Musings of Erin

In our society, everyone needs money. Every now and then, I entertain the thought of creating a self-reliant community without the need for money, but then I realize that: a) I probably couldn’t find enough people to play with me and b) I’d still have to pay property tax, therefore we couldn’t be self-reliant. *Sigh*

US Money scares me. Before 1971, dollar bills and coins were based on the amount of gold the US held in reserves. Unfortunately, dollars aren’t based completely on gold anymore — they started printing money to supply a war, to pay bills, and so forth.

So now we have a bunch of money floating around that isn’t actually worth much. The value of a dollar isn’t what it used to be (based on gold!), and the value is dropping significantly - and quick!

According to an article by Ron Paul,

“In 1934 a dollar was worth 1/20th of an ounce of gold; $20 bought an ounce of gold. Today a dollar is worth 1/600th of an ounce of gold, meaning it takes $600 to buy one ounce of gold.”

Yikes!

Of course, we could buy precious metals to stockpile our own personal cash reserves. Some companies, like Monex Deposit Company, allow you to buy silver and other precious metals for quick home delivery. The demand for silver outweighs production - so even if you’re interested in gold, silver may be a better commodity for you at the moment.

I don’t personally have any experience with buying precious metals - do you? It sounds like an interesting solution to a frightening problem.