Cash-4-gold con.
What if I asked you to give me the title to your automobile or to give me the deed to your house for a stack of printing paper. You would look at me as if I were completely insane. This is how I view people who participate in “cash for gold” exchanges. I will have to provide a little bit of a background on “cash” or “currency” versus “gold” (a commodity) and why you are being hoodwinked.
People often wonder why the price of gas goes up, why the price of food goes up and the price of everything else goes up. Is because the value of currency goes down. This has been a consistent trend since the US was taken off of the gold standard. This trend has been snowballing more recently due to astronomical governmental spending. The gold standard essentially meant that all currency in circulation had a reserve of gold to back it up. So if there was a million dollars of currency in circulation, there was a million dollars worth of gold in the US treasury. What happened once the US was taken off the gold standard , was that the Federal Reserve bank could print up as much currency as they felt needed into circulation with nothing to back it up but some kind of imaginary merit. So the supply of currency increase, the value of it decreases therefore requiring more currency, to buy the same thing, which is called inflation.
First of all most people think currency is money. So when one of these metal refineries take your metal and give you some cash, you think of it as receiving money. You are not. Currency is simply a medium of exchange. You use it to transfer value from one thing to the next. In times of the past, bales of hay were currency. A bundle of wheat was a currency, chickens were a currency. They are mediums of exchange, but no one now I think would try to purchase a car with a truckload of whole wheat.
Money according to US’s supreme law, the constitution, is simply gold and silver. What the US dollar is, can be referred to as a fiat currency. A currency that derives its value from the authority of government is fiat currency.
So what is the scam? Well, essentially these companies are taking your money. There is a potential currency crash on the horizon in the US( history tells us that currencies always crash). So they snatch up TONS of gold and protect themselves from inflation and currency crashes while you are left with worthless federal reserve notes. Not only that, but they will make a huge profit because the value of gold will spike . It’s a con game, don’t get stuck in it. Hang on to your gold. Just look at the picture above and listen to intuition to tell you what is valuable and what isn’t.
Con- Trading a finite resource for worthless paper.
Solution- Learn how to invest the gold you have to make a profit and/or protect what assets you have
Thank you for reading-Sutekh
