The biggest message coming from the G20 summit is ‘buy gold coins.’

November 15, 2010 – The biggest message coming from the G20 summit is ‘buy gold coins.’ Of course that was not specifically stated, but the implications of the committee’s total lack of action are clear.

Maybe it is a Korean thing. For those who remember the Korean War the G20 summit was reminiscent of the peace talks, which were bogged down for ages over such issues as the shape of the table. Although the meeting put off even defining the problems until next year we can find comfort in what the G20 did accomplish. As quoted in the Wall Street Journal, Canadian Prime Minister Stephen Harper boasts that they “got everyone talking the same language, everyone understanding longer-term what has to be done."

Meanwhile, Europe’s sovereign debt crisis has reached critical mass and emerging economies are drowning in foreign capital and facing runaway inflation. Although the G20 failed to address global imbalances in any meaningful way, there was no shortage of rhetoric on the subject.

The US led the charge against the covert trade subsidies China has created through artificial currency adjustments. China fired back that the Fed’s monetary policy is destabilizing emerging economies with speculative capital, a message that resonated well among Asian nations. Amid the accusations and debates over definitions, the representatives failed to agree on the causes of global imbalances or even how significantly currencies contribute to the problem.

Thankfully, we do not have to wait for the world’s governments to wake up and get seriously to work on solving the economic crisis. While global currencies wallow in chaos, gold remains the monetary reference of choice among global financial experts. We need only invest in gold coins to protect ourselves from the chaos.

Kevin Johnson

Senior Staff Writer – GoldCoin.net