September 27, 2021

We tend to look at ancient cultures with awe. It seems like the Ancient Egyptians, Greeks, and Romans knew something about life that we don’t. Even though they were great at literature, math, and science, they were also good at the economy.

For example, all of these civilizations used gold as a form of currency. The last dictator of Rome was Julius Caesar. Before he was assassinated, he created a new form of currency, which was called aureus, which was made by using around 0.3 ounces of gold. Visit this link for more info

In the metric system, that would amount to eight grams. That quickly became the most widely used currency in today’s Europe, as well as its counterpart which was called the denarius. Of course, the second type of coin was made with silver. It might surprise you, but using these coins made the lives of their people much easier than today.

Using a form of hard money like the denarius and the aureus forces everyone to save and invest. That increased commerce and made the entire Roman Republic more stable. As soon as a new emperor came to power, the old money system had to go. Nero wanted to make the image and the memory of Caesar disappear.

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For that reason, he started collecting all of the old coins and melting them into new ones. Apart from doing that, he also added other metals, which devalued the currency. If the previous ones had eight grams of gold, the new ones had four. That means that half of the gold was used for his own selfish needs. If you’ve ever heard about the term inflation, then that’s precisely what happened.

Starting from Nero, all of the other emperors that came after him decreased the number of precious metals in their coins. Of course, the people were quick to notice, and they developed a plan. They hoarded the coins which had more precious metals in them, and they used the newly minted ones for commerce and obligations.

It’s one of the first examples of legislation. Just like in the modern economy, after a couple of years, the prices of older coins skyrocketed, while the newly minted ones lost value. You can visit page for more info. Even though all emperors used different methods to boost their economy, nothing truly worked.

The basis was devalued, and anarchy, corruption, and riots followed. The whole fabric of society was destroyed in less than a couple of centuries. Now, think about the modern age. We’re making more progress than ever before. But our currencies are only linked to the trust in government. That’s not a good basis. If something were to happen, the consequences would be dire.

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How can you secure your future?

Let’s fast forward a couple of hundred years into the future, all the way to 1970. Up until then, the gold standard was up and running. Coins made from silver and gold were tangible assets, and you could go to the bank and exchange a bar of gold for a pile of money.

The whole point of paper money was to make trading in precious metals easier. As soon as you take the precious metals out from the mix, then the whole system starts to crumble and melt away. Now, let’s look at the main two individually.

Silver was a more salable metal when you look at all the scales. It was the best medium to use for small transactions. That means that your daily shopping for groceries would have been easier if you carried a bit of silver.

More expensive purchases, such as a car payment or a house, would be much better if they were transacted in gold. Banknotes were created which represented these metals, and the government could only issue out as many banknotes as there were precious metals in their safes.

Even though the governments were the first to create this standard, they later facilitated the abolition too. As soon as the standard started gaining traction, it expanded swiftly across the globe. Telecommunication channels and trade routes were faster, which made the process much easier. As more countries started joining in, the force of the network became stronger.

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This pushed the incentive even further. The ones who joined last had the most problems adapting, which at that time were India and China. That scenario always happens when a soft form of money comes into contact with a hard form of money.

For that reason, getting a precious metals IRA is the best option for securing a great future. Eventually, the fiat currencies are going to disappear from the world. The free market always presents a solution to specific problems. When it comes to currencies, the only solution that the free market can give is precious metals.

Why do you need an IRA?

There are plenty of advantages to having an IRA. The first benefit has tax advantages. You could enjoy your retirement without paying loads of taxes to the government. Plus, that gives you more flexibility when it comes to investing. You are the person who picks what kinds of institutions will hold it.

The choice is mainly between banks, websites, and brokerages. Depending on who you trust most, you can choose either a traditional route or a self-directed one. Most of the time, the fees will be minimal, and you only need to put a little bit of your earnings each month in order to profit in the long run.

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