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The Changes Of Gold Silver Prices As Well As Its History
In times of economic uncertainty like we're faced with today, making a case for having private gold silver is not very difficult. A lot more people are coming to the awareness that our paper dollars are just a symbolic representation of value, however really have no true value in any way.
Until August 15, 1971 at least those dollars had the support of true money - GOLD. That was the period that President Nixon, without the approval of congress, or the International Monetary System, ended convertibility of the US dollar to gold silver. This single act turned the reserve currency for nearly all nations on the planet into a fiat currency. The truth is the globe is now running with a fiat currency.
Through history all fiat currencies ever created have failed. There have been thousands of fiat currencies created over the centuries, and one constant has been their greatest demise. There has yet to have been a fiat currency which has been sustainable. In general, a fiat currency endures around 30 to 40 years before it is replace with another system. History tends to repeat itself, and I expect this time will be similar, only this time the entire world will be effected, not simply a single nation.
It's for this reason that we're seeing gold and silver near all time high prices. The gold silver prices is not actually changing though. It simply requires more paper dollars to acquire it. Next time someone tells you to buy gold, or buy silver you will see why.
Dan Giercke is a student of wealth cycles and the investments of the wealthy. Because of several years of research and inquiry, he now shares his knowledge with a passion for aiding others gain financial freedom.
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