Are you concerned about the value of the American dollar? I am and have been all year. So I did a Goggle search on paper money. I already knew that in the great depression and other times in history that paper money has lost ALL of it’s value. I wanted to know why, and what I should do to protect my family. My research was shocking. Have you ever heard the old expression, “not worth a Continental”? Have you ever read about the great depression after World War 1...you know 1929, 1930, & 1931? I will get back to my research, but before I scare you into a depression of another sort, let me tell you I found an answer. The answer is gold or silver coins. Everyone knows this is right, but gold is so expensive at close to $900 an once, not many can afford gold. And I can’t ether, but what about the American Silver Eagle? I found a steady, consistent, long-term way to accumulate American Eagles that even I can afford. You can get that information on my affiliate website.
Now that I have given you hope, let me tell you the rest of the story. I found much of the information on the whiskey and gunpowder website (www.whiskeyandgunpowder.com/Archives/) The Downfall of Fiat Currency, August 7, 2007
By Nick “Child Prodigy” Jones , Minneapolis, Minnesota, U.S.A.,
“Rome — The Denarius”
“The devaluation of a currency is nothing new, it happened as far back in the days when Rome was the world power. “Although Rome didn’t actually have paper money, it provided one of the first examples of true debasement of a currency. The denarius, Rome’s coinage of the time, was, essentially, pure silver at the beginning of the first century A.D. By A.D. 54, Emperor Nero had entered the scene, and the denarius was approximately 94% silver. By around A.D.100, the denarius’ silver content was down to 85%.
Emperors that succeeded Nero liked the idea of devaluing their currency in order to pay the bills and increase their own wealth. By 218, the denarius was down to 43% silver, and in 244, Emperor Philip the Arab had the silver content dropped to 0.05%. Around the time of Rome’s collapse, the denarius contained only 0.02% silver and virtually nobody accepted it as a medium of exchange or a store of value.” So you can see the devaluing of currency is not a new problem.
That is about a 97% or 98% devaluation...that is BAD!
“The sums of money to be paid by Germany were enormous, and the only way it could make repayment was by running the printing press. (Huge unpayable debt — that sounds familiar. I wonder what the solution in the U.S. will be.)
Inflation got so bad in this period that German citizens were literally using stacks of marks to heat their furnaces. Here is a brief time-line of the marks per one U.S. dollar exchange rate:”
“ April 1919: 12 marks
November 1921: 263 marks
January 1923: 17,000 marks
August 1923: 4.621 million marks
October 1923: 25.26 billion marks
December 1923: 4.2 trillion marks. “
Did you take that in? By December 1923 4.2 trillion marks had the same value of one US dollar. That has to about the greatest example of a countries' currency losing it’s value.
“More Recent Times”
“In recent times, fiat failures have become more common occurrences. For the sake of time, I won’t go into extensive details of all these examples of paper money failures, because there are SO many. But here you have it:
In 1932, Argentina had the eighth largest economy in the world before its currency collapsed. In 1992, Finland, Italy, and Norway had currency shocks that spread through Europe.
In 1994, Mexico went through the infamous “Tequila Hangover,” which sent the peso tumbling and spread economic hardships throughout Latin America.
In 1997, the Thai baht fell through the floor and the effects spread to Malaysia, the Philippines, Indonesia, Hong Kong, and South Korea.
The Russian ruble was not the currency you wanted your investments denominated in 1998, after its devaluation brought on economic recession.
In the early 21st century, we have seen the Turkish lira experience strokes of hyperinflation similar to that of the mark of Weimar Germany.
In present times, we have Zimbabwe, which was once considered the breadbasket of Africa and was one of the wealthiest countries on the continent. Now Mugabe’s attempts at price controls, combined with hyperinflation, have the nation unable to supply the most basic essentials such as bread and clean water.”
The scary thing is that the U.S. has some of these above-mentioned characteristics, the ones that lead to toilet paper money becoming just that.
“Under the infallible leadership of President Franklin Roosevelt, it was made illegal to own gold. On March 11, 1933, he issued an order forbidding banks to make gold payments. On April 5, Roosevelt ordered all citizens to surrender their gold — no person could hold more than $100 in gold coins, except for collector’s coins. He also made it unlawful to export gold for payment abroad, unless done through the Treasury. The penalty for defying Roosevelt was 10 years in prison and a $250,000 fine.
But the official demise of the dollar was locked into place in 1971 when “Tricky Dick” Nixon completely severed all ties between the dollar and the gold standard. During the decade that followed, the U.S. experienced some of the worst inflation in its history, only matched by today’s U.S. monetary and fiscal irresponsibility.
The U.S. of A. has all the characteristics set in place that have led to the collapse of every other fiat currency money in history.”
This is only part of the article By Nick “Child Prodigy” Jones. If you are interested you can read it all for yourself...see the website name above. If this isn’t enough to make you start accumulating American Silver Eagles, I don’t know what will be. Please check out my website, I think you will like the plan.
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Contributor's Note
This information is just intended to wake you up, not to scare you into a depression. We are living in challenging times. Our dollars appear to be losing their value by the month. It's time for you to take this seriously. My answer is a Silver Snowball that will grow when you start it rolling.
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