The crisis currency.
Why Gold? Paper assets and fiat currency can lose their value from one moment to the next. Financial markets can abruptly stop operation. Banks can close their doors for weeks, or go out of business entirely. The cash held in banks is exposed to creditor obligations, or bail-in provisions. Physically allocated gold, safely stored, is not exposed to these risks, even during a crisis scenario.
10 Arguments for Gold
'Gold and economic freedom are inseparable. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. Gold stands as the protector of property rights. If one grasps this, one has no difficulty in understanding the statist's antagonism toward the gold standard.'
- Dr. Alan Greenspan