MONEY: Save all nickels

Saturday, December 15, 2012

http://lewrockwell.com/schiff/schiff190.html

Ditching Before the Fiscal Cliff
by Peter Schiff

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Turn on the TV and this is what you’ll hear: The US budget is heading for a fiscal cliff. If a deal isn’t reaching in Congress by the end of this year, a combination of automatic tax hikes and budget cuts will sink America into economic depression. There is no escape.

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Those buying into physical gold and silver see this inevitability and are getting prepared. We believe there is no sense playing Russian roulette with our savings. Every time Washington raises that debt ceiling or announces another stimulus, it’s like one more click of the trigger.

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OK, I get it. Everyone thinks I have a tin foil hat.

Talk to anyone who lived through the German pre-WW2 hyperinflation or the Great Depression. Or even the Carter inflation of the 70’s.

I get it. Buying Gold and / or Silver bullion is way out there on the lunatic fringe.

OK, how about accumulating “poor man’s gold”. Nickels?

If you won’t ask for a roll every time you go to your bank, then just don’t spend them when you receive them in change.

I have a couple of boxes on both my nightstands. If during the day, I get nickels in change I put them in my back pocket. When I get home, they go into the box and the “junk” goes into the “recycling bag”. (I take my change often anytime I go to the bank.)

Argh!

So here’s the gist of this money rant: (1) save all nickels; (2) consider buying bullion; but (3) don’t buy what you see advertised on TV. (Someone has to pay for the ads. Guess who? U!)

See you on the other side.

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