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In the world of Christian apologetics, there’s an argument known as Pascal’s Wager. 17th century French philosopher Blaise Pascal essentially argued that if God exists then we should believe in Him to save our souls and if He doesn’t exist then there’s no afterlife anyway, so it behooves rational people to live their lives believing in God.
That’s a rough way of putting it, but the argument is sound. We can make a similar argument about the possibility of Central Bank Digital Currencies taking over western (and possibly worldwide) economies in the near future.
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Some say they cannot happen. Others are certain they’re right around the corner. Most are in between, believing that the groundwork is already in place for centralized digital currencies like a “Digital Dollar.” Now, we’re just waiting on the logistics and the predicate.
Wherever one lands in the financial fortune-telling spectrum, owning physical precious metals makes massive amounts of sense, perhaps more now than ever in modern history. That should not be construed as financial advice. It’s an editorial opinion, and one that’s very easy to demonstrate.
The central banks themselves and many nations have already quietly shown they’re “betting” on CBDCs in the near future because they’re buying up as much physical gold and silver as possible. They aren’t just reading the writing on the wall. In many ways, they’re the ones doing the writing as it pertains to the world’s fiscal future.
If a “Digital Dollar” joins the dozens of other CBDCs already being tested, then physical gold and silver will be the most likely price beneficiaries to not only rise, but to be the physical manifestation defending the CBDCs. That’s not to say CDBCs will be backed by gold, but that’s not off the table, either.
If a “Digital Dollar” never happens or if it takes years to get here, then owning physical precious metals still makes sense. Even BlackRock, which has been driving the ESG investment push, has finally recommended to its own investors last year to get their money into “unwoke” gold and silver.
Between the ebb and flow of inflation, woke ESG investments eating up retirement accounts, ongoing banking collapses, and governments targeting crypto companies, gold and silver seem poised to continue as the “smart money” to hedge against economic turbulence ahead.
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Physical gold and silver have been considered to be decent and sometimes even strong investment options for some time. With the specter of Central Bank Digital Currencies haunting us, physical precious metals make more sense than ever.
