Either in anticipation of QE2 which will cut the value of the dollar by another 50% once another $2 trillion in toxic crap becomes the “assets” backing the viability of the dollar, or just because they are sick of Fed policies, mid-Michigan has taken monetary matters into their own hands, and in one simple act, completely bypassed the destabilizing influence of the domestic currency printers.
Why should I buy silver? Over time Silver and other precious metals have always held their value. We can not say the same thing about our own U.S. Dollar.
One of the best answers is that inflation is destroying the value of our dollar and the government debt is spiraling out of control. However, the problems could be much worse in the near future.
What is inflation you may ask? Rather than explain using complicated economic terms and charts I will show you first hand. Allow us to take a time machine back to the year 1960. A used car costs close to $800, a gallon of gas $0.31, a gallon of milk $0.49, and the cost of a new home was a mere $16,000. Reach into anyone’s pocket at that time and you will find something very different than you would today…Real Money.
Our currency has been steadily losing its value over the years. Soon we will be forced to issue new nickels because they cost more to make than they are worth.
Did you know that the rising price of copper has made pennies created before the year 1982 worth almost 2 cents today? In the year 1982 the US mint stopped creating pennies from 95% copper. Currently pennies are now made with Zinc. What it means is that newly created pennies (1982-2009) hold almost half of the value of a penny. ($ 0.0048) While pennies created 1909-1982 are worth $.018 by based on current copper prices.
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