Silver Bullion: The Most Affordable Way To Protect Your Wealth
By InvestingAnswers:
By Christian Hudspeth
From the market peak in May 2008 to the market low in March 2009, the S&P 500 lost a whopping 52.8% of its value. More than eight million jobs were lost. The unemployment rate nearly doubled from 5.4% in May 2008 to 10% by October 2009. But believe it or not, that wasn't a real financial collapse. Just ask any Argentinean. Back in 2001, after decades of a repeated inability to repay its national debts, rating agencies finally declared Argentina in "effective default." And then came the chaos. People rushed to their local banks to pull out what was left of their savings. On November 30, 2001, central bank cash reserves fell by $2 billion in just one day. The president was forced to freeze bank accounts for an entire year and imposed a strict $250 per week limitation on personal bank withdrawals. The next day, massComplete Story »
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