Silver - The Element of Change

Most Americans Have Little to No Savings

 

 

 

According to GoTalkMoney.com:

More Americans are reporting that they have almost no savings and investments, according to a survey by the Employee Benefit Research Institute (EBRI). The 2010 Retirement Confidence Survey found that 27% of workers polled said they have less than $1,000 in savings accounts, compared with 20% in 2009. The poll also found that 54% of people had less than $25,000 in savings and investments, excluding their home and any defined benefit plans.

More people also are not saving for retirement. The poll found that 69% of workers said they and/or their spouse have saved money for retirement, but only 60% say they are currently saving.
Americans already had a low savings rate before the recession. Now, due to a high unemployment rate, many people are finding it impossible to save at all and are just trying to stay current on their bills.

The survey also found that a growing number of folks are planning to delay retirement. In fact, 24% of workers said they have postponed their retirement age in the past year. Among the reasons given were the poor economy, changes in their job situation, not enough money, and the need to recover money lost in the stock market.  About 16% of those polled said they are very confident about having enough money for retirement. <- Source

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What is Money?



What is Money?

Before we go down the track of Precious Metals, we must first backup and understand the basics. Throughout my studies and life I have been trying to find peace of mind, whether that is my current situation or peace of mind for my future. When looking at ones future the first thing that always pops in my mind is Money. What is money?

                              

What is Money? – Money is a good that acts as a medium of exchange in transactions. Classically it is said that money acts as a unit of account, a store of value, and a medium of exchange. <- About.com/Economics http://economics.about.com/cs/studentresources/f/money.htm

Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given socio-economic context or country. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past a standard of deferred payment. Any kind of object or secure verifiable record that fulfills these functions can be considered money. <- Wikipedia http://en.wikipedia.org/wiki/Money 

The last phrase from Wikipedia’s definition of money “Any kind of object or secure verifiable record that fulfills these functions can be considered at money.” You may be thinking okay, if I believe that Fiat is nothing but a piece of paper backed by a promise from a Private Company who is storing Gold, but not backing the fiat with it, then why don’t I use that fiat and stock up on goods, that I consider that are a store of value. Well you then fall into “The Double Coincidence of Wants”.

Definition: The phrase double coincidence of wants was used in Jevons (1893). “[T]he first difficulty in barter is to find 2 persons whose disposable possessions mutually suit each other’s wants. There may be many people wanting and many possessing those things wanted; but to allow of an act of barter there must be a double coincidence, which will rarely happen.” That is, paraphrasing Ostroy and Starr, 199, p 26, the double coincidence is the situation where the supplier of good A wants good B and the supplier of good B wants good A. http://economics.about.com/cs/inflation/a/deflation.htm

So back to the basics, what is money. Well Money is a medium of exchange. Right now money in todays social aspect is Fiat Currency.

So if I were to have you choose between a Gold Coin or a $20 Bill. Which would you choose? 

You would first think the Gold Coin, but believe it or not, there is a video on YouTube that would prove you wrong in today’s mindset. Since the start of the Federal Reserve, money at the time was Gold and Silver, and then the Government made Gold illegal to possess, so they told the public to give the Gold Coins up in exchange for a Note that was backed by Gold. Coins during and prior had Silver and other valuable metals. But slowly throughout time, our Federal Reserve Notes are just a piece of paper backed by nothing and the coins no longer possess the valuable metals anymore.

So what does one do when waking up to this discovery?

What happened to you that made you buy Precious Metals?

I am a fellow YouTuber who fell into the Silver Community in 2012. A lot of things have happened since 2008 in my life. Since then I have been thinking on what is happening and what I can do to fix things in my life. When I cam across YouTube I found the Silver Community and noticed since I have found the community how it continues to grow and grow. So I decided that I would take the opportunity and do some studies with random YouTubers to understand the thought process when it comes to Silver and Precious Metals.

On my YouTube Channel - Ape Man, I posted a video response to another YouTuber on What happened in your life or surroundings that caused you to buy or invest in Precious Metals. My questions are:

1. What Age Group Are You? (20-30) / (30-40) / (40-50) / (50-60) etc.

2. What Country are you in?

3. Your Story. What happened that made you buy Silver or PM's?

Below are a few links to the channel, study, and POW Blog.

YouTube Channel - https://www.youtube.com/channel/UCSEtiqKp6LhEJNxkl0ROw5w

Study Video - https://www.youtube.com/watch?v=-Ga3zaX0Em8

POW - Silver Blog - http://www.pow-silver.com/

Ape Man - Aaron

At Cost Silver Bullion with Preservation of Wealth

At Cost Silver Bullion with Preservation of Wealth

Please click the link to find more information on At Cost Silver Bullion, plus understanding to Dollar Cost Average your Bullion stack.

Posted by: Aaron