Ever since the creation of the Federal Reserve, the U.S. dollar has been backed up by the estimation of what its value is. Prior to that, we used to back it up with gold, ergo the gold standard. For those who don't believe that, check out the quick video we uploaded here on The Inquisitr all about it.
The fact that our dollar's value is also plummeting like a rock says a lot, especially with the creepy message about our dollar that was presented earlier this year. In short, we probably need to get rid of the Federal Reserve and back our dollar with a commodity, such as gold again. There is a reason why all that gold sits at Fort Knox.
It looks like that we won't be the first country to realize that backing our money with a commodity is a good thing. Reports are now coming in that Mexico now wants to leave the fiat money system behind and back out their currency with silver.
According to a report by Future Money Trends, events are unfolding presently that could ignite a straight-forward profit opportunity in the silver market. Just as we explained in the paragraph above, Mexico is poised to back up their currency with silver, which will have major global implications. Take into account that the country is also the 10th largest in purchasing power in the world. If they back up their peso with silver, their purchasing power will skyrocket and, quite possibly, surpass the U.S. dollar if we stick to fiat money and if Russia and/or China don't switch to gold.
The Daily Sheeple added more insight on the situation. The prospect is supposedly being downplayed but there is evidence that the most of the influential people in Mexico believe it is a realistic opportunity. Hugo Salinas Price, a multi-billionaire and the man behind the monetary push, offered this statement about pushing the silver standard:
"Take just three or four men out of the 'anti' group and we could practically get a unanimous 'yes' vote in both houses."
Just like the recent monetary shifts in Russia, China, and the Middle East which aim to divest themselves from the U.S. dollar reserve trade requirements, the news of a move by Mexico has been downplayed. If it does go through, this could be the reason for a shift in the balance of world power. Before you know it, people in the United States will "jump the border" to Mexico for a better life.
[Image via Bing]