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You don't need to have a degree in economics to figure out what's happening to the currency in this country. Let me give to one example:
In 1964, when I was in college, a dime was worth ten cents. A roll of 50 dimes was worth $5.00. Dimes up to 1964 were made out of an alloy of copper & silver: 10% copper & 90% silver. Silver is classified as 'precious metal' along with gold, platinum, & palladium. These metals are rare & have special properties that give them what is known as 'intrinsic value.'
The same dime today is worth about $1.40 & a roll of 50 of those is worth around $70 depending on where the market is for silver on given day. At the same time as the value of silver has been increasing, the value of the paper dollar has been shrinking. The $24 I had last night before I went to sleep was worth less this morning. But yesterday the market for silver increased by $50/ounce.
Why is paper money declining in value? To quote Voltaire, “Paper money eventually returns to its intrinsic value – zero” While there is a limit as to the amount of silver available in the Earth, there is no limit on how much paper currency the government can print. And paper money has no intrinsic value. As more & more is printed, its value naturally declines toward that zero.
Definition of 'intrinsic': adjective. belonging to a thing by its very nature: the intrinsic value of a gold ring.
A lot of people are interested in silver in certain forms: bars, ingots, medallions, commemorative pieces, etc. But the topic here is why you should be collecting a special type called 'junk silver.' What is junk silver? Basically it is a collective term for previously circulated U.S. fractional currency (dimes, quarters, half dollars) minted before 1965. As these coins are worn & are found in a wide range of conditions, they have no collector or numistatistic value. They are worth only the value of their silver content.
There is a large & growing movement to which I belong that is collecting, amassing & hoarding junk silver. Why do we focus our attention & resources on this area? Because just like what happened in October 1929, the economic bubble that we all live in is going to burst. The after effect of that collapse took 10 years, a Democratic President & a World War to recover from.
So what, you might ask. Recessions happen all the time & we're still here. But the prospect of a total economic collapse as happened in 1929 is not going to be something that you can just ignore, like the 'staglation' during the Carter years. Paper money, stocks, bonds & anything of current value printed on paper may become valueless. So, you might say, the Government can just print more. But as Voltaire said, the more they print, the faster its value goes to zero.
People who are building up stockpiles of silver coins are also known as 'Preppers.' What's a Prepper? A Prepper is someone who is preparing for he coming economic collapse. Paper currency will stop being useful in daily commerce to one extent or another. But silver will not only maintain its value, it will increase in direct proportion to the loss of value of paper currency.
People who were penniless & jobless during the Great Depression depended to a great extent on a barter economy. I have corn, you have rice, we work out a trade that benefits us both & we get to feed our families that day.
Junk silver has a number of positive things going for it. It is instantly recognizable as a thing with historical, real, intrinsic value. It could be used to barter for food, for gasoline, for medical & dental services. Stores & gas stations already exist that will accept junk silver in return for food, gasoline & essential medical services.
I don't have all my assets in junk silver. I have an increasing amount of it, along with vintage gold coins, vintage silver dollars & cash money in the bank as well as a nice monthly income. But I see a stock market bubble of even greater proportion that the 'dot com' bubble. And I see a Federal Government careening out of control, led by manipulators & incompetents. I don't see the near future as being very bright. I hope you see the same thing & take precautions along the lines I mentioned.
In 1964, when I was in college, a dime was worth ten cents. A roll of 50 dimes was worth $5.00. Dimes up to 1964 were made out of an alloy of copper & silver: 10% copper & 90% silver. Silver is classified as 'precious metal' along with gold, platinum, & palladium. These metals are rare & have special properties that give them what is known as 'intrinsic value.'
The same dime today is worth about $1.40 & a roll of 50 of those is worth around $70 depending on where the market is for silver on given day. At the same time as the value of silver has been increasing, the value of the paper dollar has been shrinking. The $24 I had last night before I went to sleep was worth less this morning. But yesterday the market for silver increased by $50/ounce.
Why is paper money declining in value? To quote Voltaire, “Paper money eventually returns to its intrinsic value – zero” While there is a limit as to the amount of silver available in the Earth, there is no limit on how much paper currency the government can print. And paper money has no intrinsic value. As more & more is printed, its value naturally declines toward that zero.
Definition of 'intrinsic': adjective. belonging to a thing by its very nature: the intrinsic value of a gold ring.
A lot of people are interested in silver in certain forms: bars, ingots, medallions, commemorative pieces, etc. But the topic here is why you should be collecting a special type called 'junk silver.' What is junk silver? Basically it is a collective term for previously circulated U.S. fractional currency (dimes, quarters, half dollars) minted before 1965. As these coins are worn & are found in a wide range of conditions, they have no collector or numistatistic value. They are worth only the value of their silver content.
There is a large & growing movement to which I belong that is collecting, amassing & hoarding junk silver. Why do we focus our attention & resources on this area? Because just like what happened in October 1929, the economic bubble that we all live in is going to burst. The after effect of that collapse took 10 years, a Democratic President & a World War to recover from.
So what, you might ask. Recessions happen all the time & we're still here. But the prospect of a total economic collapse as happened in 1929 is not going to be something that you can just ignore, like the 'staglation' during the Carter years. Paper money, stocks, bonds & anything of current value printed on paper may become valueless. So, you might say, the Government can just print more. But as Voltaire said, the more they print, the faster its value goes to zero.
People who are building up stockpiles of silver coins are also known as 'Preppers.' What's a Prepper? A Prepper is someone who is preparing for he coming economic collapse. Paper currency will stop being useful in daily commerce to one extent or another. But silver will not only maintain its value, it will increase in direct proportion to the loss of value of paper currency.
People who were penniless & jobless during the Great Depression depended to a great extent on a barter economy. I have corn, you have rice, we work out a trade that benefits us both & we get to feed our families that day.
Junk silver has a number of positive things going for it. It is instantly recognizable as a thing with historical, real, intrinsic value. It could be used to barter for food, for gasoline, for medical & dental services. Stores & gas stations already exist that will accept junk silver in return for food, gasoline & essential medical services.
I don't have all my assets in junk silver. I have an increasing amount of it, along with vintage gold coins, vintage silver dollars & cash money in the bank as well as a nice monthly income. But I see a stock market bubble of even greater proportion that the 'dot com' bubble. And I see a Federal Government careening out of control, led by manipulators & incompetents. I don't see the near future as being very bright. I hope you see the same thing & take precautions along the lines I mentioned.
