Russia confirms that they are launching a BRICS currency backed by #gold. The US dollar is in trouble
(twitter.com)
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In all honesty the dollar collapsed sometime ago. It collapsed when we first went off the true gold standard to finance WWI. It has continued its collapse notably since 1971, where 1 dollar today is worth about .13 cents of 1971 purchasing power. Today’s dollar is worth about .03 cents of 1913 purchasing power (Thank you Fed Reserve). Gold over time has held it’s purchasing power pretty consistently. 20 ounces of gold would buy you a new car in the late 1920’s. That same 20 ounces will buy you a car today. 1 oz would buy you a tailored suit of clothes in the 1920’s. That 1 oz will do the same today. Regardless of the dollar collapse, history does not seem to indicate those holding gold will become rich overnight, or even over 50 years. It does indicate gold/silver will hold value over time while the dollar completes it death spiral into being inferior toilet paper. Now if you are paying off a fixed rate mortgage, holding gold will make you very happy.
Holding physical Gold and Silver is not about getting rich or even investing. It is for long term preservation of wealth. That’s why in your examples the same oz’s buy the same goods but the ratio of paper dollars do not. The gold held its value while the paper lost 98% of its value. Derivatives are for investing. At least until those too, lose their value. Anything backed by paper, stocks, bonds, etc. is a derivative and when the SHTF all their combined value falls into gold.
https://youtu.be/6-kAz2dnN5Y