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No Faith In Paper Money

March 22, 2010 by  

Dear Bob,

I am a disabled veteran with no savings account. A poor person, mind you, without a financial education. I buy a measly 10 oz bar of silver monthly with my disability check because I have no faith in the government which is what backs the value of a paper dollar. Am I being foolish?

Jerry Diltz

Dear Jerry,

You are not being foolish at all. You are being prudent. You might also consider buying junk silver; pre-1964 silver coins. They are more valuable for their silver content than their face value. However, when the collapse occurs they may be more useful than silver bars because 1) they look like the coins people are used to seeing and may be more readily acceptable in exchange and 2) they provide the flexibility of different quantities of silver for smaller purchases.

Best Wishes,
Bob

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • Richard Pawley

    Dear Jerry,
    I second what Bob says, but I would suggest that since you cannot eat silver that you learn about non-perishable foods as well. Additionally, starting next year, if you go to sell that silver bar to a dealer you will have to give him your social security number on a new form that is required under the Pelosi-Reid-Obama health care plan. This isn’t just for coins but for all business who buy more than $600 worth of anything. It is just one more nail in the coffin of the middle class. Like the Nazi socialists of another generation the paper work is going to be incredible.
    If you can afford $180 or so for a silver bar, I would suggest you spend half of that instead buying some non-perishable foods. One month you can buy a case of mixed fruits, freeze dried in number ten cans and good for decades, if stored in a cool dry place. Another month you could buy a similar case of mixed vegetables. Sugar and honey will last ages and coffee will last for at least a decade (in my experience) if canned and stored in a similar way. Congress is doing all it can to create inflation but it is not working – SO FAR – but it will eventually, and I believe that inflation alone will pay for these things and when food doubles and triples in price, you may not find any who will trade if for silver coins or even gold ones.
    http://www.honeyvillegrain.com is a company I have purchased from and they have sales a few times a year. You can even buy cans of cooked freeze dried ground beef or turkey that is good for 20 plus years. I am convinced that you will be much happier that you have things like these than a lot of silver which I have heard is going to skyrocket for 25 years now but it hasn’t so far. Mountain House makes freeze dried dinners for four that can make three good sized meals and they are in foil packets that will last seven years taste wise and nutritionally. The only disadvantage to them is that so far some of them contain sodium aluminum phosphate and aluminum accumulating in the brain has been associated with Alzheimer’s Disease. The government says we have no Inflation but that does not include food and I suspect that inflation alone will pay for most of these things and in less than seven years! Everything we use is going to go up, taxes especially. Do you like spaghetti? I do and my father would seldom allow it to be served because he lived through the last depression and it was a frequent meal. I have kept it in dry air tight containers for a decade and recently bought a case in cans – dry spaghetti, not canned. By the way never store tomatoes or tomato sauces in cans (but I have eaten and enjoyed some spaghetti sauces in glass jars that was three years past the expiration date AS LONG AS THEY DID NOT CONTAIN MEAT OR CHEESE. Try to think like a pioneer. My elderly parents tell me they can remember a time before supermarkets were invented, and we are so spoiled today by our easy going modern life which will end before this decade is over (not our lives necessarily but the easy going part). Americans today are one of the most blessed (and spoiled) people in the world but like the ancient Israelites we think we did it all ourselves. God had to punish them and many believe he is using the socialist Democrats to punish us. I hope you believe in him and can pray for help and direction because a time is coming when the government is not going to be there, for the most part they already don’t care.
    Much to learn but if you are patient I think you will find that you will do even better percentage wise with some non-perishable foods than with silver bars. Some of both are desirable but I’d rather have a quarter ounce gold coin than two silver bars. I think it was King Soloman, the richest man who ever lived who said, to divide your investments in to six or seven because you don’t know the future. Of course today it easy to know some of the future but only Franklin halves and the dimes before but unless we can restore our nation in November the coming Depression which I called “The Greater Depression” in my first book, four years ago, in which I predicted the stock market crash (which wasn’t hard to do), well, this will cause all things to be more precious and appreciated. Remember to vote in November. It could be the most important vote of your life. God bless you and get ready for the ride of your life.

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