In less than 20 years, the U.S. dollar has lost 80% of its value vs. REAL money (gold)
For those among us who feel safe and secure – perhaps even a little smug – about the value of the U.S. dollar, convinced that a Venezuela-type crash of the currency could never happen in the United States, this article is sure to come as a shock. Gold Switzerland recently reported that in the two decades since 1999, the dollar has devalued against gold (real money) by over 80 percent.
The currencies of countries like Argentina and Venezuela were once strong and appeared just as invincible as the U.S. dollar. Nonetheless, Argentina has suffered one economic setback after the other in the last few decades, leaving the Peso 95 percent weaker than it was in 2001. Venezuela is no better, with a currency that has lost 99.7 percent of its value against the U.S. dollar since 1995.
Figures like these should serve as a wakeup call to the financially complacent among us.
All that glitters …
As Gold Switzerland noted, if wealthy Argentinians and Venezuelans had kept their savings in gold – the only “real” money – they would be in a very good position right now. In fact, they would be living “like kings in their home country.”
Egon von Greyerz, writing for Gold Switzerland, warned:
Very few [people] hold gold or understand the importance of gold for wealth preservation purposes. They don’t understand what is happening in Argentina and Venezuela will also happen in many Western countries. I also meet people with less wealth and most think that having gold is ridiculous and serves no purpose. “You can’t eat gold” is a very common remark. They don’t realise that people in Venezuela can’t eat the Bolivar either but if they owned gold, they would be able to buy food or whatever else they needed.
More:
https://www.naturalnews.com/2018-05-21-in-less-than-20-years-the-u-s-dollar-has-lost-80-of-its-value-vs-real-money-gold.html