Yesterday, we showed you 15 Fundamental Reasons to Own Gold. Today, we bring you a summary from a great article found at Business Insider regarding 25 Reasons to Buy Gold and Dump Dollars. It’s a long and scary read, but one that is a must to become further educated on why you need to start your own gold-backed savings account for free at the KB gold private global currency exchange. Here are a few highlights of their talking points. Read the article for full details:
- Debt-based fiat money, which implies never ending debt and constant inflation, is not a sound, stable or sustainable monetary system.
- Like a commodity, supply and demand is the putative basis for the value of money in the field of economics,but many economists and most investors know very little about the underlying structure of the monetary system.
- A debt-based fiat money system,together with the monetary policies necessary to support it,eventually causes debt levels to grow to unsustainable levels, resulting in unsustainable economic aberrations,such as the dot-com and housing bubbles, and producing the boom and bust cycle of credit expansion and contraction, euphemistically called the “business cycle”.
- When a transaction for goods takes place using debt-based fiat money one party holds goods and the other holds a note,which is a financial system asset of the holder but a liability of the issuing government or central bank,i.e.,money is a liability,not an asset,of the issuer.
- Fiat currencies,which have absolutely no tangible,physical backing or real,lasting value,depend solely and totally on the confidence of their users,exactly like a criminal confidence game.
- The term rent seeking refers to the extraction of economic value (“rent”) through the manipulation of the social or political environment,as opposed to creating value from genuine economic inputs.
- As a currency, gold settles transactions in an absolute sense.
- Like all other debt-based fiat currencies,the U.S. dollar is dysfunctional as a store of value because it is no longer redeemable,because of the inflationary nature of the monetary system itself,and because both the federal government and the Federal Reserve lack monetary discipline.
- While savvy investors may be able to profit from inflation,the vast majority of people are simply impoverished by stagflation.
- From the standpoint of ordinary workers,currency debasement is like a breach of contract where the agreement to work for a wage is violated by altering the value of the wage retroactively.
- As Americans became poorer over the last few decades,they also became more dependent on the government.
- With one exception,the banking industry operates in the same way as an organized crime syndicate.
- When governments pursue ambitions financed by debt,such as foreign wars or bank bailouts, against the will of their peoples, they financially enslave their citizens.
- Central banking and debt-based fiat money require central planning of the economy, which is not only ineffective but diametrically opposed to free markets, individual economic freedom, and democracy.
- Thanks to the Federal Reserve, extreme centralization of wealth and financial power is now a reality in the United States.
- As a point of comparison, the services of bankers cannot actually be worth more to society, in terms of real wealth creation, than the services of those who build businesses, produce real goods and create jobs, but the concept of value is distorted by the nature of the financial system.
- Physical gold provides a way to preserve wealth outside of the inflationary currencies of the debt swamped U.S., European countries and Japan, to name a few.
Seriously… look around you. Can you honestly argue with any of the above points? You have to really go back and read the full article for details. It’s that important. If you’re not involved in the KB Gold buying opportunity, what are you waiting for?!? Gold prices to go DOWN?!?! Can it be more obvious that you need to protect yourself from financial crisis by buying gold right now through our partnership with KB Gold.