Back in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.
Dollar bills have absolutely no value except in our collective imagination, but everybody believes in the dollar bill.
So if you think America's politicians and citizens are willing to make the changes necessary to strengthen the U.S. dollar, then don't buy silver. But if you're like me and don't expect us, as a nation, to take our medicine, then short the dollar - and the way you short the currency is by going long on gold and silver.
There is no doubt in my mind that as central banks begin to abandon the dollar, there will be an enormous amount of monetary demand for silver and the silver ratio will plummet. If you look at all of the monetary crises over the last 100 years, any time that there has been even a whiff of a collapse of the dollar, the silver ratio has soared.
Read for fun, read for information, read in order to understand yourself and other people with quite different ideas. Learn about the world beyond your door. Learn to be compassionate and grow in wisdom. Books can help us in all these ways.
Experience has proved to us that a dollar of silver disappears for every dollar of paper emitted.
The Democracy of to-day hold the liberty of one man to be absolutely nothing, when in conflict with another mans right of property. Republicans, on the contrary, are for both the man and the dollar; but in cases of conflict, the man before the dollar.
But what parent can tell when some . . . fragmentary gift of knowledge or wisdom will enrich her children's lives? Or how a small seed of information passed from one generation to another may generate a new science, a new industry-a seed which neither the giver nor the receiver can truly evaluate at the time.
As a decision maker, you rely on information being passed to you by the people who report to you. As the CEO, however, you cannot rely solely on this information. You also need to 'dip' down into your organization and learn directly from employees at all levels and virtually all skill sets.
The easiest way to buy silver was to take a paper dollar to the bank and ask for change. So much coinage was disappearing from circulation that the government was forced to remove silver from U.S. coinage beginning in 1965.
Practically and commercially speaking, a dollar is not necessarily a specific thing, made of silver, or gold, or any other single metal, or substance. It is only such a quantum of market value as exists in a given piece of silver or gold.
It is vital to remember that information - in the sense of raw data - is not knowledge, that knowledge is not wisdom, and that wisdom is not foresight. But information is the first essential step to all of these.
I think that when people read fiction, they're really reading for wisdom. I am. That's what most of us really love. If we read a novel that rocks our world, it's because there's something in it that we didn't know already. Not just information but really wisdom - sort of what to do with our information. And wisdom comes from experience.
Well there are two things: Number one is, make sure you always enjoy yourself, because when you enjoy yourself, you'll learn, you'll want more information, you'll push yourself.
Silver is the best material we have. And silver has this wonderful shine like moonlight ... a light taken straight from a Danish summer's night. When covered by dew, silver can look like magical mist.
You can only learn by opening yourself up to engage with different sources of information. How can you learn something if you never see it, read it, or hear it?