Posted on 07/22/2020 5:16:49 PM PDT by RandFan
What could he possibly mean? Could he be suggesting that our fiat paper money is little better than toilet paper.
Ooh! I like that saying.
WD40
My, that’s a mighty fine rhetorical question you have there.
Money is a non-physical something, perhaps akin to energy and life, that we use to represent and value the wealth we create.
Gold and silver are ancient representations for money
Paper certificates were a representation of gold and silver money
Paper notes are a representation of faith and trust
Gold and paper can both fail if the supply of money rapidly increases compared to the wealth the people create. Spain experienced inflation when they imported gold and silver from the Americas. Governments can more easily manipulate paper and probably always will because it’s too tempting and too easy to do.
“Gold is money. Everything else is credit.” — J.P. Morgan
Paper money? That idea is so 2010.
Which makes it too scarce and valuable to use as currency or as a monetary base.
Gold and Silver are Constitutional money. There is no other Constitutional money.
ML/NJ
But why gold instead of a choice, dividend paying stock? And just where do you store your gold that a thug with a gun cannot menace you into giving it up?
That depends on who controls Congress and the White House.
Store them in your work boots?
IDGI either?
So true!
A depository.
Which has charges and fees and security risks of their own.
Exactly!
And digits fit so much better with social credit scores.
We had a severe one in 1929, a few smaller ones before 2000 when we saw a pretty big one, and a bigger one in 2008. Looks like the MOASMOD might be next.
The Emperor just printed about 4 trillion more in the last couple of months, and of course the price of TP has already started adjusting accordingly.
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