The U.S. dollar is a funny thing. For one, it has no intrinsic value. If everybody stopped believing in it, it would have as much credibility as Santa Claus, the Easter bunny, and the tooth fairy.

Which is to say, not much.

And yet we spend a large portion of our lives working for these strange little paper bills.

I’ve had a number of new leads interested in my copywriting services lately. Unfortunately, everything falls into one of two categories: make money biz opp stuff… or… how to increase your sex appeal.

Basically, they are appeals to greed and vanity.

I don’t know. I just can’t get excited about these projects. There’s too much deceit (on the selling side) and self-delusion (on the buying side) involved in making such projects “work.”

Anyway, with what I see as the inevitable collapse of the U.S. dollar, it’s hard for me to get excited about much of anything related to money: earning it, saving it, multiplying it, etc. It seems like it’s all for naught.

And that brings me to silver.

About a week ago I got a letter from Investment Rarities offering me a free Silver Eagle if I would promise to read their 12-page report on silver.

Well, I’ve already done some reading about silver and have some interest in it. So I finally called on the offer today. Who knows? I may find myself invested in silver in the near future.

Here’s the thing about gold and silver: They are hedges against inflation and will give you some degree of financial protection when the dollar finally goes belly up.

The same is true of specie (hard money) in general. When paper money becomes worthless, coins become more valuable because they are difficult to reproduce. While the raw materials to print paper money are abundant, the raw materials to manufacture coins are harder to come by.

Makes me think twice about taking my coin jar to the bank. I think I’ll keep it for now. We could soon see the day when a 25-cent coin is worth more than a paper dollar.

Right now, God has blessed me and I’m in a good position to get through the holidays and pay my taxes in January. I’m thankful because that gives me some peace of mind and frees me up to focus on other things… like relaxation, spending time with family, and how to improve my business in 2009.

For now, I don’t expect to pay off much debt until February. Of course, I will keep you posted every step of the way.

As always, thanks for reading, and have a fantastic weekend. :-)

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Topics: Debt Reduction, Economics, Finances, Making Money | 3 Comments »

3 Responses to “Reflections on Money & Debt”

1. mbhunter Says:
   November 23rd, 2008 at 11:02 pm

   If you’re going to keep anything, keep pre-1982 pennies and nickels. They have a lot of copper. The other coins are made of really cheap metal.

   Check out http://www.coinflation.com for current melt value of US coins.

2. Carnival of Debt Reduction, Thanksgiving Week Edition | Mighty Bargain Hunter Says:
   November 24th, 2008 at 12:43 am

   [...] Debt Reduction Formula has some reflections on money and debt. [...]

3. Ryan Healy Says:
   November 24th, 2008 at 9:07 am

   @MBHunter – Thanks for the tip. I’ll check out that web site.

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