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Far too many people in the world stake their future and indeed the future of their families on the illusion<br />
known as paper or fiat currency which is popularly known as legal tender. Paper <strong>money</strong>, which isn’t backed or<br />
under-girded by anything, is nothing but an accident waiting to happen. There was a time when printed paper<br />
<strong>money</strong> was backed by Gold and it was called the Gold standard. For every $dollar of printed <strong>money</strong> that was in<br />
circulation there was a $dollar’s worth of Gold set aside to guarantee it.<br />
The American government gradually removed the $dollar from the Gold standard until they abolished it completely.<br />
Today the $dollar is not backed by anything, and with America’s debt situation spiralling out of control<br />
with debt figures approaching £20 Trillion $dollar’s, it is only a matter of time before the dollar crashes completely.<br />
The only reason why the dollar has not collapsed is because it is still the currency of international trade, but<br />
even that has not shielded it from the economic quagmire of devaluation and diminishing buying power which<br />
as clearly demonstrated in the table below.<br />
69<br />
Table showing the devaluation of the American dollar over a 100 year period<br />
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