Over the last 22 years the US dollar has plummeted in value while, at the same time, another little known currency has increase in leaps and bounds by a massive 216 percent.
Many thousands have used it to fund their retirement fund earning a satisfactory double and triple return from year to year.
But most people do not even know it exists despite the fact that the US government has been issuing this currency since 1986.
This currency has outperformed, the US Dollar, the Euro, The British pound and even, yes Google stock over the past couple of years. And its only just started!
So what is this alternative currency and where does this it come from? How much is it worth? And, importantly, how do you get it?
This currency comes from a fairly non descriptor beige cinder-block shaped building in Orange County NY. It has three foot thick walls and heavily armed staff and is off limits to the public.
But this quiet little building has been responsible for more wealth creation than all the other US Mints combined. Its printing presses run 24 hours a day, five days a week. Up until a short while ago that is. They cannot keep up with the demand. Demand has doubled and so a strict rationing has been put in place. Why?
In 1975 you could buy an ounce of gold for 100 US dollars, Now it takes more than ten times that.
Inflation as a result of printing more money is not new and has been done before. Inflation, in fact hyperinflation, or highpainfulinflation as I call it, has happened before. Rampant money printing in 1779 cause a massive inflation, Shoes were selling for 5 thousand dollars and new suits for a million dollars. It was not until the Constitution Convention where gold and silver was introduced into the United States constitution was inflation curbed.
Later, between 1915 and 1920 the money supply doubled. Naturally prices shot up by fifty percent, again crippling the average American's spending power. Now the cost of utilities such as heating, oil, gas, insurance, food , education etc, continue to rise. In short, the US dollar continues to buy less and less.
An Alternative Currency
But an alternative currency has continued to appreciate and increase in value. It is often called, The West Point Dollar.
It is the ONLY US dollar not printed on paper. In fact it is struck into coins made of gold, silver and platinum.
The most popular of the coins is the US Silver Eagle. It is so popular that the US Mint is now rationing it. It may have only a face value of one US dollar (it is a legal currency in the US) but as it contains ounce of silver, it is currently trading for over 20 US dollars on the open market.
Why is it so popular? Is it because of its beauty? Or because of a patriotic sense? No. It is because it is silver and a last line of defense against the crumbling value of the US paper Since Public Law 99-61 was passed to allow the US Mint to create Silver Eagles dollars the bright silver coin has been in high demand as millions have scrambled to add the coins to their investments and retirement funds. Silver Eagles has no debit assigned or incurred to them. They do not lose value and they can be easily exchanged or goods and services.
This spring (in the US) alone they have earned a 30.53 percent tax deferred return. And the more deficit spending Washington undertakes, the more gains these silver coins will make simply because, the more paper dollars the Federal Reserve print, the more of those dollars are going to be needed to buy goods and services and the more the Silver Eagle is going to be worth in US dollar terms.
Many investors and families around the world are looking to accumulate investments in solid cold hard silver gold and platinum bullion.
Recently China reported an increase in its gold reserves from 600 to 1,054 tons of gold. Not ounces, tones.
India continues to be the largest buying of gold in the world and all over Europe people are queuing up to buy gold and silver at any price with anywhere from 4 to 8 weeks waiting time.
Although Silver Eagles can still be bought from dealers at a premium, when placed in an IRA, can effectively be bought for less with in a tax deferred system. One should consult with ones financial advisors in any matters of investment and IRA funding.
So Silver Eagles can be a life saving alternative currency to retain the value of your assets when inflation rears its ugly head.