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fiat currency
ounce of gold
reserve currencies
money banks
value of gold
financial decisions
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Gold Savings Accounts
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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.

Inflation

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.

Inflation.

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!


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