I've been rereading a story from last year about the financial crisis in Iceland, and how one man saved himself by seeing what was coming and then transferring most of his assets into gold. (If you've forgotten about what happened to Iceland, you can read about it here.)

This individual didn't buy gold coins, but put his money into an offshore gold bullion ownership account. It's now very easy to do this through services like Bullion vault, and it may be an option if you can't take possession of actual gold in your home, or don't want to trust a bank with it.

Iceland may be an extreme case - it suffered a two-thirds devaluation of its currency in a period of a year and the collapse of its three main banks - but this happened in a modern Western country with a high standard of living. A reminder that it's really up to you to protect your own wealth. In doubt of gold? Not me. And yes, I use Bullion Vault too.

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