In 1971 President Nixon took the US dollar off the gold standard, which means that the US dollar was no longer exchangeable for gold, and central banks such as the Federal Reserve could print as much money as they wanted, which is pretty much what the Fed is doing, except they used a nice term called quantitative easing.
After all, everybody knows what happens when we try to print money. We get thrown in jail for counterfeiting.
Since the government is printing as much money as it wants to “tackle” the recession, where does all that money go? One of the places is the stock market, in order to keep the illusion that the stock market is doing well.
Don’t forget that the baby boomers will start to withdraw their funds from their portfolios as mandated by law. Since the baby boomers far outnumber the young people, what else can the stock market do but go down? All that money will then start pouring into gold, silver, oil and other commodities. They will all start to rise in price and if you want to protect yourself against such inflation, you’ll just have to buy gold and silver while its still low.
Protect your wealth from the predatory practices of the Fed, the Treasury and the mega rich manipulating the world economy.
If you’ve been keeping up with world, especially Chinese news, you might have read about their complaints. Now they do not trust the US dollar and are trying their best to get out of it by buying up commodities, including gold and silver. Luckily for you and me, silver is still a bargain.
Silver is consumed in the electronics industry on a daily basis and thus, stock piles of silver are dwindling. Common economics 101 would tell you that demand rising and supply falling could only mean prices rising. Get it while its still less than $20.
First, you can get your silver fix from a reputable mint such as the Royal Canadian Mint, whose reputation is of severe adherence to quality and purity.
Secondly, you might want to get it in ounces for convenience, since the spot price is denoted in ounces. So you can see the price immediately. If you get silver jewelry or such, there would be the unknown factor or perhaps it could have been mixed with another metal.
Thirdly, not to put all your eggs in one basket and basically to have reserves to meet your routine expenses, you can set aside about 10-15% of your cash to invest in silver.