credit expansion over the past four decades, understanding the difference between the two has never been more important.

First published here: The Number One Reason You Should Own Physical Gold