It doesn't matter if you're a big risk taker or an ultra-conservative investor, Cramer said this should be in your portfolio.
The Mad Money host was talking about gold.
Cramer is well aware that gold has critics – in fact the precious metal has a lot of critics.
"It has been a horrendous performer of late," Cramer admitted "And I hear a million reasons why: i.e. the Fed wants rates lower, the dollar is strong, the chaos in Europe is over, China has stabilized."
"I have to tell you that every one of those is a pile of hooey," Cramer insisted. "I stand in defense of owning gold."
Despite the relative improvement in the economy – Cramer still believes that easy money around the world will drive the precious metal.
"We are in an experimental phase of monetary policy all over the globe," Cramer said. "There are countries trying to reignite growth by driving down their currency's value, with Japan being the latest in a long line of nations trying to change their fortunes that way."
"There are countries and continents that are printing money left and right," he said.
And in this kind of environment, where paper currencies could become worth less and less, he thinks gold will become a default currency.
Of course, that's an older argument – and one that's been made by gold bulls for quite some time. Cramer, however, sees other catalysts.
First Cramer feels that the process of getting gold out of the ground is growing more expensive – and those costs, he says, will be passed along. "No matter which gold company I listen to - the finding costs continue to go up and the pollution rules continue to get tougher.
Also he says the technicals are long-term bullish. If you look at a chart of gold over a decade the trend is clearly from the lower left to the upper right – a bull sign.
But– on top of all this – Cramer said what matters most is the amount of gold coming out of the earth. "The veins keep getting smaller. That's what matters more than anything," Cramer said. "There has been a failure to find a huge new field of gold."
That's not to say that the price of gold can't go lower in the short-term – it can.
"We have to expect that the European love affair with gold has probably cooled as the chaos has certainly diminished. The inflation scare in China has certainly been tamed. The demand in the United never off the charts, now faces tremendous competition from real estate," admitted Cramer.
However, if those catalysts drive gold lower – Cramer said with customary enthusiasm – buy, buy, buy!
As outlined above Cramer feels strongly that gold belongs in everyone's portfolio. "I hope it comes back down more so I can recommend it hard," he said.
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