Bankrupt - What Does It Mean?

What is the definition of bankrupt? The dictionary definition is "judged legally to be unable to pay off personal debts, completely lacking in a particular quality, especially in good or ethical qualities, somebody who is unable to pay his or her debts".

So let's consider that in light of the current global economic crisis. Basically, the countries of the world are bankrupt, including the United States. They are unable to pay off their debts.

As a matter of fact, not only can they not pay off their debts, or speaking of the United States, not only can it not pay off its debt, its currency is debt currency. The currency is called "Federal Reserve Notes".

So what is a "note"? Well, if a person has a note at the bank, it means they have a loan from the bank on which they are paying...for a house, a car, a business, something.

So we have a bankrupt nation, in debt, using debt currency. And, going back to the definition of "bankrupt", it involves something "completely lacking in a particular quality". That quality that debt currency lacks is true value. It has no value, it is a note. The only value it has is that which is traditionally afforded it by reason of use of society. It is accepted for daily use even though it is debt currency.

Is there anything that is not bankrupt? Yes, there is a true money that has never been bankrupt. What is that, you ask? Gold.

Gold has historically held its value through the centuries while numerous currencies have failed throughout history.

There is a swing back to gold. There are problems, though, with holding certain forms of gold. If gold is government issued gold, it can be confiscated. If a person decides to sell his or her gold, the responsibility lies with the seller to prove the value of the gold. And finally, if a person owns a gold coin, or an ounce of gold, and the paper currency totally fails, how will that gold coin or ounce be used in commerce? You wouldn't go to the local grocery store and buy, say, $100 worth of groceries with an ounce of gold.

What is the solution? Use LBMA certified gold, gold with the highest form of certification recognized worldwide. Use LBMA certified gold that is in gram amounts, which makes it more usable for transactions in the marketplace.

LBMA certified gold is a gold that will not go bankrupt. It has real value.