Saturday 28 January 2023 \

 

The Truth Be Told About The Dollar And Gold

The Truth Be Told About The Dollar And Gold

For a quite a while now lots of attention has been given in the media regarding the higher costs of living such new state taxes, staple consumer goods, fuel etc. Also for those paying attention you will have seen and heard lot s of information in the news on increasing gold prices. Main stream media has been covering the economy saying all the while it is improving.

 

However all one needs to do is open their eyes and look to see that many businesses are struggling and shutting down. Is this improvement? We can listen to people telling how they don't have any savings left or money anymore. It's only obvious the US Economy is getting worse. The value of the US Dollar which has solely been used as the world's reserve currency is faltering. Consequently most world currencies are failing along with it. Question: Why is all this happening? What can anyone do?

 

I am going to share this secret with you. The main problem here is all world currencies including US Dollars are debt based. That is correct; these currencies are NOT backed by something tangible that holds value such as gold. Instead there backed only by the promise and good faith of the country that prints them.

 

In all actuality these debt backed currencies are backed by only more debt or more promise to pay and nothing more. This type of currency is called fiat currency of which all world currencies have been using since 1971. In 1944 after the war all the world's Central Bankers met in Bretton Wood USA. An agreement was signed by all the attendees' known as the Bretton Woods Agreement which placed the US Dollar as the world's reserve currency and it was backed by 10% gold. All other nations backed their currencies in Dollars which was backed by gold at $35.00 per ounce.

 

However it was in 1971 the President of the United States Richard Nixon was forced into "temporally" ending the Bretton Woods Agreement. This immediately took the dollar off the gold standard 'closing the gold window' causing all global currencies became fiat currency. It's been 40 years now and still the "temporary" ending to the Bretton Woods Agreement has never been re-instated. And sadly probably never will be.

 

The truth here is that the costs for goods and services are not actually rising and neither is the price of gold. History shows us that gold prices have not risen in thousands of years. Here is an example: Back in Roman times someone could purchase a really fine toga along with a good looking belt to match and some nice comfortable sandals for the price of a one-half ounce gold coin. Today that same one–half ounce gold coin can buy someone a very nice 3 piece suit complete with a dress shirt, belt & dress shoes.

 

What is actually happening TODAY is that the prices of all goods and services are being inflated. One reason is due to the Dollar which is no longer backed by gold. The next reason is fiat currency is able to be printed out of thin air and because it is debt based the purchasing power of this currency goes down as the amount of government debt goes up. This is why the United States is in the situation it is in now. Along with the many years that the government has been on a spending spree with all its costly government programs and the debt borrowing limits raised every few years because they rather borrow more then pay what they actually owe were heading into a very serious financial crises of "Epic Proportions."

 

Folks there are two investments that you can get into during these times of economic chaos. Thus actually protecting your financial assets during these extraordinary times and most likely earning more purchasing power instead of losing it.

 

Invest in physical gold & silver. Pretty much since the time of Aristotle these precious metals have been used as currency and throughout history have always held there true value. Saving "MONEY" will get you Broke! Dollars have no value as you have learned in this article and to top it off if you are saving it in a bank you're getting little to nothing in return in the form of interest so why help out the banks, help yourself.

 

Source: Tom Genot  www. articlebase.com

 



 

 

We recommend

Social Networks