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What’s the best policy for owners of cash money, when Central bank is going to delete 3 zeros from currency?

To save the value of cash money

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3 Responses to “What’s the best policy for owners of cash money, when Central bank is going to delete 3 zeros from currency?”

  1. Convert your cash to dollar.

  2. There is only 2 answers to this question.

    (1) either convert your local currency to some other currency that is linked to commodities such as the Canadian dollar, the Australian dollar or the New Zealand dollar. Although these currencies are not backed by commodities they have drilling and mining industries in their economies thus making their currencies stronger because of their export productive capacity. This is why Russia and China both announced in the last couple of weeks that they are buying Canadian dollars. to divest out of the US dollar. AND

    (2) GOLD!!!! Gold protects your purchasing power in a currency crisis. Silver will also work as well. But gold is the currency of last resort as Alan Greenspan has called it. He said before he became chairman of the Federal Reserve, "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold (from 1933 to 1975). If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

    This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.

    Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. (again) Gold stands in the way of this insidious process. It stands as a protector of property rights.

  3. a formal education can make you a living but a self education can make you a fortune

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