Saving for vacation, retirement, or simply for a rainy day can be hard enough on its own… yet some people believe the US Dollar itself makes it difficult for savers to get ahead over time.
From the pair.offshore blog:
Many central banks around the world hold dollars as a reserve currency. Under the Bretton Woods System where the US agreed to exchange $35 for 1 oz of gold, people thought holding dollars was “as good as gold”. When the US removed the gold backing it was like the table cloth trick, inertia meant that everything stayed the way it was.
What do you think? Does this sound like a fair monetary system to you?
Paper US Dollars aren’t actually rare; they are just printed out of the thin air by bureaucrats at the Federal Reserve.
And more are always printed over time. There’s no “cap” on the amount of Dollars that might float around in our economy at some point in the future.
Since 1999, the dollar has fallen in value from about 123 mg of gold to less than 21 mg today – a drop of more than 80%. Overall, from 1900 to 2010, the dollar fell from 1500 mg to 25 mg, losing over 98% of its purchasing power. Penny candy now costs 50 cents. The “Five and Dime” is now the Dollar Store.
So the Dollar clearly loses value over time. Then there’s gold, which doesn’t inflate away as dollars do—the amount of gold on the planet is finite, and it’s hard to mine for new gold… and when you do, there’s no guarantee you will actually find an ore body and come across viable gold.
This keeps gold rare, making it a trusted form of savings for more than 5,000 years. Today, more than one million users in 150 countries use the Goldmoney platform to spend, save, and even earn in real gold—instead of in US Dollars, which are constantly losing value over a long term time scale.
Learn more about the service and: Open Free GoldMoney Holding Today
My objective is to share with you my views on gold, which in recent decades has become one of the world’s most misunderstood asset classes. This low level of knowledge about gold creates a wonderful opportunity and competitive edge to everyone who truly understands gold and money.
