Greenspan

Policy #8: Bimetallic is Better- Flaming Fake Fiat vs. the Real Deal

Policy #8: Bimetallic is Better- Flaming Fake Fiat vs. the Real Deal

Discussing the need for a gold and silver monetary standard is probably one of the easier ones. Let’s do a thought experiment. If I wrote a bunch of numbers on a piece of paper and asked you for your prized possession, would you give it to me or tell me where to go? Probably the latter. Now if I did the ‘nuclear muscle flex' it would be the former.

Think about this at a national level. Countries sell oil, clothes, minerals, food, and other goods/services for these nothings – be they represented by pieces of paper or bits-and-bytes on computer-storage – does that make sense? It doesn’t. It comes down to belief: belief that there is value in something that possesses no value – unlike gold and silver, which do have intrinsic value