As I have said many times before, the economic crisis of 2008 was only a speed bump on the way to the main event. I believe that before the end of this decade there will be an economic crisis so historic that it will eclipse the crash of 29 and the subsequent great depression. I also believe it is both unavoidable and inevitable, because it is merely the free market releasing the stored up energy from decades of economic manipulation. Yes… bad things are going to happen, but it could be the best thing that ever happened to you.
This guide started out as “The Top Ten Reasons TO Buy Gold and Silver” and was originally drafted by some good and well-intentioned employees, but when I read it something just didn’t feel right. It contained all the usual reasons that any precious metals dealer would point out as to why people should own gold and silver… they’re the ultimate insurance policy, they’re private, they’re a hedge against inflation, they’re a timeless investment, and so on. I spent lots of time trying to rewrite them but there was still something wrong. And then it dawned on me… though they were all good reasons to own gold and silver; they weren’t the reasons that “ I “ buy gold and silver.
So here you go… a countdown of “The Top Ten Reasons That I Buy Gold And Silver.”
10. All World’s Currencies are Fiat Currencies, and Fiat Currencies Always Fail.
99.9% of the world’s population is unaware that we no longer use money… we use “fiat” national currencies. What is a fiat currency? Fiat currencies are faith based. They are national currencies that are not backed by anything of value like gold, instead the government just declares that they have value and, as long as the people keep believing, they accept it… for a while. But here’s the thing, there have been thousands upon thousands of fiat currencies throughout history, and they have all failed… 100%… no exceptions.
But there is a vast difference this time around. Since 1971, for the very first time in history, all of the world’s currencies are fiat currencies simultaneously.
Remember this as we progress through the following 9 of Top Ten…
ALL FIAT CURRENCIES FAIL.
Source Michael Maloney, GoldSilver