The American Empire in a Changing World


Thursday, September 27, 2012

''The Currency Experiment Has Failed''

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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