Dig Deep The Difference Between Money And Currency - with Dana Samuelson
In the episode we chat to Dana Samuelson, President of American Gold Exchange who are a leading national precious metals and rare coin company specializing in dealer-to-dealer trading and direct sales to the public.
Dana has a wealth of experience in precious metals and rare U.S. gold coin buying and selling, starting this company over 25 years ago. He educates us about the history of the monetary system, why its important for everyone to have physical gold and silver especially in this current environment and what the difference is between money and currency.
KEY TAKEAWAYS
- When the US left the gold standard in 1971, the dollar was destined to lose purchasing power. A grass roots organisation was led to drive the re-legalisation of gold ownership.
- The ratio between gold and silver in value back in the 1930s was twenty parts silver to one part gold because that's how easily it was found without modern mining technology.
- Currency is a medium of exchange. Money is something that has an intrinsic value. Oil, for instance, is as valuable as money, but has no meaningful route to exchange.
- The biggest macro trend that people need to be aware of is debt. From 1795 to 1995 the US accumulated five trillion dollars in debt. Less than thirty years later they have accumulated a total of 31 trillion. Debt has increased exponentially.
BEST MOMENTS
'I got a real lucky break working for the godfather of our industry'
'Gold and silver were money and currency'
'Currency is something we use as a medium of exchange'
'The biggest problem is that the federal reserve has been coming to the rescue of the economy'
VALUABLE RESOURCES
Dig Deep – The Mining Podcast on iTunes
Dana Samuelson LinkedIn - https://www.linkedin.com/in/dana-samuelson-64793056
VALUABLE RESOURCES
mailto:rob@mining-international.org
https://www.linkedin.com/in/rob-tyson-3a26a68/
http://www.mining-international.org
https://twitter.com/MiningConsult
https://www.facebook.com/MiningInternational.org
https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3
ABOUT THE HOST
Rob Tyson is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first-world to third-world countries from Africa, Europe, the Middle East, Asia, and Australia. We source, headhunt, and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients' organisations in any mining discipline or level. Mining International provides a transparent, informative, and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.
CONTACT METHOD
https://www.linkedin.com/in/rob-tyson-3a26a68/
Podcast Description
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics