Something that could become a reality in the near future due to the dollar losing it’s value is going to the store and purchasing a gallon of milk with 1/10th ounce of silver, or a pre- 1965 dime. Kind of hard to imagine but some states are actually trying to make this happen in an advance of any type of dollar collapse.
In the past people used gold and silver as money, in fact between 1795 and 1933, gold, silver and paper dollars were used concurrently for spending. Quarters and dimes were composed of silver until 1965. When President Nixon removed the backing of the dollar with gold in 1971 it removed any semblance of dollar and precious metal parity; gold and silver were no longer considered money.
Since 1971 we have been living inside of a fiat currency system. As a result of fear of a fiat currency failure, some states have been allowing people to use gold and silver for spending in order to hold onto the value of currency since the dollar has been taking a plunge.
One avenue that can be used in order to use gold and silver for currency is James Turks Gold Money. However, owning your own physical gold and silver is your best option. A good reason why this is your best option is you can store the physical gold yourself and there is no risk involved due to bankruptcy or government shutdown.
A law was passed in Utah recently to allow the use of US minted gold and silver for trading of goods and services. Utah citizens can choose to accept and use gold and silver or not to. Capital gains taxes were removed in Utah (for precious metals) but they still take place at the federal government level. One of Utah’s republican senators is putting forth a bill to congress regarding the recently passed law and twelve other states have taken an interest in passing the same law.
In New Hampshire and Philadelphia an exchange system has been set up in some of their towns which allow people to use gold and silver in several of their local businesses. Some companies have sold pre-1965 silver coins in order for them to be used for bartering.
People throughout the country want to see gold and silver become real money that we can use again. This would allow people to put their money into something that is considered safe and will always have value unlike the dollar that has lost 95% of its value since 1913. Gold, silver, bars and ingots are going to increase in value as the momentum continues to build for it to be used as real money again. Now would be a good time for you to start your own portfolio in gold and silver.
Recent Comments