Provident Metals

Metals, She Wrote: Paper or Plastic

No, I’m not talking about grocery shopping.

As of August 19, 2016, the United States is $19 trillion dollars in debt. The banknotes and credit cards we use on a daily basis were intended to be backed by hard assets in the Federal Reserve; however, the inventories of gold and silver are far outweighed by the debt which we owe.

How we get back to square one, I have no idea. What I do know, is those of us who are reading this are the lucky few who realize the significance of owning bullion. Throughout history, the one set of commodities to stand the test of time and continue to prove valuable is precious metals.

Perhaps the luckiest of us are those who live in states whose leadership has also come to the realization that owning and controlling gold and silver is essential in the coming days. States like Texas have already passed legislation to begin building a state-run depository to repatriate gold held by the federal government in New York. This would save Texas taxpayers over $1 million dollars annually in storage fees. In addition to the state controlling its own gold, Texas residents will be able to store their gold and silver in the depository and write checks based off bullion balances- payment based on actual assets, the way the Founding Fathers intended.

One of my favorite quotations by economic journalist Bob Adelmann says:

“May this Texas spark set a conflagration that ultimately burns down the entire fractional-reserve banking system along with its chief enabler, the Federal Reserve System. Its ‘Federal Reserve Notes’ are neither federal nor are they backed by any reserves. It is hoped that the Texas experiment will prove the fact, expose the lie, and ultimately end the fraud.”

Texas isn’t the only state to push for authenticity in payments. Oklahoma, Tennessee, Utah, and Louisiana are among the other states who want to see the return of honest money.

What’s the call to action, here? I think what this boils down to for prudent Americans who are paying attention to things beyond the latest viral youtube video is preparation is key. I don’t believe in fear mongering, but I do believe in being aware. There is a severe problem with the Federal Reserve System, and the best way to create stability for you and your loved ones is to put stock in the historically safe investments that, according to the Constitution, will always operate as legal tender.  

For stacking, I would suggest the Provident Metals 10 oz Silver Bar. As a privately minted product, it has a low premium and is American made. It is perfect for efficient and convenient stacking.

For new investors, what do you suggest? How do you feel about the Federal Reserve System and its current operations?

Happy Stacking!

-J