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The East Saves in Precious Metals, The West Saves in Fiat

By admin 4 years ago 1070 Views 5 comments

Throughout history, citizens have worked and been rewarded for their labor in gold and silver. This form of savings carried on from generation to generation, as it was real and could not be diluted into infinity, such as the current system we now suffer under. The fiat money system.

Throughout history, governments and those controlling them, have sought to replace the honest money system with their own creations, whether this be diluting the value of coins, issuing paper money or even worse, digital money, created by banks, with a few simple entry's on a computer keyboard.

Unfortunately, in the short term. Governments have won. They have convinced the masses that fiat money is real wealth. Those of us in the precious metals community know different, we know that real wealth is tangible. You can hold it in your hand and know that it possesses value. A feeling, that you can't explain until you feel it for yourself comes over you when you hold a gold bar, or silver round. You instinctively know it is money.

Luckily, not all countries have been successful in disconnecting their citizens from real money. China and India, are two such countries.

Rural India, which accounts for roughly 60% of gold and silver consumption in the country is predominately made up of farmers. The primary crop is kharif, and the profit accumulated from the sale of this crop is used to purchase precious metals, their primary form of savings.

Fortunately for these farmers, the recent decline in precious metals can be looked at in a positive light, as their sales in kharif are expected to increase by 5-10% this year. This translates into much more precious metals demand, as farmers are making more and therefore investing more into an already suppressed metals market.

In addition to this increase in demand, India is entering into its traditional wedding season, which translates into a huge increase in demand.

Sadly, as the Indian population and other Eastern countries around the world take advantage of this decline in precious metals. The mass majority in the west remain asleep at the wheel, content to let this opportunity pass then buy. Content in their accumulation of fiat dollars, which has and always will go to its fair value. Zero.

India_Invest_in_precious_Metals

The East Saves in Precious Metals, The West Saves in Fiat 3 years ago at 10:16 PM
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[...] People in India buy precious metals (primary gold) in the form of jewelry. PHOTO LINK [...]
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[...] People in India buy precious metals (primary gold) in the form of jewelry. PHOTO LINK [...]
The Küle Library 3 years ago at 10:16 PM
[...] Sprott Money posted essay highlighting the differences in culture between the East & the West on saving .. “Throughout history, citizens have worked and been rewarded for their labor in gold and silver. This form of savings carried on from generation to generation, as it was real and could not be diluted into infinity, such as the current system we now suffer under. The fiat money system. Throughout history, governments and those controlling them, have sought to replace the honest money system with their own creations, whether this be diluting the value of coins, issuing paper money or even worse, digital money, created by banks, with a few simple entry’s on a computer keyboard .. As the Indian population and other Eastern countries around the world take advantage of this decline in precious metals. The mass majority in the west remain asleep at the wheel, content to let this opportunity pass then buy. Content in their accumulation of fiat dollars, which has and always will go to its fair value. Zero.”LINK HERE to the essay [...]
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