Posted by Traditional Farmer on March 31, 2014 at 04:51:20 from (67.237.187.86):
In Reply to: OT--GOLD Investment? posted by Jiles on March 30, 2014 at 22:01:28:
Well if you're holding Federal Reserve Notes/dollars also mistakenly called US Dollars you are holding the currency of a country thats 17 trillion$ in debt and unfunded liabilities between 50 and 80 Trillion$. In 1913 when the Federal Reserve was created you could take 20 of their $1 notes to a bank and get a ounce Gold in the form of a $20 Gold piece,today it takes over $1400 of them to buy an American Eagle 1 oz Gold Coin.So basically the paper currency has lost around 98% of its value against Gold.Gold has been the standard currency of exchange against what all others have been measured since the beginnig of recorded human history,all others except Silver have fallen by the wayside,all paper currencies have eventually failed and worse yet the Dollar isn't even physical paper anymore its mostly images on a computer screen.So its your choice which you belive you should own.If you do decide to buy Gold I suggest Monex and Schiff Metals both have low premiums and have been honest in the dealings I've had with them.
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