"The trifling economy of paper, as a cheaper medium, or its convenience for transmission, weighs nothing in opposition to the advantages of the precious metals... it is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted."
-Thomas Jefferson

Subscribe to get free precious metals e-news

Tools

Print E-mail

"Educate and inform the whole mass of the people... They are
the only sure reliance for the preservation of our liberty."
-Thomas Jefferson

DOWNLOADABLE RESOURCES
Metals Investment Worksheet
LPM Investment Program Info
Wire Instructions
Precious Metals FAQ
Glossary of Terms
Referrals

adobe
*Adobe Acrobat is needed to view these files.

 

"Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation."
- Ben Bernanke to the National Economists Club, 2002


Interesting Reads

The American Inflation by Jordan Roy-Byrne
first_national_bullion "Today, our economy is a mixture of free market capitalism, socialism (welfare, entitlement spending) and fascism (central bank, big corporations in bed with the government). Which way will it drift? Contrary to what one might think, the gold bull market will go a long way in restoring a solid and constitutional economic foundation. Gold is pure. It is money, freedom and liberty. While all fiat currencies ultimately encounter the same fate, gold and silver as real money has stood the test of history. The most basic element of commerce is a stable medium of exchange. If an economy's form of money isn't sound what will happen to the economy? What would happen to airplanes if we built them with cardboard?"
The Changing Face of the US Dollar
from Tangible Asset to a Fiat Currency
by Mike Hewitt
dollar bills The US dollar changed from a currency backed up by a tangible asset to a fiat currency.That being a paper note backed up by governmental promises. By looking at the history of American paper money one can clearly see the distinction. Compare the images of these historic dollar bills to those in your wallet today. Certain previously displayed phrases have been simply eliminated.

Moose Market
by Clyde Harrison
harrison One of my favorite quotes is, “Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for life.” Today in order to teach a man to fish, you need two fishing licenses, a state boat sticker, OSHA approved life jackets, EPA approved weights and hooks, you pay a park fee, obtain a fire permit to cook the fish and an EPA permit to dispose of the waste. Thanks to the government, fish you catch costs 8 times as much as the fish you purchase in the supermarket, caught overseas.

Understanding the Role of Gold in a Free Society
by Alan Greenspan
greenspan An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense - perhaps more clearly and subtly than many consistent defenders of laissez-faire - that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other.

 

Going, Going, Gone
This table is taken from a study at the University of Augsburg which estimates how long a natural resource will last if we consume at today's rate.
Source: New Scientist
COMMODITY USES YEARS TO EXHAUSTION
Aluminum Transport, electrical, consumer durables 1027
Antimony Drugs, flame retardants 30
Chromium Chrome plating, paint 143
Copper Wire, coins, plumbing 61
Gold Jewelry, dental 45
Indium LCDs 13
Lead Lead pipes, batteries 42
Nickel Batteries, turbine blades 90
Phosphorous Fertilizer 345
Platinum Jewelry, catalysts, fuel cells for cars 360
Silver Jewelry, catalytic converters 29
Tantalum Cell phones, camera lens 116
Tin Cans, solder 40
Uranium Weapons, power stations 59
Zinc Galvanizing 46


Suggested Reading

book The Creature from Jekyll Island:
A Second Look at the Federal Reserve
By G. Edward Griffin
book The Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets
By James Turk , John Rubino
       
book The Case for the 100% Gold Dollar, and What Has Government Done to Our Money?
by Murray Rothbard
book Gold Wars:The Battle Against Sound Money as Seen from a Swiss Perspective
by Ferdinand Lips