New York, New York (PressExposure) March 08, 2012 -- Danny Esposito, co-editor for Penny Stock Detectives, believes that the best way a person can protect themselves against central bankers printing money is by owning precious metals. In a recent Penny Stock Detectives article, Esposito argues that gold has gotten all of the attention, but platinum is also a precious metal that currently has little investor following, but will trade in sympathy with gold and offers just as good a protection from money-printing as gold.
"Platinum is almost impossible to corrode, even at very high temperatures, which is why it has been considered a precious metal," stated Esposito. In his article he points out that, in the 1700s, platinum was referred to as "white gold" and, in the 1800s, Russia made rubles-the country's currency-out of platinum.
In the 1970s and 1980s, Esposito notes that Japan, Europe, Australia, Canada, and the U.S. began producing platinum bars and coins as legal currency. Of course, they were never used as money as in Russia, but rather for investment purposes, because platinum investments are so rare.
According to Esposito's article, platinum is still considered a precious metal because it is one of the rarest elements to find in the earth's crust. Only a few hundred tonnes are produced annually. Almost 80% of platinum investments are found in South Africa, with the other concentration of platinum investments found in Russia and Canada. Thus far, there has been little success in finding platinum in decent concentration in other parts of the world.
"The great thing about platinum investments is that, on top of being a precious metal, it has many industrial applications," noted Esposito. "The catalytic converter, which reduces a vehicle's toxic emissions, uses platinum as its key component. Since it is resistance to high temperatures, platinum investments have been made in fuel nozzles and missiles. All hard drives today contain some platinum, because it increases data storage capacity. Platinum investments are being made in almost all aspects of electronics, including fiber-optic cables and infrared detectors."
Due to it being almost impossible to corrode, and the popularity of platinum bars and coins, investors who believe they need to protect themselves from central bank printing should be considering platinum investments, according to Esposito. As another added benefit, platinum is used in many industrial applications, with its uses rising almost every day, especially in the fields of medicine and technology.
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