My daughter enrolled in a weekly seminar to learn more about money. It is several weeks in length and she’s about half way through.
Today she stopped by saying the lesson last night was a warning not to buy gold and silver. The instructor gave several examples of crisis to support his advice. One was 9/11, saying the victims needed food, medical help, and lots of other things, then saying not one requested gold or silver.
I said if I were taking that course I would request a refund and not return. I almost went straight up and turned left as I listened to her report which I considered bad advice, bordering on propaganda.
There’s nothing about gold or silver that gives one food clothing, shelter and medical help. It’s simply a hard metal to be used as a medium of exchange for the things the individual wants or needs, in the market place. The absurdity of advice not to acquire it, because you can’t eat it nor drink it and it can’t keep you warm, staggers my imagination.
The notion it’s foolish to have silver and gold on hand as a hedge when and if there is a crisis of the paper dollar tanking, is so farfetched it borders on stupidity.
If we reach a stage in this current economic crisis when the paper dollar has completely lost any value and totally impotent, I daresay a silver dime would probably buy a loaf of bread.
Hard money per se has no particular Universal Principle attached to it, which I’m aware of. It’s something which has value or no value. And for those interested in understanding the difference in principles and value judgments, I suggest you go back and read my article on those two subjects.
We as human beings live our lives according to values, which are always changing. And we usually value money, when we have it. Conversely, at the point we give it to another in exchange for something else, at that moment we devalued it. In other words when you hand over a dollar for a cup of coffee, you devalued the dollar, because the cup of coffee was more valuable than the dollar to you at that moment.
Therefore, money, whether its paper, copper, zinc, gold or silver is something we work for, seek to acquire because we value it to acquire other things in life.
Currently, there is a lot in the news about the price of gold rising because the paper dollar is on a downhill trek of devaluation. If it reaches in the mind, will and emotions of human beings, of total devaluation no one will accept it as a medium of exchange for something else. However throughout history gold and silver has always been acceptable as a medium of exchange.
All I’m saying is, if if if, the value of the paper dollar continues in its current direction of devaluation it will crash. But there’s a possibility it will revive and rise again.
Seems to me it was not very long ago that the American paper dollar was highly valued around the world and a desirable medium of exchange. Now other countries are grumbling about it and want it replaced with a global currency. And appears to me after that G-20 groupy meeting, I don’t hear anything coming out of the mouths from the powers at be in Washington, that they oppose it. If they are in opposition, it’s not being made public.
Who really knows what is going to happen in the future? Or when. But common sense and history teaches us a few things if we only stop and think for a moment.
I’m not an economist, nor a politician, but an ordinary person, living in extraordinary times. I grew up in the last Great Depression.
The stock market crashed and gold was removed from the backing of the paper dollar during that period of the thirties. There are lessons to be learned from that period in our history.
To make myself clear, I do not write articles about money on my blog site to advise anyone what to do. I simply express my opinion and sometimes furnish bits of information from things I have learned and experienced.
I believe in freedom, and because it is self-responsibility and self control, no more and no less than just that, it’s my personal opinion, it enhances our responsibility the more information we acquire about anything.
Today the largest real estate company in history filed bankruptcy. Because thousands have lost their jobs, and thousands have lost their homes, the common denominator is money.
Many years back I heard someone say the last taboo in conversation was not sex, but money. And I daresay growing up I heard little conversation about money. People who had it didn’t want to talk about it and those who did not have it didn’t want to talk about it.
Times have changed and so has conversation about money. Nowadays it’s the topic of conversation. Yesterday was income tax-filing day and the conversation was about money. The Tea Party protest yesterday was about money. Bailouts, taxes, prices and etc., are all about money.
In this connection, if your name is Bennet and you ain’t in it, if you are not listening, and reading and thinking about this current event, I remind you, ignorance is not bliss.
It was Yoga Berra who said, “If you come to a fork in the road, take it.”
Disraeli said, “To tax the community for the advantage of a class is not protection, it is plunder”
LET FREEDOM RING
The Freedom Lady