The Euro is still weakening against the US dollar. My friend’s parents in Europe, like many other confused investors do not know what to do with all the wealth that they have. Some rush to gold, some race to the US dollar and some other like my friend’s parents are considering to save their money in one of the Asian countries’ currency. But which of all the possible move would be the best to take?

As the debt crisis in Greek is causing its economy to collapse, people are concerned that this collapse will trigger the collapse of the economy both in Portugal and then Spain. Confused investors in Europe who do not understand what to do with their money are flocking to buy more and more US dollars; as if the US currency is not terribly flawed too and the government is terribly indebted as well. People may tell you that as soon as the whole Europe is going into collapse, it will be the end of the world, but as terrible the economy is going to end up there, it will not be the worst or the end of the world yet.

In an interview with Dan Mangru, Jim Rogers advised people to invest their money in sound currencies (which is definitely not the US dollar) or real asset. This is what he said,

“The best place to have your money is in either sound currencies or real assets. For my money, real assets are a better place to be because, throughout history, when governments have started printing a lot of money, the money has gone into real things – whether that’s silver, or cotton, or natural gas – something that’s real that people can use. Putting into paper money at a time when paper money is being debased all over the world is usually not a good thing to do.”

Many, like my friend’s parents, do not think that buying gold is the best thing to do right now. Everybody knows that you buy when it’s low and you sell when it’s high, and gold is at its all time high. However, only a few understand that gold price is highly unlikely to go down again.

According to Mike Maloney, the gold and silver expert, the price of precious metal has been suppressed. The real value of precious metal is in reality much higher than what it is now. He said, “The evidence is in the Commodities Futures Trading Commission reports.” And because the real price is suppressed, at one point, it will explode. Maloney also believes ETFs, like SLV and GLD, do not posses the metals they claim to and are another means of manipulating the price of gold and silver.

“If they had to go out and buy the gold and silver on the open market and replace it, the price would go to the moon. But even if they don’t, if it’s exposed that gold and silver isn’t there, that there’s a whole lot less of gold and silver in the world than people thought there was, that’s also going to make it explode.”

Even though gold price is at its all time high, it is still not too late to buy gold and back your wealth with it.

Below are the separate interviews with Jim Rogers and Mike Maloney.

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