Credit cards, debit cards, cash ... you get my drift, will soon be a thing of the past with how the value of a dollar isn't what it used to be with our not so great economy. Provident metals will be the thing of the future and the way to barter. Advanced metal is much more valuable and universal than money and will be something we always want. (Image by kenteegardin via Flickr)
As defined in Merriam-Webster, barter means "to trade by exchanging one commodity for another." This basic definition can be expanded to include "without using a medium of exchange such as money."
Bartering has been used for many years and is specifically used when the economy has taken a hit and the dollar becomes less valuable.
Read below for an example of how bartering can be used:
Joe is a painter whose truck needs a new set of brakes and an oil change. Joe's friend Frank is a car mechanic, and it just so happens that Frank needs a room painted. The two agree - Joe will paint Frank's room and Frank will fix Joe's truck.
Since both friends need things that have the same monetary value, they conclude that one will fix the truck while the other paints the room.
While the arrangement works in this example, that's not always the case. What if Frank needs the outside of his house painted, but Joe only needs the set of brakes and oil change. Joe will not benefit from taking such a large job and getting so little in return. Maybe Frank should sweeten the deal by adding a couple ounces of silver?
This is the basis on which monetary systems were formed - a medium of exchange, be it gold, silver or a currency like the U.S. Dollar - allows Joe to pay Frank for only the work he needs done, and Frank can either find another painter, or pay Joe the appropriate amount to paint his house.
I bet you are wondering now exactly how bartering comes into effect with today's economic conditions and precious metals.
With the dollar declining in the U.S. and the economy just going down more and more, this has brought about the rise of bartering even more recently.
It has become more common for individuals and businesses to use silver coins like 90% junk quarters and others to "barter" or "trade" for goods and services. Cumulatively though, these barter networks are quietly shifting things away from a fiat currency like the Dollar and into precious metals.
The proper way of bartering with precious metals:
The challenge with bartering using pre-1965 quarters/dimes, or another coin such as those approved by the American Open Currency Standard, is figuring out if you're giving the right amount for the goods or services you're purchasing.
...More at What is Barter?
Better hop on the precious metals band wagon and throw your money out the window now because your dollar won't be worth much soon.
As defined in Merriam-Webster, barter means "to trade by exchanging one commodity for another." This basic definition can be expanded to include "without using a medium of exchange such as money."
Bartering has been used for many years and is specifically used when the economy has taken a hit and the dollar becomes less valuable.
Read below for an example of how bartering can be used:
Joe is a painter whose truck needs a new set of brakes and an oil change. Joe's friend Frank is a car mechanic, and it just so happens that Frank needs a room painted. The two agree - Joe will paint Frank's room and Frank will fix Joe's truck.
Since both friends need things that have the same monetary value, they conclude that one will fix the truck while the other paints the room.
While the arrangement works in this example, that's not always the case. What if Frank needs the outside of his house painted, but Joe only needs the set of brakes and oil change. Joe will not benefit from taking such a large job and getting so little in return. Maybe Frank should sweeten the deal by adding a couple ounces of silver?
This is the basis on which monetary systems were formed - a medium of exchange, be it gold, silver or a currency like the U.S. Dollar - allows Joe to pay Frank for only the work he needs done, and Frank can either find another painter, or pay Joe the appropriate amount to paint his house.
I bet you are wondering now exactly how bartering comes into effect with today's economic conditions and precious metals.
With the dollar declining in the U.S. and the economy just going down more and more, this has brought about the rise of bartering even more recently.
It has become more common for individuals and businesses to use silver coins like 90% junk quarters and others to "barter" or "trade" for goods and services. Cumulatively though, these barter networks are quietly shifting things away from a fiat currency like the Dollar and into precious metals.
The proper way of bartering with precious metals:
The challenge with bartering using pre-1965 quarters/dimes, or another coin such as those approved by the American Open Currency Standard, is figuring out if you're giving the right amount for the goods or services you're purchasing.
...More at What is Barter?
Better hop on the precious metals band wagon and throw your money out the window now because your dollar won't be worth much soon.
About the Author:
With the value of the dollar not doing so great, you are questioning what is best to invest in? Sienna Nalin has the answer for you which is advance metals. Click here to learn more about bartering
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