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Kennel Kelp Holistic Health Care
English - July 09, 2022 07:30 - 31 minutes - 13.8 MBHealth & Fitness wellness health and wellness cancer diabetes neuropathy charity alternative alternative medicine holistic science Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Fiat Dollar Demise & Spiraling Down+What do you think about Gold & Silver?
In 1933, the United States devalued our dollar by approximately 40%. The government redefined our dollar from being backed by about a 1/20th of an ounce of gold to only a 1/35th of an ounce of gold. In 1971 President Richard Nixon devalued the dollar again by completely taking it off the gold standard “temporarily”. Nixon stated, We must protect the position of the American dollar as a pillar of monetary stability around the world. The US dollar became a fiat currency, backed by nothing.
A $100 in 1971 is equivalent to $709.89 today. Depending on what figures you look at, the US dollar has lost over 90% of its purchasing power since that historical Nixon television address. Gold has increased by 47 times since the fiat currency experiment started in 1971. That fiat experiment is imploding and ending before our very eyes. If a currency is devalued too much, people can lose faith in it, and it becomes worthless.
The inflation rate may pause occasionally, but prices are not going back down. Inflation has a good chance of spiraling out of control.
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