Back in 1913 when the Federal Reserve stated printing Federal Reserve Notes which are mistakenly called Greenbacks or Dollars these days, a person could take 20 of the Notes into a bank and you could get 1 ounce of Gold for the 20 notes.Today it takes 1300+ of the Federal Reserve Notes to buy a 1 ounce Golden Eagle or comparable coin.That means the Federal Reserve Notes in 100 years have lost 98% of their value against Gold.So which has been the better to own over the long haul?Even in 1971 the offical price of Gold was only $35 so the so called US Dollar has declined in value at a very fast rate.In 07 Gold was around $700 an ounce and the Stock market was about where it is today while Gold has about doubled in value even with the latest drop.Hope you got a wood stove at least paper currency can used to start a fire but it makes lousy toilet paper.Or worse yet digital Dollars like is in the bank where they can be just wiped out like in Cyprus.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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