Thursday, May 03, 2012

Intrisic Value

One of the fictions we humans adhere to is the faith of gold having "intrinsic value".  Converts genuflect before the concept because of historical precedent.

But the argument has always fallen flat on me.  I understand the "tradition" of gold, but fear it will not provide the security as advertised, especially because the larger fish in this game will not hold the same faith when push comes to shove.

Salt and animal teeth shared similar traditions as well, and both were confined to the dustbin of history.  The future is about numbers on a computer screen that denote "value"...not some stash of gold hidden somewhere.  If you want an inflation and EOT ("end of time") hedge,  then feel free to join a "resilient community"

"Let me issue and control a Nation's money and I care not who makes its laws".  -Baron Rothschild

There are obvious problems with the current fiat soft currency system, which has a much different set of promises, values, powers, and abilities than a commodity system.  Increased flexibility is one of the benefits, but the usual considerations on monopoly apply here, and this is why All the King's Horses and All the King's Men have been mobilized to assuage the populace about the system's integrity.

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