Paper Money Is Not Wealth

Bob Livingston
Personal Liberty Digest
November 28, 2011

Have you ever seen “old people” hold and fondle their paper money? They count it, hide it under the mattress and bury it for safekeeping.

Remember my example of the power of inflation? I said that you could bury your paper money 40 miles deep in a sealed concrete vault, and it still could be inflated or devalued to nothing. There is no way to preserve your paper money. It is up to the money creators to not overprint.

Here’s how we are fooled: People equate fiat paper money like U.S. dollars with wealth. Only if paper money held its purchasing power could it be a store of value. Only then could you bury it and forget it.

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This article was posted: Monday, November 28, 2011 at 7:25 am

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