Ask Doc Long before the American gold rush, medieval Europe experienced its own gold craze...
From explorers like Marco Polo, Christopher Columbus, and Sir Francis Drake... to monarchs like Elizabeth I of England and John V of Portugal, everyone wanted gold. Gold could fund militaries. Along with silver, gold was a main form of currency. Gold was also used for jewelry, in clothing, and even as an anti-aging drink.
The more gold you had, the more power you held.
In the early 16th century, King Ferdinand of Spain told explorers of the new world, "Get gold. Humanely, if possible, but at all hazards, get gold."
Spanish conquistadors searched Central and South America for the famed city of gold – El Dorado. In 1519, the Spanish landed in Mexico. While they didn't find El Dorado, they did find a civilization rich with gold... the Aztecs.
Gold didn't hold the same importance for Aztecs as it did for Europeans. For the Aztecs, feathers, cotton, and jewels (like jade and turquoise) held more value than gold. They even used cocoa beans as a form of currency. For the Aztecs, gold held less value as currency and more value decoration and religious purposes.
Hernán Cortés, a Spanish conquistador, ransacked the Aztecs for their gold. In 1521, less than two years after the Spanish arrived, the Aztec capital, Tenochtitlan, was destroyed... And the Aztec Empire was over. All for gold.
Today, for most of us, gold doesn't seem to hold much importance. We use other forms of currency to buy and sell. You might be wearing a gold wedding ring or some other gold jewelry right now, but you probably don't have much gold otherwise.
When we think of growing our wealth, we're thinking of cold, hard cash... not gold.
But not everyone is ignoring gold. In fact, the world's elite are covertly draining gold vaults... smelting down bullion to hide their trail... and even deploying paramilitary groups to lock down as much gold as they can.
Their actions have already pushed gold to record-high prices. And we're just getting started...
I recently went on camera to explain exactly what's happening in the gold market today, why its value could skyrocket from here, and how you can get in on the action.
If you haven't watched it already, click here for my video with all the details.
Now, let's dig into the Q&A... As always, keep sending your comments, questions, and topic suggestions to [email protected]. My team and I really do read every e-mail.
Q: Hey Doc, I wanted to write in to add I'm also an asthma sufferer and I do a few more things in addition to what you mentioned. This time of year, I run my vacuum at least twice a week as my dog is bringing who knows what in from outside. I have a Shark with a HEPA filter so it's not much extra work for me and it gets under all the furniture that I'd have to move with an upright vac. I love getting fresh air in my home but I keep my windows closed on days when the pollen is bad. I wash curtains a few times a year and my bed sheets once a week. It helps with the allergens, but who doesn't like fresh clean sheets. (I also wash the dog beds often.)
I've got lots of other tips, but wanted to share the ones that help me most. – G.T.
A: Thanks for your tips, G.T. We know it's a tough time of year for allergy and asthma sufferers. We also have some more tips to share with folks... Check out our issue titled "Don't Let Allergies Ruin Your Spring."
Q: Where should I go to find legitimate gold dealers? What should I be buying – gold bars and coins? – K.B.
A: The trouble with buying physical gold is that you have to find a reputable dealer and figure out where to store it. And you need to decide what type of physical gold to buy. Coins are a good starting point, as you don't have to put up as much capital to buy a few coins versus a gold bar. So it depends on how much you're wanting to buy.
In a brand-new report for my Retirement Millionaire subscribers, "Preparing Yourself for Gold's Final Bull Market," the many topics that my team and I cover include how to safely buy physical gold, the names of a few good dealers, and how to think about storage challenges.
If you're interested in learning about the best ways to add gold to your portfolio, click here.
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Here's to our health, wealth, and a great retirement,
Dr. David Eifrig and the Health & Wealth Bulletin Research Team
April 5, 2024