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Silver has long been respected and used as money because of its intrinsic value. The US dollar was fully redeemable into gold and silver until 1933 and continued to be at least partially backed by gold and silver until 1971, which is why it was such a strong international currency during the 20th century. Because it cannot be artificially inflated, silver tends to increase in value over time relative to paper currencies.
Since 1913, the Federal Reserve Note symbolizing the US Dollar has decreased in value to the point where it takes $20.00 to buy today what $1.00 bought back then. Unlike paper currencies, including the Federal Reserve Notes, silver is a currency that is not based on debt. Because it is made of silver, it cannot be just printed; it must be purchased.
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Why should we consider buying/investing in silver? There are several reasons which I will discuss here, but I would like to start out with a true story that I found in a book entitled "To Seduce a Nation" by Lindsey Williams in a chapter called "Money".
- "In the year of our Lord 1950, our first example individual put $50,000 into the purchase of a very nice home. For 32 years he has fixed the roof, paid the taxes (rent), maintained the yard, heating system, etc., etc.
"In return his property has realized a tremendous appreciation in value, right? We're told, "Nothing has increased in value over the years like property."
"Today that property is valued at $250,000. What a wonderful increase in value. The man is rich. His financial statement confirms his worth, he can borrow money at the bank easily. Has this individual received something for nothing?
"Our second example individual put $50,000 into the ground in a tin can. No roof to fix, no walls to paint, no hot water tank to replace, no maintenance of any kind. No interest, no accrual, no increase in value, no tax deduction (horrors). To put dollars (silver dollars) into a can is just the opposite of good money management, right?
"What do you suppose the can of coins is worth today? It is worth just exactly what it was worth in 1950, $50,000.
"How many Federal Reserve notes will that can of coins purchase today? $650,000.00!!! You read right. The house will sell for $250,000.00; the can of coins for $650,000.00.
"What appears to be a huge increase in the value of the house, in reality turns out to be a $400,000.00 loss. Have we been swindled or have we been swindled?
"No State shall. . . . make any Thing but gold and silver Coin a Tender in Payment of Debts.- -The Constitution of the United States of America (excerpts from Article I, Section 10-1)
- "Reginald McKenna, who had served as Chancellor of England's Exchequer, said in January, 1924: I am afraid that the ordinary citizen will not like to be told that the banks can and do create money, and they who control the credit of a nation direct the policy of the government and hold in the hollow of their hands, the destiny of the people.
"Representative McFadden said: Long before we wake up from our dreams of prosperity through an inflated currency, our gold, which could have kept us from catastrophe will have vanished, and no rate of interest will tempt it to return.
"The Bible says in Proverbs 22:7b: The borrower is servant to the lender."
