For thousands of years, man has been trading with Gold and Silver being used as the instrument of trading, be it in the form of a coin, a raw nugget, or Gold dust gathered from months of panning. Since the dawn of time, man has recognized Gold as a true object of value in which he could store his wealth. Even today, man still recognizes Gold as a comodity of value representing wealth that will always have value.
in the beginning of the settlement of North America, each of the thirteen colonies began to issue printed paper promissory notes to pay a debt later. They were traded throughout the colonies like the fiat dollar is today, all holding a note produced by a Commonwealth Bank. These instruments of debt were more akin to the Federal Reserve Treasury Bill that banks of today use to store semi-liquid wealth with rather than holding on to the ever diminishing dollar.They both are a promise to pay back later rather, unlike the fiat dollar which only has the word of the government that it has value and nothing else.
The first actual currency issued by the Continental Congress in 1775 was to help with the cost of defending the colonies from King George as he continued to impose his will on the colonies. This new Currency issued by the Continental Congress rapidly became worthless because there wasn’t anything of value backing it. When asked, the Colonies were also economically floundering. Kind of like the U.S. Dollar of today, just paper printed with actually no promise to pay value. When you think of this, why do Americans continue to place their trust in trading with a currency that holds no value other than the common belief that it does.
When I was a boy, My Dad took our family back to Butte Montana where he had lived the first half of his life. While visiting a store up town, he gave me a $5 bill to buy something. When the shop clerk opened the register, he pulled out 3 Silver Dollars and gave them to me as change. My dad, in response told me, to paraphrase him, ” here in this mining town, Silver is trusted over paper”. What has changed so much in our society where everyone has abandoned real wealth for a Government’s worthless promise?
In the beginning where there was so much larceny and trading of fake Colonial notes, our Forefathers were wise in placing their trust in a Gold and Silver standard by continually trading with the real thing, Gold and Silver coinage as well as a Bullion backed Dollar that could be redeemed at any time. Banks were issuing Gold backed notes and the Feds backed the Dollar with Silver. In 1933, we were transitioned over to a Gold Standard, although the silver Certificate remained as the instrument of trade in our Country until 1964. Since the3n, our fiat currency has been totally worthless and yet we still accept the devaluing Dollar while watching any value that it may have had collapse before our eyes. As for me, I am preparing for a new future economy here in Missouri by saving with Gold and Silver.
Thomas Strike jr.
do not need someone else’s approval to spend.
do not specify where they can be spent, or what they can be spent on.
are anonymous — there is no need to know who you are to spend them.
generate no data on your transaction for third parties to record.
can be spent, traded, or purchased with no fees.
can be quickly counted to know exactly how much you have on hand.
can not be frozen in your account by a payment processor.
are not a ‘counterparty’ instrument.
are not eaten away by account or storage fees.
do not need layers of hardware and software to operate at the point of sale.
have universal value worldwide via their precious metal content.
can be carried on your person.
do not depend on their supply or scarcity for value.
do not need electricity, the internet or hardware to have value.