zerohedge.com / By Tyler Durden / 11/05/2013 21:53 -0500
As Mike “Hidden Secrets Of Money” Maloney has said many times before, the economic crisis of 2008 was only a speed bump on the way to the main event. He believes that before the end of this decade there will be an economic crisis so historic that it will eclipse the crash of 29 and the subsequent great depression. He also believes it is both unavoidable and inevitable, because it is merely the free market releasing the stored up energy from decades of economic manipulation. As Maolney notes, “the best investment that you will ever make in your lifetime is your own financial education,” and the following provides a succinct reminder of the top reasons to buy gold and silver…
By Mike Maloney,
So here you go… a countdown of “The Top Ten Reasons That I Buy Gold And Silver.”
10. All World’s Currencies are Fiat Currencies, and Fiat Currencies Always Fail.
99.9% of the world’s population is unaware that we no longer use money… we use “fiat” national currencies. What is a fiat currency? Fiat currencies are faith based. They are national currencies that are not backed by anything of value like gold, instead the government just declares that they have value and, as long as the people keep believing, they accept it… for a while. But here’s the thing, there have been thousands upon thousands of fiat currencies throughout history, and they have all failed… 100%… no exceptions.
But there is a vast difference this time around. Since 1971, for the very first time in history, all of the world’s currencies are fiat currencies simultaneously.
Thanks to BrotherJohnF