Quote:
Originally Posted by Directly
did the decline of the Roman empire begin when they removed the silver from their coins, ring a bell?
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Sure. The gradual removal of silver from their coins played a large part in their decline. Their own people didn't want their coins. Shows you how valuable and important silver really is, huh? Just like the removal of silver in US coins plays a large part in the decline of the United States.
In 1964, gas was $.30 a gallon. I could take a Kennedy half and a Roosevelt dime and buy two gallons. Today, a gallon of gas is about $2.20 here locally. However, that same Kennedy half and Roosevelt dime are worth $8.46 because of their silver content. I could sell them for that amount and buy nearly 4 gallons a of gas. Which was worth more / held their value in the long run? Fiat currency or silver? The fiat currency lost its purchasing power. The silver gained in value.
Here's my point. If I gave you the choice of a $20 bill or an ounce of silver and told you that you could do anything you want with them, which would you choose? You'd be a fool not to choose the $20 bill. But if I gave you the same choice and told you that whichever you choose that you had to hold on to for 10 years, then which would you choose? You'd be a fool not to choose the silver. It will be worth more than the $20 bill in 10 years.
Please forgive any spelling or grammatical errors. I'm typing this rather quickly from my cell phone.