Gold and Silver as a Substitute for Cash

The state of Virginia presented House Joint Resolution Number 557 on January 12, 2011 to put together a group to learn whether the Commonwealth should implement a different type of currency in case the Federal Reserve/dollar was to collapse.

This morning I read the proposal that was put together and I was astonished. I believe that this proposal was a brave and clever move; something that we should all bear in mind for ourselves. The text sites a Supreme Court ruling that the states can protect their citizens well being, land, and lives. Which comprises of the preservation of a sufficient method of governmental finance and a good and healthy private economy. This cannot be kept up if a sound currency is lacking.

The text from there says that the present financial system under the authority of the Federal Reserve is in a continuous obvious struggle and that if we had gold and silver as an option for currency it’s people would be protected from financial disasters, hyperinflation, and catastrophes. Additionally they validate the right of every state to use another means of currency through case law.

This is big. Virginia and other states including South Carolina, Georgia, New Hampshire, Montana and Indiana are looking for ways to guard against the collapse of the dollar and the calamities caused by the Federal Reserve’s printing money. It seems as though Government officials are starting to take action because they foresee the collapse of the dollar in the sometime in the future. Since the states are finding ways to protect themselves it only seems logical that US citizens do the same.

Citizens who privately own gold and silver are holding real money, which is another form of currency that has “real” value. Gold and silver were always considered real money until the Fed decided to try their little fiat currency experiment which by the way has devalued our dollar by more than 80% in 40 years!  Buying silver and gold coins is a great way to expand your portfolio and provide safety to your paper assets, something that central banks around the world are doing in record numbers. If the US dollar were to collapse, owning gold and silver will give you ultimate protection and possibly be your saving grace, it helped the people of Zimbabwe that owned it when their currency was declared dead in 2009.