“Gold is the money of kings, Silver is the money of gentlemen, barter is the money of peasants, debt is the money of slaves.” By Norman Franz
How much you believe in the above statement is up to you. In effect, it is similar to the thoughts of “Rich Dad, Poor Dad” author, Robert Kiyosaki. He notes in a video that he’s been buying silver over gold as silver is the natural resource of the future and will be used in every tech gadget that you currently have or desire to have. Silver, back in 2008, cost about $12 – $15 an ounce. As of April 22, 2014, silver is running at $19.41 an ounce. He noted that great men such as Caesar and Napoleon used gold and silver in exchange for the purchase of a product or service, not paper. The U.S. was backed by gold but no longer. In 1971, under the leadership of President Richard Nixon, gold and silver was replaced with paper money. Kiyosaki, along with many others, believes that paper money has no tangible value in comparison to the value of gold or silver. Never in the history of the world has paper money replaced the value of gold or silver.
Even the Monetary Digest maintains that silver offers better upside price potential than either gold or platinum, saying “We take this position not just because of silver’s positive supply/demand fundamentals but also due to a phenomenon most silver analysts overlook.’’ Thus meaning, that silver has served as money alongside gold since the beginning of time. Abraham paid “four hundred shekels of silver, current money with the merchant.” Judas was paid 30 pieces of silver for turning on Jesus with a kiss to identify him to the Roman soldiers.
Because the dollar and euro cause economic volatility, its value will constantly decline as other tangibles such as gold, oil and real estate continue going up in price. Kiyosaki fears the dollar will not hold any weight til we see charismatic leaders step up to the plate. Currently, he sees silver being more valuable than real estate with there being less than a ten year supply of it left on earth. The reason why silver is so valuable is that it is consumed, and gold is hoarded. The more the information age develops, the more silver will be consumed. It is used in cell phones, telephones, computer, electric light bulbs, etc. So when asked where he is currently investing, Kiyosaki notes that he is invested in metals that are being consumed throughout the world.
Robert Kiyosaki notes that because of supply and demand, that world’s two billion consumers that want to lead a western world’s lifestyle give a strong indication that buying into silver is where you should invest your money. Noting that we only have a limited supply of the precious metal, it’s not rocket science as to where your money should be. The dollar and euro can’t hold their weight and silver offers the tech world a current need. [bing_translator]