It seems as though trillions of paper currencies around the world have simply disappeared. Euros, dollars, pesos, etc, by the hundreds of millions have vanished. Governments are madly printing more to replace the missing paper. Where did they go? The general opinion is that the paper monies have been stashed away in safes, or maybe under thousands of mattresses, safe deposit boxes, or who knows where? Why would millions of people around the Earth, stash away trillions of un-backed paper monies? The answer, I think, is that they are wary of the future of their various paper currencies. I understand. Me too.
One fellow in Europe stashed 500,000 euros in a broken furnace, and unbeknownst to him, a repair man came, fixed the furnace and lit it, thereby burning the furnace owner’s life savings. There are other funny but tragic stories in a Journal story of December 15th. Reminds me of Leadville Johnny Brown storing $10,000 in his stove in, “The Unsinkable Molly Brown” film. He lit it and burned up $10,000. Actually that is a true story. (I saw the Broadway show in the Winter Garden Theatre in New York in the early 50’s staring Tammy Grimes, and it was great, except in the film the famous line, “Well drop my drawers” was eliminated. Tammy is 18 days older than me, still alive, and she won a ‘Tony’ for that performance.) See how old we are?
If you’re leery of your government or its currency, as I and millions of people are, for God’s sake act intelligently! Store it in something which has (1) value, (2) won’t burn, and (3) will have value anywhere. Well guess what? Is there any other answer than gold and silver? Like dollars or euros, gold and silver have no serial numbers or ways to check who owns them. Currencies do have serial numbers but they are in the hundreds of millions and no one ever keeps track of them other than in bank robberies. Bit coin? Give me a break. I am not going into that again. You want a brass coin worth $7,000? I’d rather have five gold ones at $1512 delivered, from us, at least at Friday’s price, with a difference of $560, with which you can take the whole fam damily out to a swank Christmas dinner. That’s enough for now. Please have yourselves a merry Christmas!
Don Stott
don@coloradogold.com