Investing in Gold and Silver for Your Own Protection | BalkanW

Gold and Silver has become an absolute necessity in the coming years to protect one?s self and one?s family from the coming financial debacle. Now I know people might think this is a conspiracy theory or a far-fetched argument. But worldwide, it is extremely vital to get yourself educated about what our financial and global leaders are doing with the one thing that is present in our daily lives. That is our money or what I would like to call paper currency.

You see, before 1971, all the currencies in the world were pegged to the US Dollar, and the Dollar was pegged to gold at a fixed price of $35 per troy ounce. On hindsight, this is amazing considering that the nominal price of gold has risen to about $1900 just recently. The US was fighting a war in Vietnam, which was causing them to engage in deficit spending, which basically means that the government is printing money. Soon, with increased amount of US Dollars circulating around the world, countries began to exchange their US Dollars into Gold from the US Treasury. This reduced the amount of gold holdings of the US. But many countries followed suit, and exchanged their US Dollar, in exchange for Gold. Hence to stop this ?Run on the US Dollar?, President Nixon removed the link between the US Dollar and Gold, effectively making every currency around the world Fiat. This means that paper currencies are only legal tender merely through a decree by governments, but with no backing from anything tangible.

Without the backing of anything tangible, governments are now free to spend away and print ?Paper Currency? as much as they want. This has the effect of inflating money supply, where the direct impact would be inflation of prices. With continued low interest rates imposed by the Federal Reserve, coupled with increasing amounts of bailout money given to banks, and currency wars, it is a race to the bottom to devalue all currencies around the world, in the guise of attempting to remain competitive in the world economy.

But for you and me, this would mean that the value of our savings would decline. Historically, the purchasing power of fiat currencies will reach its true value, ZERO. Therefore to preserve your wealth and to ensure that you have some form of basic protection, I appeal to all who are reading this to get most of your savings and convert some of your wealth to Gold and Silver. This is especially important when you want an assured method in maintaining, protecting, and I daresay increasing your wealth in these uncertain economic times. Our own hard- earned money is now being attacked by devaluation, and the time has come to protect yourself from impending financial disaster.

Faerun Frock is a high school teacher from Singapore. An avid student of economics and geography, he looks at current events happening at the moment and willingly shares his own analysis as to what needs to be done to protect yourself. He is a student of Self improvement, Wealth Preservation and Wealth Creation. For more information, you may visit his site at Faerun-Frock.com

Source: http://balkanw.org/2011/09/15/investing-in-gold-and-silver-for-your-own-protection/

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