You may or may not have heard general news reports stating that the US dollar(USD) as the world’s reserve currency is losing its value. This means that if other countries no longer accept the USD as payment for its goods and services, the USD will be considered worthless and will most likely send our economy into a depression similar to that of the Great Depression of 1929.
What are wealthy and/or financially intelligent people doing to protect themselves if another depression hits?
One way of protecting or preserving their wealth is to spend USD’s to buy hard, tangible assets such as precious metals (gold and silver) and real estate. Currently, many wealthy people are buying gold. As of April 15, 2015, the price of gold on the Commodities exchange (COMEX) is $1192.90.
I am fairly certain that many wealthy people have already amassed large quantities of gold way back when the price was much lower. However, keep in mind that due to inflation, the USD is losing its purchasing power. For instance, if you bought 1 gram of 99% pure gold for $100 in 2005, today in 2015 you will need $120 to purchase that same 1 gram of gold.
As I stated previously, the wealthy are protecting their money by buying gold. There are many companies that are selling and trading in gold. However, there is one company that allows the “little people” to purchase gold in increments that are very affordable–Karatbars International(KI). Are you interested in finding out how you can buy gold from KI? Read my review on Karatbars International(KI) below to draw your own conclusion.
Name: Karatbars International
Main Headquarters: Stuttgart, Germany
Price: Varies according to number of grams purchased
Owner/CEO: Harald Seiz
What is a Karatbar?
A Karatbar is a minted 24-karat gold ingot from London Boullion Association Market (LBMA) accredited refineries. LBMA accreditation guarantees production and supply stability. The gold bars being sold are 999.9 percent pure. KI offers its customers the option to purchase gold in 1 g, 2.5 g, and 5 g increments.
Karatbars Mission and Purpose
Karatbars International is an internet trading company that offers ordinary folks like you and I the opportunity to purchase gold bars. The prices are affordable because you can buy the gold in as little as 1 gram increments. In addition, Karatbars offers its customers the ability to purchase gold in form of cards. A variety of cards are offered, such as country cards, collector cards, and special occasion cards. Some of the cards look like the following:
You can either keep these cards for yourself or give them to loved ones as a gift that can serve as a way to help them start building wealth.
Karatbars Business Opportunity Program
For those of you who are looking to build wealth by purchasing gold as well as earn income by referring others to join KI, I want you to know that KI offers an affiliate program where members get rewarded for building a team of people who want to build wealth for themselves and actively get others to do the same.
Here is the video describing Karatbars International compensation program:
Advantages vs Possible Disadvantages
- You are able to convert your dollars to gold–a more valuable and stable currency. The gold you purchase will increase in value over time and is less subject to fluctuations in value than paper currency.
- This opportunity is open to network marketers who live outside the US.
- You can purchase gold in increments that are affordable to most people.
- You can use this opportunity to build your own retirement plan.
- If you follow Karatbars’ business plan, you have the potential to earn great commissions and bonuses that you can use to purchase even more gold. In other words, you can purchase gold without using any of your money!
- The gold you purchase can be converted back to dollars at any time you choose.
- As you purchase gold over time, you have to decide for yourself the best way to store it to prevent possible theft. They give you the choice to either have your gold delivered by FedEx where you are responsible for securing it or you can have it stored in an online storage “cloud”.
- The company is not based in the US; some people may feel uncomfortable dealing with foreign companies.
- The lowest price to purchase gold (it changes daily according to the comex market) may still be out of reach for some people.
- The Karatbars website blog is written in German; there is no link on the page to convert it to English or other languages. I’m not sure if this is an oversight or it is meant for German speaking members only.
Is buying gold in general a good idea?
In my opinion, I would say yes, because as I stated earlier in this post, the dollar is losing it value and becoming more unstable. Therefore, in order to get the most bang for your buck I would seriously consider buying some gold in small increments. I cannot stress enough the importance of first doing your due diligence and more research until you have a full understanding of the whole process before taking any action. I did some research myself and found out that you can set up a self-directed IRA for the purpose of buying gold, similar to self-IRA’s that are set up to purchase real estate. This means that if you have money sitting dormant in a 401k from a previous job in which you are no longer employed, you can move that money over to a self-directed IRA that can be used to purchase gold. Consult your tax accountant for details on how to get started.
Is buying gold from Karatbars International a good idea?
I would say yes because they make it more affordable for average people to buy gold by offering it in 1 gram increments. Although there are several companies that sell gold to the public, I’m not sure if these companies also offer its members the chance to make money as affiliates of Karatbars business opportunity. The business opportunity offered by KI is completely optional; you can just purchase gold and build wealth for yourself if you so choose.
Call To Action
In order to start getting your financial house in order, I suggest you do the following:
- Do your due diligence and research to get a full understanding of the process
- Consult your tax professional or accountant regarding how to get started
- Get started–build your retirement plan by using some of your hard-earned dollars to purchase gold
- Don’t quit
If you have any questions or comments about what you have read in this post, feel free to enter them below, and I will respond. Best of luck to you and much success,