Thursday, September 24, 2009

"HI HO SILVER!"


I read today that there is going to be increased consideration in replacing the US Dollar as the standard for world trade currency with some sort of International Monetary Fund (IMF) backed currency. The international community is growing concerned by the record United States Federal deficits along with the US trade deficit and the rapid increase by the Federal Reserve in printing money.
Although a lot of the increased money has not entered the money supply yet as bank loan demand is currently weak; when bank loan demand picks up then the spectre of higher inflation looms .
To counter the rise in inflation in the near term people should consider purchasing some bullion silver and gold coins. The value of US currency is declining on the world stage and precious metals have a long history as a "store of value" and these metals tend to rise in price during inflationary times.
So, I say "Hi Ho Silver!" and have been purchasing about one silver ounce coin per week from the local coin dealer in my area. You might want to investigate and consider picking up a few "solid" coins as well as the current US paper money value continues to go "up in flames".