Not derlict, not plastered, but 1/2 way there I'm not professing wisdom, just common sense. I think I've just read more then my share of anti-system threads this week. You can only piss into the wind so much, you will remain wet until the wind changes. I think I will just chill now. Oh, and you suggesting that I am a trouble maker is funny :lol:
No, supply of paper money is not restricted and unfortunately paper money is constantly manipulated for political reasons. That's why every paper currency dies after several decades of usage. However, given all this, those who think that we'll use PM coins in everyday life in the foreseeable future are dreaming. With all its disadvantages, fiat is much more convenient than PM and the whole world for the last century developed financial systems to deal with paper/electronic currency, not PM money. As I said in the first post, fiat already won. Just look around. Because ultimately people realise that token itself doesn't matter. The trust in the token is what matters. I think in the future people will try to design a currency, which is not easily controlled by the governments. Some sort of bitcoints or whatever. Gold and silver will probably still hold some value, but their monetary role is long gone.
I bolded some parts of your reply. I agree with the first bolded part, it is not useful to be trading gold and silver coins as a medium of exchange. Second bolded part - 'already won'? You said yourself that fiat currencies die. Third bolded part - Bitcoins are a ponzi. But you're probably right that we'll lean more towards an electronic medium of exchange. That doesn't make them any less fiat though. Regarding currency in general, at the moment our fiat currencies are trying to fulfil the medium of exchange, store of value, and unit of account properties all at the same time! The funny thing is that most PM stackers tend to hate fiat currency purely because of its poor store of value property, not the other two. If you want to understand more of that, I suggest reading FOFOA.
Be that as it may, i still like the idea of roughly one day's work being able to purchase you a Half Sovereign ( or similar ). Do you know when in history of any nation, an average citizen was able to purchase gold of roughly 1/10 for a days work?! im not even gonna answer this one I can use gold as money today. People 100 years ago could too, people 1000 years could too, 2000 thousand too,... thats intrinsic enough for me. . . But i do get your point.
Heres my 2oz's worth: Gold/Silver/Platinum/PMs have instrinsic value because it never changes with time. You can store it indefinitely, all the gold we have on this planet has been formed since the birth of our solar system. There is no other substance on this planet that performs this role. (Enlighten me if there is.) Its instrinsic value is devived from this point as it takes energy to extract and cannot be created out of thin air. Why does anything have value? It is because said item is choosen by the majority and used as a currency of exchange. So naturally gold was choosen throughout history. But in the last 80 years fiat currency has been the misleading choice. I believe at some point in the future when the sheeple wake up they would demand something that is more solid then a debt based promise (a currency based on trust and constantly changing value). It is the collective people that will decide what they want to use in the future, not the government. This is because us plebs actually do the real productive work to produce things. Not the paper rich bankers skimming on every transaction or the wasteful government shuffling fake wealth around in a cycle. Once the real item of instrinsic value is selected, that will be the currency of choice. I don't think it will be a paper or electronic system. Nothing else lasts forever unchanged besides the PMs listed above. So naturally I believe the sheep will slowly move to a system that includes PMs. Hedge yourself, keep some PMs, a place to live, stack food and keep some cash on hand. I have always said it. If you can make fiat now, then fiat is still worth something. Exchange it for something that maintains value while you still have some time. Whether this fiat system dies or not, if you have excess fiat. What are you going to do? stack fiat? you might as well transfer it to an asset that maintains value (whatever that may be). Slam
