You get a visceral reaction when you hear "gold standard" and "gold is money" that is decidedly negative. The powers that be socially conditioned you to this. There is much confusion about the role of gold, and much misunderstanding about the role of credit, vs money.
Money is rarely used in a just, prosperous and peaceful society. Usually credit is used, or a asset backed currency.
When it's a just, prosperous and peaceful society. Credit (loans) is never at interest.
When it is a just, prosperous and peaceful society, currency, dollars and cents, is asset backed, usually by silver and gold. You may not have any yourself, but you have "warehouse receipts" (silver and gold certificates in your pockets) which represent gold and silver in the bank on your account. It is called currency because you use it for your current accounts. Your coins may be silver, but otherwise you pay off your debts at the end of the month with currency, not gold coins. None of us needs to own gold coins, but we do depend on the banks to issue asset backed currency, and we can never trust a government to do this. Did you know for the first 150 years of USA, this was a huge fight that went back and forth? Guess when USA was prosperous, and when it was in bust? To this day in Hong Kong private companies, three right now in that small place, issue currencies. At that rate USA should have at least 150 separate private companies issuing their own currency, all competing to be the best. Once upon a time in USA, it was thus. But now it is a crime to be a sound banker.
If this is silly, how come gold is so important to central banks worldwide, as I have shown in the last week?
The USA economy and peace, justice and prosperity went off the rails when USA went off the gold standard (lite). At that moment, the hegemon no longer had any rational check on its actions. War! Injustice (war on drugs)! Poverty (war on the poor)! And Kaching for the 1%.
This is of course capitalism, and free markets are free of force and fraud. But you know that.
Now comes Tyler Durden with some very interesting graphs and short essay, click here.
Feel free to forward this by email to three of your friends.
Money is rarely used in a just, prosperous and peaceful society. Usually credit is used, or a asset backed currency.
When it's a just, prosperous and peaceful society. Credit (loans) is never at interest.
When it is a just, prosperous and peaceful society, currency, dollars and cents, is asset backed, usually by silver and gold. You may not have any yourself, but you have "warehouse receipts" (silver and gold certificates in your pockets) which represent gold and silver in the bank on your account. It is called currency because you use it for your current accounts. Your coins may be silver, but otherwise you pay off your debts at the end of the month with currency, not gold coins. None of us needs to own gold coins, but we do depend on the banks to issue asset backed currency, and we can never trust a government to do this. Did you know for the first 150 years of USA, this was a huge fight that went back and forth? Guess when USA was prosperous, and when it was in bust? To this day in Hong Kong private companies, three right now in that small place, issue currencies. At that rate USA should have at least 150 separate private companies issuing their own currency, all competing to be the best. Once upon a time in USA, it was thus. But now it is a crime to be a sound banker.
If this is silly, how come gold is so important to central banks worldwide, as I have shown in the last week?
The USA economy and peace, justice and prosperity went off the rails when USA went off the gold standard (lite). At that moment, the hegemon no longer had any rational check on its actions. War! Injustice (war on drugs)! Poverty (war on the poor)! And Kaching for the 1%.
This is of course capitalism, and free markets are free of force and fraud. But you know that.
Now comes Tyler Durden with some very interesting graphs and short essay, click here.
Feel free to forward this by email to three of your friends.
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