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Message:: [QUOTE="RedOakPresoBox, post: 683018, member: 19928"]97% devaluation since 1913 with the establishment of the Federal Reserve. And we got off the gold standard in 1971. When fiat money is not backed by anything I read that it takes 40 years before the currency fails. We are almost there. I don't see how if they are not printing the M3 numbers anymore (stopped in 2006) how we can determine how much liquidity is out there due to quantitative easing. How are they going to pull it back in. The Austrians define inflation as too much currency chasing to few goods. If you look at history as we are doomed to repeat it as one poster wrote above you can look at the period of the early 80's to see that silver and gold hit all time highs.  With all the spending going on and the printing presses running who's to say we won't get a repeat performance of inflation and then price increases in PM's. Interest rates will rise and we will have inflation. It's a matter of not if but when. Like the poster mentioned above Ted Butler poses really good arguments for the investment in silver.[/QUOTE]