In this First Episode Money VS Currency Mike Maloney explains the difference between Money and Currency. The terms are often used interchangeably. They are often confused. But there is a significant difference, significant to your future wealth and security.
In the last newsletter from https://preciousmetalsinvesting.com we featured episode 6 from the Hidden Secrets of money on the Velocity of Money another even less familiar term often mentioned by economists but not understood by many. Mike explained that in easy to understand language and easy to grasp animations.
That prompted a lot of requests from viewers here at https://preciousmetalsinvesting.com for other episodes in Mikes Hidden Secret of Money series. I thought the best way to start for those unfarmiliar with the Hidden Secrets of Money series was to start with Episode One Money VS Currency.
As Mike points out in the Hidden Secrets of Money Some of the secrets are hidden in plain sight. Some aspects of the economic system are secrets that were designed to stay secret for the benefit of the government and central banks that are stealing your wealth.
Mike explains the difference between currency and money. The currency in your pocket depends upon the government. Because the government can continue to print money and dilute the value of money they steal your wealth. This is the invisible tax. The tax of currency dilution that is constantly reducing the value of the money in your pocket. This hidden tax is stealing your wealth bit by bit. Some analysts have calculated that the value of today’s dollar is only 2% of what the dollar was worth in 1900. When you compare the purchasing power of the dollar in 1900 and the purchasing power of the dollar today you see the stark reality of what the hidden tax of currency dilution has done.
Only gold and silver have maintained their value throughout the centuries. Fiat currently has no intrinsic value it is backed by nothing but the say so of the governement.
There is no evidence of any fiat currency that was not backed by something of value like a gold standard of ever surviving. When one of the experts started cataloging the fiat currencies of the world he got through the first 600 which got him through the fiat currencies beginng with the letter A and half of those that began with the letter B and NONE of them survived.
Mike is the best selling author of Guide To Investing in Gold & Silver: Protect Your Financial Future.
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