What The Rising Price Of Gold Means To You and Your Financial Future
The price of gold bullion has been steadily rising for the past 40 years and the seeds for this continual and continued rise were planted in 1971 when President Nixon took the American economy off the Gold Standard.
What does this mean for you and your financial future? Plenty! And the more you understand what is causing this rise in price the more prepared you will be to survive what lies ahead. But first, a little history will explain the start of this process and its implications to you.
In 1971, President Nixon, unilaterally and without the approval of Congress severed the relationship between the price of gold and the US dollar. At that time, the price of gold was then set at $ 35 an ounce. From that point on gold prices in the world have been rising, reaching a high of almost $ 1,961 on September 6, 2011. Although the current price of gold is less than that historic and all-time high the long term trend is still clearly on the increase and some experts are predicting that it will hit anywhere between $ 5,000 and $ 6,000 an ounce within 5 years.
In the history of the world there has never been anything else that has held its value in both good and bad times, in both certain and uncertain economic environments.
And yet, the value of all other paper or fiat currencies around the world have declined over time and in some cases to practically near zero.
How can you protect yourself and your financial assets in turbulent times like the ones we currently live in?
Quite simply, by buying and holding gold now. Look at what is happening to the devalued American dollar, the European euro, and other currencies around the world. Massive deficits are now the norm as countries around the world struggle to pay their bills. Government bailouts of corporations in the financial, banking, oil, car, and airline industries have rendered them insolvent themselves. Major household names such as General Motors American Airlines, US Airlines, Goldman Sachs, AIG and others have either already gone bankrupt or are in the process of going bankrupt and have already received or are seeking more government money to survive. And who is the ultimate source of these funds, but the taxpayer itself?
The US government has already injected over $ 15 trillion into the US economy to prop up these failing giants with little success. The European Common Market, the Euro and their economies are faltering and falling further into a financial abyss. Look at Greece, Spain, Italy, Portugal and Ireland. They will be the next dominoes to fall as the economic problems of the world get re-circulated across global borders.
The European economies, mostly Germany and France have injected over 200 Billion Euros into these failing economies without any effect to the point that both these former powerhouses are now feeling the financial pressure themselves..
The US dollar is being devalued. The major credit rating agencies have recently downgraded the creditworthiness of the US government to the lowest point in its history. The President has gone to Congress to plead for an increase in the US debt ceiling to allow the government to pay its bills as they are insolvent and have run out of money that is basically valueless. Congress has increased that limit by enough to allow the government to survive for the next eighteen months, but what happens when they need more cash and Congress refuses?
The government debt now exceeds $ 14 trillion and the deficit is approaching $ 2 trillion. It is not unreasonable to anticipate that the US government in the not too distant future to be unable to meet its payroll, pay their retired citizens their pensions, and Social Security obligations, amongst other things. And the above do not include all the unfunded obligations that the government has not planned for including returning enlisted men and women from the war, the crush of baby boomers about to retire, the failed Freddie Mac and Fannie Mae programs and the continual and increasing debt load of the government.
There is no hope for recovery from this economic quagmire. The US government will start to raise taxes significantly, print more money to pay debts, and curtail payments of some of its debt resulting in more corporate failures, disenfranchised citizens, increased money supply, devalued dollar and more of the same mess that currently exists. At the end of the day all of this debt has to be repaid with money the government does not have.
A new and emerging problem is that China is leading the charge to have the American dollar replaced as the currency of trade for the world. If they are successful, that will sound the death knell for the American economy and the American way of life and mark the beginning of the end for life as we now know it including the end of the American Dream. At the same time, the price of gold will continue to rise to levels never before reached as institutional investors, banks, countries and the ultra rich begin to move their money from dollars and other currencies into gold bullion.
You can do the same thing now, before it becomes painfully obvious to the world at large, and in the process get a jumpstart on the rest of the investing world.
Start to move all of your funds from savings accounts, the stock market, the bond market and any other financial account that you may have into gold and gold bullion immediately. Every day that passes, the world economy gets closer to the brink of a disaster from which it cannot recover. Every day that you wait to move assets will cost you plenty. There may come a day in the not too distant future when the US banks will stop to honor withdrawal requests from American citizens as the ultimate irony takes place in that the banking system runs out of money in an economy that has been flooded with nothing but money in the past few years.
Your financial future tomorrow depends on the financial decisions you make today.
To download your FREE report on 8 Steps To Protect Your Wealth, http://www.downloadmypdf.com/238/dannycash/8steps.pdf€">click here.
What does this mean for you and your financial future? Plenty! And the more you understand what is causing this rise in price the more prepared you will be to survive what lies ahead. But first, a little history will explain the start of this process and its implications to you.
In 1971, President Nixon, unilaterally and without the approval of Congress severed the relationship between the price of gold and the US dollar. At that time, the price of gold was then set at $ 35 an ounce. From that point on gold prices in the world have been rising, reaching a high of almost $ 1,961 on September 6, 2011. Although the current price of gold is less than that historic and all-time high the long term trend is still clearly on the increase and some experts are predicting that it will hit anywhere between $ 5,000 and $ 6,000 an ounce within 5 years.
In the history of the world there has never been anything else that has held its value in both good and bad times, in both certain and uncertain economic environments.
And yet, the value of all other paper or fiat currencies around the world have declined over time and in some cases to practically near zero.
How can you protect yourself and your financial assets in turbulent times like the ones we currently live in?
Quite simply, by buying and holding gold now. Look at what is happening to the devalued American dollar, the European euro, and other currencies around the world. Massive deficits are now the norm as countries around the world struggle to pay their bills. Government bailouts of corporations in the financial, banking, oil, car, and airline industries have rendered them insolvent themselves. Major household names such as General Motors American Airlines, US Airlines, Goldman Sachs, AIG and others have either already gone bankrupt or are in the process of going bankrupt and have already received or are seeking more government money to survive. And who is the ultimate source of these funds, but the taxpayer itself?
The US government has already injected over $ 15 trillion into the US economy to prop up these failing giants with little success. The European Common Market, the Euro and their economies are faltering and falling further into a financial abyss. Look at Greece, Spain, Italy, Portugal and Ireland. They will be the next dominoes to fall as the economic problems of the world get re-circulated across global borders.
The European economies, mostly Germany and France have injected over 200 Billion Euros into these failing economies without any effect to the point that both these former powerhouses are now feeling the financial pressure themselves..
The US dollar is being devalued. The major credit rating agencies have recently downgraded the creditworthiness of the US government to the lowest point in its history. The President has gone to Congress to plead for an increase in the US debt ceiling to allow the government to pay its bills as they are insolvent and have run out of money that is basically valueless. Congress has increased that limit by enough to allow the government to survive for the next eighteen months, but what happens when they need more cash and Congress refuses?
The government debt now exceeds $ 14 trillion and the deficit is approaching $ 2 trillion. It is not unreasonable to anticipate that the US government in the not too distant future to be unable to meet its payroll, pay their retired citizens their pensions, and Social Security obligations, amongst other things. And the above do not include all the unfunded obligations that the government has not planned for including returning enlisted men and women from the war, the crush of baby boomers about to retire, the failed Freddie Mac and Fannie Mae programs and the continual and increasing debt load of the government.
There is no hope for recovery from this economic quagmire. The US government will start to raise taxes significantly, print more money to pay debts, and curtail payments of some of its debt resulting in more corporate failures, disenfranchised citizens, increased money supply, devalued dollar and more of the same mess that currently exists. At the end of the day all of this debt has to be repaid with money the government does not have.
A new and emerging problem is that China is leading the charge to have the American dollar replaced as the currency of trade for the world. If they are successful, that will sound the death knell for the American economy and the American way of life and mark the beginning of the end for life as we now know it including the end of the American Dream. At the same time, the price of gold will continue to rise to levels never before reached as institutional investors, banks, countries and the ultra rich begin to move their money from dollars and other currencies into gold bullion.
You can do the same thing now, before it becomes painfully obvious to the world at large, and in the process get a jumpstart on the rest of the investing world.
Start to move all of your funds from savings accounts, the stock market, the bond market and any other financial account that you may have into gold and gold bullion immediately. Every day that passes, the world economy gets closer to the brink of a disaster from which it cannot recover. Every day that you wait to move assets will cost you plenty. There may come a day in the not too distant future when the US banks will stop to honor withdrawal requests from American citizens as the ultimate irony takes place in that the banking system runs out of money in an economy that has been flooded with nothing but money in the past few years.
Your financial future tomorrow depends on the financial decisions you make today.
To download your FREE report on 8 Steps To Protect Your Wealth, http://www.downloadmypdf.com/238/dannycash/8steps.pdf€">click here.
