Post by Admin on Feb 17, 2016 8:08:10 GMT
We know that gold has a 5,000 year history as real money, which is all good, and paper money, which is merely a substitute for gold, has 150 year history, which is all bad. Every single paper currency (fiat currency) has failed, without exception. Bitcoin is just another gold substitute.
So why are China and Russia stockpiling gold? In fact all the countries are buying as much gold as they can get their hands on now as the US dollar nears final collapse.
Even Alan Greenspan now admits that gold is stronger than the US$. Why have the purchases of American Silver Eagles and Canadian gold Maple Leafs skyrocketed? Canada just became North America’s first offshore renminbi hub and there is talk that China wants the renminbi to be the next world currency, replacing the US$, and possibly backed by 20% gold.
Sberbank, Russia’s largest lender, will be the first bank in the country to start issuing credit guarantees denominated in Chinese yuan.
When one observes the strengthening relationships between Brazil, Russia, India, and China (the BRIC countries) and the sidelining of the US$, Russia’s relationships with Iran and other oil producers who no longer wish to accept Petrodollars (previously those who refused to sell their oil for US$ were simply bombed by the US), one should remember that these other countries have also been printing money like confetti, and that they also face hyperinflation. The economies of most these countries are not in much better shape than that of the US, in fact.
Let’s let history tell us what happens to fiat currencies. No country is magically exempt.
Modern Fiat Currency Collapses
1922 Austria – inflation up to 134%
1932 Argentina – 8th largest economy before collapse.
1944 Greece – prices doubles every 15 hours.
1946 Hungary – 4.19 quintillion % inflation – doubled every 15 hours.
1984 Israel – 445%
1990 Peru – 397% per month.
1994 Mexico – Collapsed.
1994 Yugoslavia – 5 X 1015 %
1995 Ukraine 1400% per month.
1997 Thailand – Collapsed.
1998 Russia – Collapsed – similar to Germany.
2008 Zimbabwe – 11,250,000% in highest month.
Since 1932, gold has outperformed cash by more than 4,300%, yet between 1913 and 2005, the US$ lost 97% of its value. And one can’t outwork inflation. Even when a husband and wife each hold down two jobs, they find themselves sinking deeper and deeper into debt. Because gold maintains its value, it is insurance against inflation and a collapsing fiat currency and a way to hold on to one’s wealth.
The new international gold money is gold. But not just any gold, since bullion can be counterfeited – the Chinese are covering tungsten with gold and silver now and selling it as the real thing – but gold that can be trusted and that is affordable to the man in the street. Karatbars embed one gram of currency grade,
London Bullion Market (LBMA) gold into a credit card sized card. This is the new world currency. China may back their currency with 20% gold (if you believe that to be so).
Just as one would trade four quarters for a dollar, people are now trading their depreciating paper money, which has value only in the perceptions and beliefs of people (until they stop believing and a collapse ensues, as witnessed above) for real money – gold money. It’s like moving your money from the pocket with a hole in it into a secure vault.
Article , Quoted Saying By : – Steve Forbes, Forbes Magazine
Gold is constant. It’s like the North Star.”
Connect with me through facebook or my blog - Click Here>>>
So why are China and Russia stockpiling gold? In fact all the countries are buying as much gold as they can get their hands on now as the US dollar nears final collapse.
Even Alan Greenspan now admits that gold is stronger than the US$. Why have the purchases of American Silver Eagles and Canadian gold Maple Leafs skyrocketed? Canada just became North America’s first offshore renminbi hub and there is talk that China wants the renminbi to be the next world currency, replacing the US$, and possibly backed by 20% gold.
Sberbank, Russia’s largest lender, will be the first bank in the country to start issuing credit guarantees denominated in Chinese yuan.
When one observes the strengthening relationships between Brazil, Russia, India, and China (the BRIC countries) and the sidelining of the US$, Russia’s relationships with Iran and other oil producers who no longer wish to accept Petrodollars (previously those who refused to sell their oil for US$ were simply bombed by the US), one should remember that these other countries have also been printing money like confetti, and that they also face hyperinflation. The economies of most these countries are not in much better shape than that of the US, in fact.
Let’s let history tell us what happens to fiat currencies. No country is magically exempt.
Modern Fiat Currency Collapses
1922 Austria – inflation up to 134%
1932 Argentina – 8th largest economy before collapse.
1944 Greece – prices doubles every 15 hours.
1946 Hungary – 4.19 quintillion % inflation – doubled every 15 hours.
1984 Israel – 445%
1990 Peru – 397% per month.
1994 Mexico – Collapsed.
1994 Yugoslavia – 5 X 1015 %
1995 Ukraine 1400% per month.
1997 Thailand – Collapsed.
1998 Russia – Collapsed – similar to Germany.
2008 Zimbabwe – 11,250,000% in highest month.
Since 1932, gold has outperformed cash by more than 4,300%, yet between 1913 and 2005, the US$ lost 97% of its value. And one can’t outwork inflation. Even when a husband and wife each hold down two jobs, they find themselves sinking deeper and deeper into debt. Because gold maintains its value, it is insurance against inflation and a collapsing fiat currency and a way to hold on to one’s wealth.
The new international gold money is gold. But not just any gold, since bullion can be counterfeited – the Chinese are covering tungsten with gold and silver now and selling it as the real thing – but gold that can be trusted and that is affordable to the man in the street. Karatbars embed one gram of currency grade,
London Bullion Market (LBMA) gold into a credit card sized card. This is the new world currency. China may back their currency with 20% gold (if you believe that to be so).
Just as one would trade four quarters for a dollar, people are now trading their depreciating paper money, which has value only in the perceptions and beliefs of people (until they stop believing and a collapse ensues, as witnessed above) for real money – gold money. It’s like moving your money from the pocket with a hole in it into a secure vault.
Article , Quoted Saying By : – Steve Forbes, Forbes Magazine
Gold is constant. It’s like the North Star.”
Connect with me through facebook or my blog - Click Here>>>