'There is no Geld but Gold, and in Exploration is Its Profit'
... just one of the ancient sayings we azteca like to chant when the market is closed and the Dow is not proceeding on its path to parity with our Noblest of Metals [pieces of eight be upon us]
A smallish nation with an educated population might be able to run its affairs on the gold standard, but in widespread use all that would do is get the politicians manipulating the bullion market even more than they do now, and restricting ownership as well ... better to leave gold out here in the wild as a parallel system, as free a market as possible, so that everything else bought and sold can be measured in it ... the financial reset button, as Jay has put it, 'a means of exchange and a store of value' like no other
Everything else is artificial, ephemeral, shakey, a raft of nebulous constructs reproducible in any quantity at miniscule cost with their nominal values depending on 'full faith and credit etc' ... faith-based money, what a ridiculous concept, might be useful enough for buying beer and tacos but you wouldn't want to sit on a pile of it too long, all fiat currencies advance inexorably to their intrinsic value of zero, and their larger denominations don't make good paperweights either, simply don't have the specific gravity, you see |
