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Message:: [QUOTE="RGJohn777, post: 785504, member: 22102"]World economics is beyond me...... BUT, I can read. And I read that when Great Britain was the world's leading economic power, say from some time prior to the American Revolution until World War I, that their currency was the definition of value. It was called the "Pound Sterling" and it took 5 of our dollars to buy one of their pounds. As the Empire began to decline, the British were the first to begin to remove precious metal from their circulating coins. The 0.925 'sterling' standard was debased, but initially only slightly to 0.900. Then again, after World War II, they realised that a further decline was upon them and they entirely severed their connection to precious metals in their coinage.  Nearly 20 years later the USA was compelled to follow suit. Even then our economic strength was waning.  Now the economic dynamos of the planet are moving again westward, this time across the Pacific Ocean instead of the Atlantic.----------- Silver, Platinum, Gold, Palladium, perhaps these new (to us) elements that seem to be so essential to the world of the future (the rare earths), retain their value because their value is real, not illusory. They can actually be fabricated into something that is useful, or sufficiently attractive that powerful people will expend the labor of their minions to obtain them. They also store well. They don't mold or otherwise become worthless with age, as might rice or wheat. A $400 cell phone has no value whatsoever intrinsically. Neither has a pair of shoes any value beyond their ability to cover one's feet, whether they be made of woven rushes or alligator skin.----- Bullion may not go up. It may not go down. But it will never be entirely worthless either. Keep some just in case.[/QUOTE]

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