Goodbye US$, Buy Silver
The world’s current currency, the US dollar, goes the way of historical world currencies. Down!
And silver is once again emerging as a “go-to” commodity.
Since 1450, there have been six major world reserve currency periods. Portugal (1450-1530), Spain (1530-1640), Netherlands (1640-1720), France(1720-1815), Great Britain (1815-1920), and the United States from 1921 to 2023. The average currency span is 94 years - the US dollar has been the world’s currency for about 99 years.
Silver was highly valued as early as the Predynastic Period (ca. 4400-3100 BC). It was the first metal used as a currency, more than 4,000 years ago when silver ingots were used in trade. Temple inscriptions indicate that silver was valued more highly than gold in much of Egypt’s history. In 483 BC, Athens had all the revenues from a silver mine in Laurion minted into tetradrachms (silver coins) to pay for the building of 200 triremes (ancient Greek warships).
Breton Woods - A failure
The US Breton Woods Agreement set the rules in 1944 to create currency exchange rates for 44 nations using gold as the standard. It supposedly provided the framework necessary to develop fixed international currency exchange rates. Problems emerged, and by 1971, the issue was so bad that US President Richard Nixon suspended converting the dollar to gold.
As the world goes into significant detrimental currency changes, the demand for silver dramatically increases. The demand for silver has greatly increased, particularly for its usage in technology.
Several US leaders will go down in history as being responsible for the emerging monetary fiasco.- and the inevitable run to silver.