Quote:
|
I'm curious- does it make any sense to you to tie monetary policy to the amount of a few particular metals dug out of the ground in a given year??
|
Of course it makes sense. We want our money to have a great store value, We want our money to be almost non destructible. We want our money to also serve as a precious commodity used in industry and jewelry worldwide. We want our money to be tough and costly to produce so nobody can create money at will to fix the interest of "special group". We also want our money to serve as a tool to stop government massive deficit spending ( inflation ).
Gold and Silver seem to fit that requirements well, that's why our money used to redeemable with precious metal, but then someone decided to say "Hey , why don't we just buy up the oil of Saudi with a stack of paper that's non redeemable with anything precious". The world accepted the deal graciously as the almighty America, clearly had the biggest gun in 60-70s that nobody dared to challenge. Gold and silver is honest money, where as the dollar system is based on the power of the issuer of money ( a better words for hegemony ). When that faith & power is gone ( ex, the Saudi no longer accepts cheap and easy dollars for their oil ). You will have a run on currency so fast your eye will spin.
YouTube - Rich Dad 2008 Predictions - Part 4 Quote:
|
Gold is God's made money , paper money is man's made money ...
|
Take my post with a grain of salt ya ?
