Showing posts with label gold. Show all posts
Showing posts with label gold. Show all posts

Sunday, August 28, 2011

Savings?

I've been diligently saving money the last several years.  I set an automatic transfer to occur each payday so that $500 goes from my checking account to my money market account.  When I started out many years ago, it was $300 and it grew as my salary did.

I put the max in my 401(k) each year.

As a result, I have a pretty good amount of savings.  I know most people don't, so I should feel pretty good.  Right?

Then tonight I read a piece in the September 12, 2011 issue of Forbes called "The Price of Abandoning The Gold Standard".  The article describes the detriments of Nixon's decision to remove the US Dollar from the gold standard back in 1971.