But gold is a different story!
It doesn’t matter whether the government’s unbacked, fiat, made-up money is printed or a mere digital bookkeeping entry, it will always end up worthless.
It has happened in more times and places than we can recount. The latest is in Venezuela where the money ends up as roadside garbage. This is what hyperinflation in Venezuela looks like.
But don’t take it from us. Have a look yourself:
You will note, by the way, that nobody ever throws their gold and silver away along the side of the road.
The last time we wrote about Venezuela’s currency calamity HERE, we noted that faced with a worthless currency, in the mining areas of the country, gold was beginning to reassert itself as a reliable unit of value. Miners pay workers in bits of gold. They in turn break off flakes of gold to pay for lodging, in bars, and even for haircuts.
One of the great ironies of the story is that they are using the worthless paper currency, the government’s bolivars, to wrap paper to wrap up and protect the bits, flakes, and nuggets of gold they carry in their pockets and purses.
So, I guess paper money isn’t entirely useless!
If your finances, your savings, and your retirement funds are all in unbacked, fiat, made-up digital or paper currency, we recommend you let the fact that we are experiencing the highest US inflation in 40 years spur you to take steps to protect yourself and your family.
The first step is to speak with a Republic Monetary Exchange gold and silver professional. There is no charge or obligation. Learn how to protect your hard-earned wealth from the common fate of funny money everywhere.