This Article is About
fiat currency
ounce of gold
reserve currencies
money banks
value of gold
financial decisions
gas tank
Gold Savings Accounts
Join 1000's of Authors at StreetArticles Today!

Gold Savings Accounts.

Many, if not most of the financial decisions you make were influenced by people who are masters at making money. Banks, mortgage companies, the stock markets, and especially the credit systems are crafted to put you and me at a disadvantage. Their ultimate goal is to take as much of our money as possible for their “services”.

Then there is the government which does its best to make us, and to keep us, dependent on their benevolence while picking or pockets. One of the worst results of their transgressions was the creation of “fiat money”.

Fiat currency is money that has value only because the government has created it by regulation or law. There is no asset or commodity to back up money created by fiat. You’ve noticed that our dollar bills have not carried the term “Silver Certificate” for decades. It now says “Federal Reserve Note”!

The Us Dollar became a fiat currency when Nixon decided to take us off the gold standard in 1971. Today, the euro, and all other reserve currencies, are fiat currencies, with no asset to back them.

The term fiat money has been defined variously as:

  • currency a government says is legal tender.
  • money which is only backed up by faith in the government.
  • money which cannot be converted to a valuable asset held by the government, such as gold or silver.


Back in 1980 I was earning $100,000 working for a very well known company. Times were great. I could buy most anything I wanted. And I, foolish man, did just that. I bought a top of the line TransAm. Paid $14,000 cash.

A few months ago my fourteen thousand 2011 dollars bought me a ten year old pick up truck.


A few months ago I could fill my gas tank for $75. This week it cost me a bit over $100.

Serious inflation.

But do you know that in Roman times about 2000 years ago, one ounce of gold bought 700 loaves of bread for a Roman Legion? At today’s prices for bread (about $2 per loaf) and today’s value of gold (about $1460 per ounce) you would still get about 700 loafs of bread for your one ounce of gold?

Gold and silver retain their value throughout the centuries.

Take heart.. we can break free from the cycles of inflation, deflation, stagnation, created by the mainstream systems.

There are a few mechanisms we can use effectively.

One of those is owning gold and silver. In these you have an asset that you can hold in your hand, not subject to inflation, resistant to market manipulation, and not leveraged away by any bank, Federal Reserve, or ignorant or malicious politicians.

Gold and silver can be delivered to your door, or held securely in a bank vault. Not just any bank.

Gold can be purchased from the right source in small quantities. Who, these days, can buy an ounce or two of gold, let alone a brick of gold? At best I can buy a gram or two every month. But that’s money that would otherwise be sitting in my “savings” (what a joke) or checking account earning me a negative interest after inflation is accounted for.

Naturally there are questions about how and where to start a precious metals savings account, how liquid the account is, how safe it is, do I have to take delivery?

Is owning gold practical?

Don’t overlook this option to save the only real and oldest currency in the world!

Street Talk

No comments present
You May Also Like
Introduction to Trading Silver Online
Trading silver futures is one of the commodity trading instruments available with most online forex brokers. Trading in silver is quite similar to currency trading and those who are familiar with trading forex can easily venture into trading spot silver or silver futures online. It falls under the 'Commodities' or…
By: Jeanene in  Investing  >  Day Trading   Oct 20, 2012  
  Likes: 0

Money Makes The World Go Around
The Man in the Street Attempting to understand the root cause of a problem should, in theory, contribute to finding its solution. Applying this to the global financial situation however is not as easy as it sounds. For the man in the street, trying to identify who might have, or…
By: Penny Black in  News and Society  >  Economics   Jun 02, 2012  
  Likes: 8

Are You Paying Too Much For Content? Yes!
Are you being fooled? Seriously, I am going to take a few minutes for you here to put things into perspective. Somehow over the past umpteen years it has become acceptable for people to sell high ticket course online. You have seem them. “Get my awesome super exclusive secret course…
By: Kyle in  Internet and Businesses Online  >  Internet Marketing   Mar 14, 2012  
  Likes: 53

Gold Vs Silver: Which Is The Better Investment
Should you buy gold or silver If you’d bought 1ounce of gold 10 years ago you would have paid less than $300, today's gold price is over $1600. In 2006 1ounce of silver would buy over 4 gallons of gasoline, today it will buy over 10 gallons. It seems evident…
By: Penny Black in  Investing   Apr 13, 2012  
  Likes: 5

Gold Value Per Ounce - Challenges In Pricing the Precious Metal
The gold value per ounce (at least as measured by exchanges) is presently above $1400, but what is the gold value per ounce truly today? There is significant reason to believe that the gold value per ounce is not properly represented by the dollar cost as seen on exchanges. While…
By: Steve Wise in  Investing  >  Futures and Commodities   Oct 04, 2013  
  Likes: 0

Are You Ready For A Police State
When the Federal Government starts spying on its citizens and harassing them for something you may have said, that is the beginning of a Police State. When police can arrest you and hold you indefinitely without charging you, that is the beginning of a Police State. If you are not…
By: JRG in  News and Society  >  Pure Opinion   Jun 03, 2011  
  Likes: 7

Gold And Silver In the Economy
If you did not watch the news you’d still be inundated with news about gold, silver, and precious metals as it relates to the government. I turned blue in the face talking to a group of guys and gals who acted like they knew or cared nothing of it. And…
By: Koko Ishe in  News and Society  >  Pure Opinion   Jun 09, 2011  
  Likes: 0

Precious Metals And Mining Mutual Funds Are at the Vanguard Of Retirement Investing
Precious metals have been more than just a commodity or luxury item for thousands of years. Gold and silver have been used successfully as sound units of currency for millenia by various, advanced, ancient civilizations. Unlike land, livestock, salt, cigarettes, or even paper currency, gold has the following beneficial properties…
By: jeroen waning in  Investing  >  Mutual Funds   Dec 29, 2012  
  Likes: 0

Why Buy Gold?
Why buy gold? Why not marbles, sports cards or antiques? The answer is simple. There is nothing else, with the exception of other precious metals, that has a guaranteed value. With gold you can basically sell it at spot price anywhere in the world. There is no waiting for someone…
By: Jeff Sneeringer in  Investing  >  Futures and Commodities   Mar 15, 2011  
  Likes: 2

Outperforming the Investment Gurus
The stock market reflects changes in the economy filtered by the public’s perception of profitability. Unsophisticated investors tend to trade frequently in response to feelings of fear or greed. Unfortunately, acting on these emotions tends to result in losses. Market gurus attempt to capitalize on the hopes and fears of…
By: james siddall in  Investing  >  Retirement Planning   Mar 19, 2016  
  Likes: 1

How To Prevent Heron Theft
Herons are beautiful, majestic birds that have one major flaw. Herons love to feast on Koi, and where better then to find Koi then an unattended Koi pond or garden? When you first notice a Heron in your garden, you may not even think of these birds as a danger.…
By: Makowski Piotr Dariusz in  Investing  >  Retirement Planning   Mar 03, 2016  
  Likes: 1

Commodity Prices Have Crashed
There are a number of sure-fire ways to know the economy isn’t doing well. These are time tested, proven indicators. Among them, the price of commodities stands out as possibly the most reliable indicator, closely followed by dry goods shipping costs. When commodities are cheap, it’s because nobody wants to…
By: michael61 in  Investing  >  Retirement Planning   Jan 02, 2015  
  Likes: 0

Your Transition to Retirement
Have you thought about your transition to retirement? Young or old you need to think about it. Young people need to plan for retirement and old people need to preserve their assets during retirement. I am not a financial advisor or retirement planner. I do want to tell you what…
By: John T Jones, Ph.D. in  Investing  >  Retirement Planning   Apr 21, 2011  
  Likes: 1

Setup Smsf - Establishing And Maintaining Superannuation Yourself
Planning ahead of time and age, one requires the best resources to garner requisite knowledge with respect to saving for a comfortable retirement stage. In Australia, individual belonging to the managerial working class have a shrewd understanding of the financial market. A white collar working professional is aware of the…
By: Redwood Advisory in  Investing  >  Retirement Planning   Jan 02, 2014  
  Likes: 0

Smsf - A Means for A Financially Secured Life After Retirement
When looking for a means to ensure that your retirement period is secured with a steady source of income, you will need to look for an option not only yields high returns on your long term investments but grants a level of independence in decision making pertaining to superannuation investments.…
By: Redwood Advisory in  Investing  >  Retirement Planning   Jan 15, 2014  
  Likes: 0

Article Views: 1847    Report this Article