Posted on : May 3, 2018 By buybullionNZ
If you hold fiat currency (US dollars, New Zealand dollars, Bolivars, Rubles, Yuan, etc), please consider the consequences: The purchasing power of each dollar you hold in cash or a bank account is quickly lost. This is monetary devaluation or commonly called “inflation”. The particular fiat currency you hold determines how much your wealth is being devalued in a given year. Hold US dollars? Then after one year, your dollars will be worth about 10% less.
Holding Venezuelan Bolivars? Then after one year, your bolivar will be worth about 1,200% less!
Inflation is an insidious problem and will likely get worse on a global scale. It is happening slowly as people do not realise it creeping steadily upwards… The best way to preserve the purchasing power of your wealth is to store it in gold or silver (and some argue certain crypto-currencies).
Got precious metals?