Economics

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Saturday, 11 February 2012

Gold & Silver: THE Answers to Escalating Financial Doom

Most every nation in the world today practices a fiat currency in which the printed notes representing money are just promises to redeem as legal tender. There is no backing of any asset, per se, to guarantee that these notes are going to be of value forever. On the other hand, most recognize that gold and silver at one time were used to ensure that value was always held in balance. These two precious metals have long since been removed from the picture as a store in value connected to the printing of currency. When the money supply is in the form of printed paper without backing that country runs the risk of using the printed matter to alleviate debt and stimulate the economy without basis. This is where the United States dollar and most international currencies reside right now. ??

What can be done to protect oneself and family from this impending event of seeing the dollar, and for that matter all international currencies, becoming worthless? The answer is in precious metals -??specifically gold and silver. These two metals:

  • - hedge against inflation,
  • - protect against government policies that ignore fiscal responsibility and
  • - provide a haven of sound money.

Since 2002 the price of gold has gone up 620%, from $278 per ounce to a high of $1,723 as of this writing. Of course, the value of gold really hasn't changed ' it still has the same purchasing power as it has held for centuries. What has changed is the value of the dollar or perhaps more accurately, the lack thereof....more

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