Terry Sacka Explains How the Dollar Lost It's Gold Standard Status
Online, May 1, 2014 (Newswire.com) - Gold, throughout history, has been considered money and the relative standard for currency equivalents until the latter part of the 19th century. The gold standard was suspended in the 1971 Nixon Shock, when the United States unilaterally suspended the direct convertibility of the US dollar to gold, as the system made its transition to a fiat currency system.
Terry Sacka is a regular speaker and financial expert who appeared on The Wealth Transfer show recently to discuss how the dollar lost it's Gold Standard status. Mr. Sacka dicussed his viewpoint of a well-diversified retirement plan that includes precious metals, one of the few assets that demonstrated the ability to retain value even during economic downturn and decline.
He explained the role of precious metals throughout history as documented in ancient religious texts such as The Holy Bible. God say's in Proverbs 11:1 not to partake in dishonest weights and measures it as an abomination, honest scales are a delight.
He went to say, "Paper dollar money is a dishonest weight and scale managed by the Federal Reserve which is nothing more than an IOU. Gold and Silver is considered an honest scale, an ounce is an ounce, Haggai 2:8 says 'the gold is mine, the silver is mine'."
Today, gold is a commodity that has physical intrinsic value. Prices in other mediums against gold vary, but gold itself retains the same purchasing power. His principles of investing are based on the fact that since before the dawn of history, gold has been the medium of exchange preferred from civilization to civilization. Tributes, trades, and other international situations dealing with money used to all include exchanges with gold on one side of them. Wise investors know that gold, in inflation and recession alike, retains value in ways that no paper money or speculation can.
Mr Sacka's philosophies state "Instead of playing the stock market, or engaging in usury by proxy, investments in precious metals such as gold is the best way to protect your wealth and future with a deposit in solid money as God intended. The reason why gold offers such protection is very simple. Unlike other commodities gold behaves like the currency it was intended to be."
About Terry Sacka
Terry is a financial analyst and accredited asset management specialist (AAMS) at Cornerstone Asset Metals, a private bullion dealer located in Jupiter Florida. The company enables investors, both large and small, to use metals such as gold, silver, platinum and palladium as an effective hedge for their retirement accounts against inflation. The company mission is to put people back in charge of their wealth through tangible assets that have been used as a medium for exchange since the dawn of civilization.
More information can be found at his company website.
Cornerstone Asset Metals 601 Heritage Drive, Suite 104 Jupiter, FL 33458 (888) 747-3309
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