Comments on: Gold is not the only salvation

By: admin

admin — Thu, 25 Jun 2009 06:55:53 +0000

The government again prohibiting Americans from owning gold bullion is something that we may have to deal with in the future, but today we have to deal with the government destroying the dollar via massive inflation of the money supply. (The Fed, of course, is part and parcel to this.) History has shown gold and silver to be the best hedges against currency debasement. Until something better comes along, I’m sticking with gold and silver.

By: Vidal

Vidal — Fri, 03 Apr 2009 20:47:00 +0000

My greatest concern regarding the world Governments meeting of the minds is when paper in every form, (dollar,euro, yen, yuan) and so on, has been printed to levels equal to the Zimbabwe currency and “PEOPLE” the world MASSES, will no longer want/accept the lies behind currency forcing all Governments to return to real money…. (Gold, Silver), My fear is that the “20″ or the worlds meeting of the minds, behind close doors, agree on (Gold, Silver) as the world’s money and with Obama’s articulate charisma coupled with his strong need to emulate the past President of the last depression “Roosevelt”, (behind closed doors) plants the already existing seed for Government confiscation of all Gold/Silver in the name of “WORLD ECONOMY”. All GOOD AMERICANS WILL TURN IN THEIR GOLD/SILVER…. OH WELL, I GUESS I WON’T BE CONSIDERED A GOOD AMERICAN. ANYTHING I HAVE I WORKED FOR AND I PAID FOR WITH PAPER DOLLARS I “EARNED” NO ONE GAVE ME NOR DID I TAKE ….. I WORKED FOR IT AND I WILL KEEP WHAT I WORKED FOR……..

By: Richard Peterson

Richard Peterson — Wed, 18 Feb 2009 20:54:39 +0000

I don’t think I have ever seen one of these “anti-silver” articles that didn’t trot out digital photography replacing chemical film as an example. But surely that ship sailed years ago? If so then any impact must be already priced in.

By: Gabriel Vega

Gabriel Vega — Wed, 18 Feb 2009 20:16:29 +0000

I’ve been reading your articles for a few months now, and more and more I am impressed by your obvious knowledge of money theory and fiat currency. I am on the verge of paying off all my major debt, and now am looking actively into a diverse group of investments, no small part of which precious metals shall play. Indeed, as this ‘recession’ deepens, and more and more people fly from fiat currency to more stable commodities such as precious metals, I am less and less convinced that fiat currency fits the term of ‘money’.

Let me explain.

Money defined, is a medium of exchange. Thus fiat currency fits that role. But money is also defined as a store of value. That would lead one to believe that it retains a certain amount of value in and of itself, simply put: that the money itself is valuable. Precious metals obviously fit this term because of their many industrial uses, not to mention their simply pleasing appearance. History serves as an excellent meter in determining a commodities’ value, indeed, the cliche’ is true in that we cannot know where we are headed unless we know where we have come from.

The same is true of money. Gold has been a medium of exchange sense antiquity, as has silver, and while palladium and platinum have not enjoyed so ‘rich’ a history, theirs is nonetheless a ’shining’ one and will play a pivotal role in the future as a store of value.

At least, that is my humble opinion on the matter.

But what I am getting at is that money is not a fictional idea. It has to be tied to reality, as precious metals are. The value of fiat currency, on the other hand, must ether be backed up by the promise of value in a real commodity (like the fractional system that America has experimented with in the past) or be mandated by government decree, which of course, is always backed up by a threat.

However, as we are seeing, as we have seen, and as we will see in the future, fiat currency cannot survive as a viable medium of exchange. It has happened time and time again on a national level, and now it is happening on a global level.

I’ve never understood why we as a race have such a hard time learning from our mistakes. Regardless, I will continue to enjoy your commentary. Keep up the good work, and as the saying goes, gold and silver must be bought.