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Why Gold? Why Now?: The War Against Your Wealth and How to Win It

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Investment industry veteran E.B. Tucker shows readers the gold market from the inside.This 3-part book breaks gold down into must know sections. 1. Why Gold? – History reveals an ugly pattern of governments spending tomorrow’s hard-earned savings today leaving unknowing savers holding the bag. 2. Why Now? – Recent events foretell a dangerous future for money today. 3. A Gold Market “How To” Manual – From bars to coins and everything in between Tucker walks readers through the gold market in simple terms. There’s a reason why the world’s elite count gold as a core asset. During periods of financial turmoil, it’s invaluable. Gold is the only asset that's not someone else's liability. Apartments rely on paying tenants, stocks rely on company profits, bonds rely on stable interest payments. Gold doesn't rely on anyone or anything for its value. Tucker guides investors in simple terms through the ways to own gold, from physical bars, to coins, and even mining stocks. He reveals his favorite method, gold royalty companies. From a financial novice to an investment professional looking to get up to speed on the gold market, Why Gold? Why Now? is the essential guide to the world of gold.

236 pages, Hardcover

Published September 28, 2021

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374 people want to read

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E.B. Tucker

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Displaying 1 - 30 of 46 reviews
Profile Image for Jay Pruitt.
222 reviews19 followers
July 5, 2020
For those interested in or at least considering gold as an investment, this book gives a fairly good overview (without drifting into hyperbole sometimes espoused by "gold bugs") of why one should hold an allocation of this precious metal. It is NOT a book which addresses "how" to buy gold, although it lightly touches on the ways in which gold may be purchased (bullion, coin, ETF).

Much of the book covers the devaluation of our currency, how the Treasury's over-reliance on debt will snowball this trend, why risks of further govt actions (negative rates, bail-ins, MMT, etc) are precursors to wealth confiscation, and how gold provides "wealth insurance." Other books (particularly now, in the midst of the Fed's "QE-infinity") cover these topics, but Why Gold? Why Now? brings it all together nicely.

What I liked was the brief discussion regarding cryptocurrency. Seldom has this been explained in a manner non-techies such as myself can follow. This book does a good job explaining how we got here with the advent of Bitcoin, and how the govt will use this technology to create their own digital currency to replace cash and give central control to Big Brother (easily traced, taxable, controllable).

This is a good book for someone wanting to learn more about the big picture and about why one should devote more time and resources to learning about gold as an investment, but without getting too buried in the minutiae.
4 reviews
March 6, 2021
This book has a nice walk through of history of money devaluation and how gold persists value. It also helped me discovered many gold investment options that I never know about.
Profile Image for Diego Lucero.
71 reviews7 followers
March 10, 2025
Following World War II, the 1944 Bretton Woods meeting cemented the US as the world’s financial anchor. The US dollar became the denominator of world trade, pegged to gold at a fixed exchange rate of $35 per ounce. This arrangement allowed other countries to rebuild their economies with stability and certainty. When the agreement was put into place, dollars had gold-like power. At the time, the US held around 60% of the world’s official gold reserves—more than 22,000 metric tons.

However, as the US government began overspending, some foreign institutions that had accumulated large amounts of dollars returned them to the US government’s gold exchange window, exchanging $35 for an ounce of gold. Slowly, the country’s massive gold reserves dwindled.

Silver supplies also declined. Until 1964, the US used silver to mint its coins. Just like the Romans, they eventually had to stop. US dollar coins, half dollars, quarters, and dimes contained 90% silver until 1964. By that year, the value of silver in US coins exceeded the coins’ face value. The Coinage Act of 1965 ended this practice. It removed silver from dimes and quarters, reduced the silver content in half dollars to 40%, and five years later eliminated it entirely. Most Americans were unaware of the declining silver supply, and those who did know largely didn’t care.

As gold outflows accelerated, the US had no choice but to end the dollar’s convertibility to gold.

In 1971, President Richard Nixon officially devalued the purchasing power of every American’s savings. He masterfully disguised this well-orchestrated devaluation from the average citizen. Nixon ended the ability of foreign banks to exchange dollars for US gold, a privilege they had previously enjoyed at the rate of $35 per ounce.

By the time Nixon took the dollar off the gold standard, US gold reserves had shrunk by 63% compared to 26 years earlier.

US leaders knew that once the dollar was no longer convertible to gold, its true value would be revealed.

To sell this devaluation to the public, Nixon framed his speech as “The Challenge of Peace.” He invoked returning Vietnam War soldiers who struggled to find jobs—a calculated distraction.

He also addressed inflation, citing a Consumer Price Index (CPI) rise of 6% per year for five years. He positioned himself as a hero while blaming international currency speculators for the dollar’s woes. In reality, the US had abused its monetary dominance by running persistent budget deficits.

As a result, the value of the dollar fell for months against foreign currencies.

Nixon claimed that “evil speculators” were relentlessly attacking the dollar. However, once the dollar’s gold peg was officially removed, its value dropped sharply against other currencies.

Meanwhile, from 1970 to 1971, gold prices surged by 1,300%.

Gold has a unique value: it is immune to the devaluation tactics that plague government-issued money. Gold can sit at the bottom of the ocean for millennia; once retrieved and dried, every molecule remains intact. Physically, gold has integrity. It retains its mass even in a house fire—while its shape may change, its weight does not. The only real risks to gold ownership are theft and government confiscation.

To support the weakening dollar, Nixon launched a diplomatic mission to China, seeking a massive manufacturing hub to produce cheap goods in exchange for a devalued US currency in the years to come. China accepted the arrangement.

Gold ownership became legal again in 1974.

When Nixon removed the gold peg in 1971, gold was priced at $35 per ounce. By the time it became legal to own, it had soared to $183 per ounce. Anticipation of legalization sent gold prices skyrocketing, a common occurrence in markets that had been restricted for decades. Most Americans didn’t understand gold at the time, but by the end of the 1970s, its value became evident.

However, gold investors soon faced a test. After becoming legal in 1974, gold prices plunged by 44% through August 1976.

Many questioned their investment decisions, but those who held on saw gold rally by 721% over the next three years.

Just as in 1971, another major financial revaluation looms on the horizon. Investors who anticipate it ahead of official announcements stand to make substantial profits and, more importantly, preserve their wealth.

For investors tied to the government monetary system, the main risk isn’t bankruptcy (as governments like the US can always borrow to fund budget deficits) but inevitable currency devaluation. A single dollar today has less than 1/30th of the purchasing power it held in 1900. The long-term trend for government-issued money is clear: its value erodes over time.

Gold, on the other hand, has consistently preserved both wealth and purchasing power while also appreciating in value.

Why Now?
Gold is money. It protects wealth like no other asset and remains liquid even in economic downturns.

Governments have a long history of devaluing their own currencies. Politicians can’t resist spending tomorrow’s money today. Over thousands of years, the story has remained the same: a little more borrowing always seems justified.

A financial reset won’t come with an advance warning. It will happen suddenly, when people least expect it.

On average, the US government collects between 16% and 18% of GDP in total tax revenue. It finances its debt by issuing bonds, bills, and notes. These obligations are never repaid in full—when they mature, the government simply refinances them with new debt.

To remain solvent, the US must suppress interest rates. In a free market, interest rates—the price of money—are determined by supply and demand. But the US government does everything it can to keep rates artificially low.

Instead of normal recessions, the US economy now experiences unusually long booms interrupted by crises.

Recessions used to be a necessary and normal part of capitalism, thinning out inefficient businesses.

Today, crises are part of a planned system that eliminates some players while rescuing others.

Without periodic recessions, economic bubbles expand unchecked.

The last real recession was in 2002. For the first time, the Federal Reserve intervened aggressively, slashing interest rates from 6.5% to 1%. This artificially cheap money was meant to jumpstart lending and consumer spending. It worked—but at a cost.

Extremely low interest rates reward bad behavior. Unprofitable businesses receive lifelines. The 2008 financial crisis was a direct consequence of reckless lending fueled by the Fed’s policies.

Each crisis brings more extreme intervention, further distorting the system.

At some point, the final bubble will be so large that it triggers a financial reset. Overnight, the value of everything will be redefined under a new monetary system.

Potential Government Actions
Governments may resort to drastic measures, similar to the 2012 Cypriot financial crisis. If investors lose confidence in US debt, the government could forcibly convert large bank deposits (above insured limits) into Treasury bonds—even ones with negative yields.

Before resorting to such extreme measures, the government has other options. Initially, each intervention will seem unprecedented; later, it will be normalized.

For example, the US government has already purchased nearly $7 trillion in mortgage-backed securities and Treasury debt. It has even begun buying junk bonds, something previously unimaginable. The Swiss National Bank and the Bank of Japan have already ventured into stock purchases.

Fifty years ago, no one imagined the Federal Reserve would own $7 trillion in debt to maintain 0% interest rates. Five years ago, few thought the Fed would buy junk bonds. Given the pattern of increasingly extreme interventions, a future financial system "bail-in"—where bank deposits are effectively seized—may not be out of the question.

There appears to be no limit to what central bankers will do to maintain control, including creating trillions of dollars out of thin air and choosing which firms receive bailouts.

The Rise of Digital Currency
Governments dislike cash because it is anonymous. They have systematically reduced its use. A government-controlled digital currency (e.g., Fedcoin) would allow authorities to monitor and control every transaction.

Gold’s Timeless Value
Gold’s purity is measured in karats, a term derived from the word “carob.” Carob seeds were once used by Mediterranean traders to verify the weight of gold coins.

Gold trades in troy ounces, which are about 10% heavier than standard ounces.

Gold is among the densest metals on Earth, weighing over 19 times as much as water.
621 reviews4 followers
April 2, 2021
Why Gold? Why Now? is timely since it was published a few months ago in 2020. It is a quick review of recent US monetary history beginning in the early 19th Century, a prediction regarding money based on previous economies, and advice on why and how to use gold to protect one’s wealth. The subtitle is “The War Against Your Wealth and How to Win It.” E. B. Tucker’s short answer is that you should get some gold.

Tucker’s writing style is what I would call conversational. It is easy reading. He has a few charts that are helpful. It is not a technical book. The history is straightforward, and his comments on what went on and who benefited are pretty spot on. He has done well in the gold arena but recognizes it is cyclical, so his advice is to hold some as a store of wealth but be prepared to sell some when the time comes to move wealth to some other area such as stocks or land.

At the end of the book he describes what type of gold to buy and what to avoid. He admits to being a bit of a coin collector but says most folks should avoid the rarities. Mining stocks are way too risky, and the odds are against the average guy, but he likes the big miners like Barrick and Kinross. He covers ETF’s, and his advice to not hold any that are paper only, and he adds that it is just better to have physical control yourself rather than having it at some brokerage. He says each person should establish a percentage of their net worth they would be comfortable with having in gold and then acquire it. He likes gold far more than silver; silver is too speculative for him.

Tucker also mentions two indicators that are helpful. One is the Dow/gold ratio; how many ounces of gold would it take to buy the Dow Jones average. Twenty years ago gold was just under $300 an ounce while the Dow was at 11,000. Do the math; it would take about 36 ounces of gold to buy the Dow at that time. A high number means gold is cheap. The other ratio is the gold/silver ration; how many ounces of silver would one ounce of gold buy. As I write the ratio is 69 to 1; the 20 year average is 65 to 1. In March of 2020 the ratio hit 125; that meant silver was extremely cheap and a good time to buy it.

It is apparent that Mr. Tucker does not trust the government and the banks to work in your best interests. Gold is outside of their immediate control, so his advice is to preserve your hard earned assets by storing some of your wealth in gold.
Profile Image for Sherry.
33 reviews8 followers
September 5, 2021
A good introductory book/guidance to the GOLD world, especially for novice investor. The book follows a WHY-WHEN-HOW order. Easy read, and not many technical terms thre. Could be a good bedside book if you want to add investment related read to your night routine without overstretching your brain.

It starts from the gold market history in the 20th century. What make Gold an insurance or a wealth protector are exactly what make it one of government's top enemies. Gold is a physical asset with intrinsc value, its extraction is low and its supply tends to be limited. In a perfect gold standard soceity, there is no such thing as monetary inflation because the government can only issue such amount of currency that are 100% backed by gold. But at the same time, limited currency puts a cap on the volume and velocity of the exchange of currency, dragging down the transaction flow. This could probably result in deflation, where $1 today worths more than it was yesterday. The WHY leads to WHEN because Gold has been there for thousands of years and there must be a reason that makes it a special asset now.

MMT and Irrational Exuberance may well summarize the policy of our modern central babnks. We won't be able to preserve the purchasing power of our hard-earnd money by holding government-issued currency. And during times of market turmoil, stocks, real estate, and even bond are going in the same direction to hell. Gold is the safe heaven.

Then comes what we are keen to know, how, then should we go about Gold Investment. Just like stocks and bonds, there are gold ETFs and mutual funds that manage paper of physical gold. There are also public companies that do gold extraction and owns gold royalties. Aside from those standardized investment methods, we can also buy GOLD coins. E.B Tucker gives us simple and yet practical tips on how to start and where to look for more opportunities.
606 reviews12 followers
June 24, 2025
This is worth reading, even for those of us who have no wealth to protect. It shows a lot about how the one percent controls the economy and the value of the dollar. His thesis is that spending borrowed money is like a crack addiction for governments. They are addicted and (barring some major intervention) , they will keep doing it, over and over. So we are in this cycle of bubbles fueled by easy money and over supply, leading to crash over and over.

In some ways it is very scary. He predicts a world of devalued dollar, where US is no longer the dominant world currency and what that will mean. Money in the bank will disappear. Even real assets, like owning rental properties, will become worthless (what good does owning rentals do, if no one can afford rentals?).

(more later)

Scariest is Bitcoin


Don't agree with all including universal basic income.


Profile Image for Carl.
9 reviews1 follower
July 11, 2020
Gold’s True Value

Expert advice from an author I have followed for some time, beginning for me when he was a fund manager with Casey Research. If you are interested in wealth preservation and investing in a currently exciting sector of the market, I highly recommend this book. I do have a potential bias: I am an investor in Metalla Royalty & Streaming but did not realize the author was one of the directors of the company until I decided to purchase his book.
Profile Image for Will Llawerch.
4 reviews
December 5, 2020
EB Tucker makes a great case for where Gold is heading due to the unparalleled printing and as a result loss of confidence in all currencies especially the US. Dollar. If you are unfamiliar with the Author, this book with give you a fantastic overview of why we are in the financial situation we are in and what's coming. Thus, why, if you can afford gold, you should be buying as much as you can now.
Are his usually spot on predictions going to continue to bear fruit?
66 reviews
November 20, 2021
This is a really good book for entry level gold investors. It gives a fascinating history of gold's use as money. It also suggests how to buy gold. There was one thing that was off-putting to me. He recommends buying stock in a gold royalty company that he sits on the board of. I looked at the stock and it loses money. However, I never knew about gold royalty companies and would consider investing in them. Just not his company.
Profile Image for Stan Stinson.
63 reviews10 followers
March 13, 2023
Got Gold? Silver? Get this book.

This is a great resource/primer on why you should own gold and why you should own it now.

Get it. Read it. Take action. Then, when all your friends & media are talking gold, silver & precious metals you will be in a position to take some profits, but more importantly, have the peace of mind of owning a store of value like gold provides & will be protecting your wealth and that of your family.
Profile Image for clrly.
7 reviews22 followers
June 9, 2020
I was fortunate enough to stumble upon the royalty and streaming space, and even more fortunate to meet E.B. This book contains all the information you need in order to navigate the waters ahead, and is presented in a straight-forward, accessible fashion that is colored with the author's insightful and, at times, humorous commentary. A must read on your trip to the moon.
1 review
July 8, 2020
Wealth Saver

A very well written book. EB tackles the history and current state of our financial system in a way that is both interesting and enjoyable without being overly technical or academic. The real value is in creating a good understanding of where our financial system is quickly headed and how to take steps to protect your hard earned wealth.
12 reviews
October 16, 2021
This book is so insightful that it teaches the power of gold

I enjoyed learning about Gold and how it helped America in being a superpower. The lessons in here go beyond knowing how to buy and sell gold. It gives you the good and bad about gold and leaves you well informed to make your own decisions
2 reviews
December 20, 2022
Basically the author talks about a lot of things in this book : Global crisis, housing bubble, tech bubble, crypto, mining stock, Quatitative Easing...
But the essence of the book : Gold, isnt mentionned a lot. Maybe 20% of the book talks really about the value of gold and why to buy it. This could be a 45page book instead of 220+ pages.
1 review
September 15, 2020
Great info on Gold mining and Gold Business

Huge stock tip at the end of this book. Author is clearly an expert will to share what he has learned over 20 years in the Gold business.
Profile Image for Evghenii.
123 reviews22 followers
March 11, 2021
Good look at financial markets, currency and precious metals. If the reader cares about the retirement and independence, the book will give a good perspective on how to preparer. I wish I read it twenty years ago.
Profile Image for Charlie.
51 reviews
March 12, 2021
An excellent book about current issues with economy and currency, a quick easy read, could be the most valuable book I've read with regards to personal finance. You can hear him interviewed on YouTube.
Profile Image for Alexis Melendez.
6 reviews
April 10, 2021
Great read

This book is an easy read, and very informative. It gives the reader a good historical lesson on gold. I especially like the recommendation on acquiring gold and what type. I would recommend this book to anyone considering purchasing gold.
Profile Image for Fransu.
32 reviews1 follower
October 30, 2021
Great short read on how to start preserving your wealth for the financial storm that's looming ahead. Especially great read for those that are new to the space of gold and precious metals. Great job EB Tucker.
20 reviews
December 12, 2021
Easy to read, encouraging, contains practical info.
Cons: information quite basic, well suited for beginners first time introduced to the idea of investing in gold. The Author use the book to promote his own business
1 review
June 10, 2020
Some Very Important Information in this book

Very informative on physical and ETF gold. Physical gold is stretched as an all time money. Thank you EB Tucker.
Profile Image for Remco Douma.
1 review
June 12, 2020
Great read, it explains why and how gold can protect your wealth during these troubling times and also dives into what the options are for actually doing so.
3 reviews
June 20, 2020
Very informative

Has a wealth of information in the book and a good narrative style. A topic I knew little of on started to read but came to understand better the more I read.
1 review
August 10, 2020
I've heard ur converse with David kitco gold and pretty much impressed
1 review1 follower
September 17, 2020
Going for the Gold!

A great book and must read if your new to precious metals and want to understand the REAL definition of money!
21 reviews
November 24, 2020
always good to reinforce a message and understand what we are doing
9 reviews2 followers
December 7, 2020
Made me develop a new respect for the value of the ancient Indian tradition of keeping a certain portion of one's wealth in the form of gold.

Profile Image for Robert.
3 reviews
January 15, 2021
Great book

Excellent read. Good practical information. Must read for introduction on buying gold. Historical information helps you understand economics of today.
Displaying 1 - 30 of 46 reviews

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