Gold 
“The US national debt as of May 7, 2008, was $9.35 trillion. Just the interest on the US debt is now $500 billion a year — which is equal to the cost of the Iraq war for five years. The cost of servicing this outlandish debt grows every year. Since September 2006, the debt has increased at an average of $1.46 billion per day!
The national debt is now eating this nation alive. In order to keep the US financially afloat, foreign billions are needed daily. But even incoming foreign money is not enough. In order to service the debt, the Fed will have to create more and more fiat currency.
This is one of the basic reasons for the long-term decline in the dollar. It is also one of the basic reasons for owning gold. Obviously, as more and more currency is created, the value of the currency declines and inflation (at various rates of speed) becomes ingrained in the economy. The Fed may fuss about the inflation rate, but they never, ever, talk about the dollar’s loss of purchasing power over the years. And here’s why. Over the last 36 years the dollar has lost 80% of its value. Since 1913, when the Federal Reserve was inaugurated, the dollar has lost 95% of its purchasing power.
Americans are now attacked by two relentless enemies — taxes and inflation.”
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
