Why Invest in Gold in Singapore

You know I used to be a complete social democrat / social liberal (not in the classical sense) / progressive or whatever you'd want to call it. But then I learned about Ron Paul during one of the 2008 US presidential election debates. Now I have learned so much more about libertarianism and the Austrian school of economics.

One of the most important things I learned through Ron Paul is monetary policy. I learned about our current system of money which is fiat currency. I've always thought that money is backed by gold. This isn't really something that is taught to us in school or whatever. But I researched more and more about fiat currency, the Federal Reserve, the gold standard, and of course, the benefits of investing in precious metals like gold. 

Here's one interesting and quite entertaining video of Ron Paul debating a defender of fiat currency:

I chose to post this video because it's light and easy to absorb. Stephen Colbert is liked by many liberals (in the American sense of the term) and that's why maybe it'll help some people rethink their views on monetary policy and political philosophy itself.
So as you can see, Ron Paul totally destroys the defender of fiat with his arguments. If you want to learn more about Ron Paul's position on gold, his book "End the Fed" would be a good starting point. As I write more on this blog (this blog will probably be full of my experiences and speculations when it comes to gold investments), I will be talking more and more about the different arguments against the State monopolized monetary system. 
Well, because by October 1 the Singaporean government has decided to take out the GST (Goods and Services Tax) on gold. People will be able to freely trade physical gold bullion with very minimal restrictions or burdens from the government.
This is a really great move, in my opinion and will really help make people more aware of the value of investing in precious metals like gold and at the same time also expose the truths about the current monetary policy and central banking of the different countries all over the world.
There are many ways you can buy gold in Singapore. You can buy actual physical bullion that you can keep in your possession, as in something you can hold on to. Or perhaps you can decide to get a storage service like a vault of some sort. There are many websites that offer this and I'm sure when the GST is lifted there will be even more establishments that will be offering this.Right now I'm looking for an online service because I would really find that very convenient. Maybe an online dealer that offers delivery service or storage? There are many different advantages and disadvantages of keeping your own gold and getting a storage service but that's probably a topic that I will discuss some other time. For now, I will start looking for where I can buy gold here in Singapore and then I will be blogging here about all my experiences and progress with my investments.
I knew that blogging would be a great way of keeping track of my gold investments. So be sure to follow my blog or drop by again soon to get updated on what's going on with my journey of investing in gold here in Singapore.