Silver is far sounder money than the banknotes we carry with us. This is why...
I'm following Europe's credit crises or America's debt ceiling issues, and it looks a lot to me like the financial system is heading for a brickwall.
When the banks were bailed out in 2008, huge debts were moved from private to government balance sheets. They never went away. They just switched places
When the banks were bailed out in 2008, huge debts were moved from private to government balance sheets. They never went away. They just switched places
Until 1971 the gold bond was the credit benchmark that ALL other debt instruments were measured against. It was the ultimate standard of debt. The subprime mortgages crisis would have been impossible if gold bonds were still in place. On August 15, 1971 gold bonds, in a few pen strokes, were abolished. The yellow metal was cast out of the international monetary system.
Since then, you've lived in a world where central banks have run amok. They've printed unprecedented amounts of money. Their actions have distorted currency values and stock prices. The taps for unlimited debt were turned on full. And the soundness of this debt could no longer be judged against the soundest money of all.
Since then, you've lived in a world where central banks have run amok. They've printed unprecedented amounts of money. Their actions have distorted currency values and stock prices. The taps for unlimited debt were turned on full. And the soundness of this debt could no longer be judged against the soundest money of all.
That's how we find ourselves here today.
The madness continues. Central banks chip away the value of real money by printing more. Each crisis you read about in the finance pages has its root cause in that ill-thought decision in 1971. And there will be more Greece and Ireland-style defaults to come. Italy could be next. Or Spain. And eventually...inevitably...America. In the absence of radical, worldwide monetary overhaul – the return of the gold bond – the approaching catastrophe is almost too devastating to comprehend. The answer is Simple: own gold and silver.
The madness continues. Central banks chip away the value of real money by printing more. Each crisis you read about in the finance pages has its root cause in that ill-thought decision in 1971. And there will be more Greece and Ireland-style defaults to come. Italy could be next. Or Spain. And eventually...inevitably...America. In the absence of radical, worldwide monetary overhaul – the return of the gold bond – the approaching catastrophe is almost too devastating to comprehend. The answer is Simple: own gold and silver.
On a global level your wealth and prosperity is in the hands of central bankers. The obvious course of action is to take some of that power back from the central banks by owning "hard money".When choosing what type of hard money to own right now, I would choose silver over gold. Silver is still affordable.
