Michael Victory
Gold will save us.
By Michael Victory
I don't think most people get it yet, how quickly the debt snowball is rolling through the wallets of our country, how fast it will gain speed over the next decade, and what this will do to our country. As it moves faster and gets larger it will change the standard of living for every hard working American. The only solution government officials will have, will be to put the United States through bankruptcy or to monetize the debt by printing money. Printing more fiat paper will be the most popular and likely option.
Our experiment in fiat currency and the complacency that went with it has run its course. Gold is now gaining value against all the worlds currencies and the world's savers are waking up to the fact that central bankers, not just The Federal Reserve, but also the Bank of England, The Bank of Japan, the European Central Bank (ECB), and others, have been creating inflation and debasing currencies. As that sinks in, more people are going to be rediscovering gold as sound money, as a safe haven, as a store of value, and as a medium of exchange. Once that starts to happen, you'll begin to see the premium of money being built back into gold.
There will always be those who say that gold is a "barbaric relic," that gold standards don't work, and that there's not enough gold to make a monetary system viable. That 's all nonsense. Scarcity is what gives gold its value, and price structures will adjust to reflect the money supply. Governments themselves will naturally resist a return to a gold standard because it forces discipline they don't want. It forces them to make a choice: get more gold, reduce spending, or raise taxes. (Schiff, 2009)
To protect their savings every citizen should consider holding gold as a part of their investment portfolio. The modern world has never been better positioned to use gold as a medium of exchange than it is right now.
Schiff, P. D. (2009). Crash Proof 2.0. Hoboken, New Jersey: John Wiley & Sons, Inc.
© Michael Victory
June 15, 2010
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I don't think most people get it yet, how quickly the debt snowball is rolling through the wallets of our country, how fast it will gain speed over the next decade, and what this will do to our country. As it moves faster and gets larger it will change the standard of living for every hard working American. The only solution government officials will have, will be to put the United States through bankruptcy or to monetize the debt by printing money. Printing more fiat paper will be the most popular and likely option.
Our experiment in fiat currency and the complacency that went with it has run its course. Gold is now gaining value against all the worlds currencies and the world's savers are waking up to the fact that central bankers, not just The Federal Reserve, but also the Bank of England, The Bank of Japan, the European Central Bank (ECB), and others, have been creating inflation and debasing currencies. As that sinks in, more people are going to be rediscovering gold as sound money, as a safe haven, as a store of value, and as a medium of exchange. Once that starts to happen, you'll begin to see the premium of money being built back into gold.There will always be those who say that gold is a "barbaric relic," that gold standards don't work, and that there's not enough gold to make a monetary system viable. That 's all nonsense. Scarcity is what gives gold its value, and price structures will adjust to reflect the money supply. Governments themselves will naturally resist a return to a gold standard because it forces discipline they don't want. It forces them to make a choice: get more gold, reduce spending, or raise taxes. (Schiff, 2009)
To protect their savings every citizen should consider holding gold as a part of their investment portfolio. The modern world has never been better positioned to use gold as a medium of exchange than it is right now.
Schiff, P. D. (2009). Crash Proof 2.0. Hoboken, New Jersey: John Wiley & Sons, Inc.
© Michael Victory
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