Will Gold and Silver Ever Be Used As Money In the United States Again?
I have written several articles about how Gold and Silver have gained allot of value over the last 10 years and the US Dollar has lost allot of value. Right now Federal Reserve Notes are not backed by anything. Gold and Silver were mostly used as money when our country was first founded. The U.S. Constitution in Article I, Section 10 even says that no state shall make anything, but gold and silver coin legal tender for the payment of debts. On top of that gold and silver were widely used for thousands of years in different ancient civilizations. Will they ever come back into use as money?
I very much doubt that there is enough Gold or Silver in the world combined to substitute for all the paper currency in circulation in the world that has been issued and is not covered by any form of real assets security but is just a paper promise to pay.
All real assets that have been used as security could end up being owned by the Banks or Governments if currencies were devalued and wages also and that would mean the indebted could not pay their debts off.
This is the true risk that we are all likely to suffer from and the ownership of all real assets plus gold and silver will be in the hands of the few as they are owed so much by the many who will not be able to pay off the indebtedness.
Watch out for the Populace Spring once they all realise how the system will shaft them and that will make the Arab Spring and OWS look like a summer picnic or maybe I am just being cynical or a conspiracy theory nut but for sure the fan is there and is just waiting to be hit as reality hits home.
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