posted on May, 12 2011 @ 01:09 PM
Originally posted by bozzchem
I wouldn't pay too much attention to silver going "up" or "down" when compared to fiat currencies. The purchase of silver and gold is basically
trading paper for metals that have been real money for thousands of years.
TPTB can print all the paper they want but the amount of silver and gold is finite so will eventually become the real money as has been historically
I'm a complete n00b at finance, but I did some reading as I saw the dollar begin to circle the drain, and one of the best videos I watched was called
Money As Debt. It explained about fiat currency and how precious metals keep a fairly consistent value. I don't know how accurate this is, but
someone said that a silver dime bought a gallon of gas in the 60s, and it still buys a gallon of gas today. People don't understand that point you
made about the fiat currencies being what goes up and down, not real value of goods and services.
I can't buy it in significant quantities (and our 401k won't allow us to convert anything in metals, only mining co.'s, stocks and bonds), but
whenever I can spare the cash I buy a few ounces of silver bars. And I've learned not to put them in any bank deposit box either, since those are
vulnerable to government confiscation. I'm more worried about being robbed by the Feds than common burglers.