Go For The GOLD!
Written By: By Rebecca Dunham | Posted: Tuesday, May 22nd, 2018
Gold, it's beautiful and valuable. Sought after by individuals and governments alike. It is used as jewelry and currency. It is the lure of treasure hunters. On the scale of investment risks, it is a lower risk than even our cash. Why?
Though the dollar is our current method of trading for goods and services, its inherent worth is no more than the paper upon which it's printed. Prior to 1971, the American dollar was the basis for every major currency in the world because our dollar was backed by gold. When President Nixon took us off the gold standard, our dollar became fiat. That means that it was worth what the printed increment read because the government said that was what it was worth.
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