From Financial Sense
By Julian Phillips
''During the 42 years of the currency experiment with no gold or silver
standing behind currencies we have seen the gold price multiply from
$35 to $1,770. That's over 50 times in 42 years. And there's still much
more to come it seems, with the assistance of governments.
If
one was fortunate to get out at anywhere above $800 back in the eighties
and back in at $300 in the next twenty years that number goes up to 64
times $35. That's what solid long-term funds should have done, to
maximize profits. (It is far better than trading and far less
nerve-racking.)
But don't look at that as a profit figure. That's
not the point we are making here. Look at it as a statement on the
failure of the currency experiment and currencies' ability to measure
value. Now translate that into the value of savings over that period –a
harsh reality indeed!''
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