Since the beginning of Earth's creation, way before Fiat currencies were all the rage... Gold and Silver existed. It's no surprise that, to this day, gold and silver are dubbed God's money. Why then, you ask, has our government decided to print money out of thin air? The answer is better left to our subsequent posts. As for now, lets take a brief look at the history of silver throughout the United States of America:
1792- Congress bases our currency on the silver dollar.
1834- The United States adopts a gold-standard of 1.5 g of gold for each dollar. A natural silver to gold ratio of 16:1 is discovered.
1965- The U.S. government discontinues mass-minting of 90% silver coins.
1971- Nixon gets us out of the gold-standard. (It is important to note that, prior to this new monetary policy, silver was fairly stable. Silver is directly related to gold.)
1980- Silver prices SOAR to $49.45 per ounce.
2011- History repeats itself and silver flirts with the $50 mark.
In our next post I will explain why silver will not only set new record highs, but will at the least double its current record high. Hope to hear from you guys soon. Good night and God bless.
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