This whole farce that is the US government shutdown is a reminder of why I buy Gold and Silver. Our government is a corrupt, bureaucratic and most notably a bankrupt mess. According to our governments own admission, we currently have about $20,600,000,000,000 ($20.6 Trillion) in debt outstanding. The numbers have gotten so big and mind boggling that they don't really even illicit a reaction from the markets or media anymore.
“We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much.”
― Ronald Reagan
Regardless of who or what party is in the white house, this number will continue to grow at an exponential rate.
These are just on the "on-balance-sheet" obligations. There are over $100 Trillion ($100,000,000,000,000) in "entitlements" that no government shutdown stops the clock on. They don't even count these obligations in the debt numbers yet.
If you have never had a chance to happen by http://www.usdebtclock.org/ its an interesting site to take a look at. They have a relatively accurate debt clock counter where you can watch the future prosperity of our children ticking away.
And Greshams Law cares not about your politically party. The overspending of the US government is going to continue to eat away at the value of the US fiat dollar (all fiat currencies really).
“Paper money eventually returns to its intrinsic value – zero.” (Voltaire, 1694-1778 )
Since 1913 when the US Federal Reserve was created, the US Dollar has lost almost 95% of its purchasing power. This is tragic and immoral but what really concerns me is the day it starts dropping to 0. This scenario has played out over and over again in history. If you've not see it before, here is a list of 609 fiat currencies that have failed in the past 500 or so years and the average lifespan of those currencies is about 38 years. The US dollar, not backed by precious metals since Nixon closed the Gold window in 1971, is on year 47. How much longer are you willing to bet this is going to last? By the way, included in that list of 609 currencies, is the first US fiat currency the United States Continental which also went to 0 due to overspending!.
How much longer do you really think the US dollar in its present form is going to last? When it starts to really drop, do you think people are going to rush into Bitcoin or Steem dollars for protection? Maybe, but there are an infinite number of Cryptos that can be invented and while I'm invested in the Crypto space, I'm not betting the farm on it.
Great article! The value of the US dollar continues to decline rapidly despite the record high stock market. Although gold may be way too expensive as an investment for some people, at just around $17 per ounce, anyone can afford to invest in physical silver.
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Thank you @sunshinegold welcome to Steemit.
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The next Bitcoin bubble will pop the dollar!
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And, a trillion is a million million.
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I share your opinion on silver.
But I will play devil's advocate here, just for something to think about.
Bankers are ruling the world. Fact. They hate savings. They want everyone to always buy on credit so they can get their share. They want everyone to buy them one house when you buys yourself a house. That's why we have "war on cash"
There will soon be no physical cash allowed. Just bank account with virtual cash. Once cash is eliminated, they can drop negative rates so much, that everyone will be forced to always 'cash out' buy something so your 'money' in bank account doesn't get eroded to much. Politicians will support this stealing with both hands, they will be feed excuse: 'if everyone use his/her income for buying and not for saving, economy will prosper'.
Having silver/gold, having something outside of this criminal banking system means you are independent. Bank(st)ers, will of course not like this. Politicians do what their lords tells them. If bankers decide, law will be passed that possession of silver/gold may be worse than say possession of hard drugs and punishable by many years of prison.
It is the greed of super wealthy, that wants every drop of our blood. Yes, you will be bale to barter say silver coins with others directly. But if they pass the law that silver/gold is highly controlled substance.... just something to think about. We are going into era, where every transaction we will make will be visible. You will not be allowed to do anything on the side, anything outside of approved system.
That being said, I have my rounds of silver, but I worry they may become useless in the future :-(
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It is possible to ban all cash. I think it will lead to riots but it is possible. Gold and Silver will never go to 0 regardless of the games being played in the monetary system. Look East...China is hoarding Gold and Silver now and they will lead the 21st Century once the reset comes. The US and Europe are turning into screaming children.
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Yes, I agree, gold and silver will never go to 0 and they are the ultimate form of money. What I'm afraid, is that gold will only be for 'higher levels' say trades and disputes between countries. But we, peasants, regular persons, we may not be allowed to be outside of the trap they are setting. I'm not saying it will happen or I would not have a physical. But reading between the lines, watching and seeing what it is going on, (Sweden is already almost cashless) I have my doubts and fears. And I hope I'm wrong.
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Great information. I am right there with you brother. Need to keep stacking that silver.
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excellent post @matthewwarn
one feel comfortable when other's states are corrupt as well so you don't feel alone xD
btw: the metal you buy/ invest where is holding? just curious, is a "centralizated place?"
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Lots of places, some even in Australia actually with a custodian program via the Perth Mint. Holding some out of the US jurisdiction is important for me.
https://www.perthmint.com/storage/depository-program.html
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interesting, you open a new front for me to think about.
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i just saw this Synthestech
Web: https://ico.synthestech.com/
Whitepaper: https://synthestech.com/White_Paper_en.pdf
it seems the announcement of a hair grows ... or the water in wine xD
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lol...that is a scam...holy shit
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Definitely not betting the farm on crypto when Weimer level hyperinflation throws it's K.O. blow to fiat.
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Stack it up! Every time you get those fed notes stack a bit of metals! It's fascinating watching people's reactions to the truth of the Federal reserve and the dollar devaluation, all you need to show them is from '71 to now. I'd love if your president would open up the gold vaults and see what's there, here in Canada we have officially no gold reserve, and I have a suspicion our gold went south to the US, and not to China as some have speculated.
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When I heard that Canada sold off all its gold to 0 ounces I actually got mad...and I'm not even Canadian. But its just a reminder of how messed up, corrupt and upside down the whole world has become. I'm guess the US doesn't have all the gold it says it has either but we will never know. I'm sure those assholes "leased" it out a long time ago.
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I own more PM than the Central Bank of Canada, what a concept.
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Oh I'm sure it's leased out, to cover the mostly one sided trades. But it's likely still on US soil. But yeah, we've been put into position to be dependent on the US and China. Luckily there's so many resources here, that we could be the richest per capita nation on the planet, so if we needed to access below ground gold, I'm sure we could.
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By not having any gold it makes us and our allies dependent on the petrodollar and everything that entails keeping it going.
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You mean like war, violence and enslavement of free people...
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Exactly!
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This is true. The petrodollar has become the vital crutch, it will get ugly when it fails!
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I think it gets ugly when it succeeds too unless you are lucky.
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The only part of the debtclock.org website is in the bottem right-hand corner showing the adjusted price of Gold & Silver when calculated against the outstanding national debt.............Keep stacking......Go get ya some !!!!!!!!!
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Wow, interesting facts. Thank you for sharing. I like the quote from Voltaire. Seems to be a clever man with this great prediction hundreds of years ago. He is 100% correct.
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