With the initial shock of the Brexit over it has become easy for investors to become complacent with their currency as they continue to confidently dump their cash on the market. In the background however, people across Europe and the Americas are still feeling the aftermath unbeknownst to the intentionally ignorant. With both the Brexit and the coming U.S. elections putting citizens and companies alike on edge across both sides of the Atlantic, some families are putting their money on the gold standard.
It’s not surprising to see why, gold is known for it’s value among the precious medals and it boasts some of the best long term economic stability and it seems that in the recent political climate, their value has only risen.
Those seeking to hold onto their savings have been purchasing bullion bars and coins in hopes of holding onto their precious savings. Mark O’Bryne, director of Dublin-based gold dealer Goldcore said that the increased prices has only increased demand as concerned families and individuals of all ages have been rushing for higher ground. “Fears Britain may leave the European Union can be felt in global financial markets as stock markets decline.”
The geopolitical implications extend far past the US and the UK as the refuge crisis continues. With the UK leaving the EU, the EU will be left to deal with the massive influx of immigrants which will soon spread across Europe. With the extensive social care services the EU provides, more currency will have to be printed to provide for services used by their new residents which will lead to a degradation of the value of currency. Much like Germany after World War 1, citizens fear their currency will fall in value to the point of worthlessness. It’s not hard to see how the fall of the Euro will impact the world economy, as their respective countries are forced to revert back to regional currency in hopes of maintaining their worth.
While the global situation may seem tame from the comfort of the sofa, between the refuge crisis, the US political riot, and the UK leaving the EU, it’s become clear the the world is nearing an economic boiling point. The geopolitcs of Europe and America are too unstable for some to risk their families welfare and for those seeking to preserve their livelihood, gold coins are certainly a worthwhile investment.