We discuss the dangers of fiat currency directly and often indirectly here at The Coin Trader Blog. For those not familiar with the term Fiat Currency it is simply stated: Legal tender that is only backed by a governments word of having value. It is a governments way of saying trust me we know how to run the economy.
Since, none of these fiat currencies are tied to tangible assets like gold or silver, as was the tradition for many millenia. They inevitably are left open to manipulation, hyper-inflation & total collapse. All major currencies today fall under this category, so at some point it is guaranteed to fail. This is what makes holding physical gold & silver in your portfolio so much more imperative.
It gives you the peace of mind knowing that when the collapse happens you will have the real currency to provide you & your families basic needs. To bring this into sharper focus Eric Fry recalls a conversation from 2005 with Henry Hackel the president of R.F. Lafferty, a broker-dealer specializing in options trading and resource stocks. Henry’s position on gold is long term acquisition. Read more in: Box of Money