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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: marcos who wrote (57924)	3/27/2008 1:19:34 AM
From: pogohere	Read Replies (2) of 78421

I read Stephen Zarlenga's "The Lost Science of Money," (www.monetary.org). Extremely interesting--especially the thesis that western Europe--from the days of the Romans on--sent its silver east to India where the gold-silver ratio was more favorable: i.e., twice as much gold for silver as in the west. Therefore, it behooved everyone who could to control the Middle East as that's where the trade routes were concentrated, until the Portuguese sailed around the Cape in the early 1500s. Henry the Navigator, et. al. Makes understandable Venetian politics in the Middle Ages. Also begins to suggest that the so-called Dark Ages could have been a centuries long deflationary depression due to the lack of commodity (gold/silver) money--a system the Romans actually successfully shunned during the run up to and the creation of the Republic when they devised a bronze coin system wherein the coinage represented far more value--by govt order--fiat!!--than the coins were worth as metal. This has befuddled numismatists ever since--because as adherents of a commodity based monetary system, some numismatists thought the Romans were being primitive and foolish. The demise of the Republic followed the use of silver that was legalized during the Punic Wars. This trend continued and led to the rise of a new monied aristocracy that controlled the silver and shipped it east, accumulated vast estates (latifundia) while disenfranchising and rendering landless the average Roman citizen and pursued war policies while importing eastern religions (Middle East) along with eastern commodity monetary systems. The Republic was destroyed while the armies chased booty, gold and silver all over to replenish the supply of money--now thoroughly based on a commodity based system. Hmmm. Maybe the monetary system of the Roman Republic--using bronze-- wasn't so primitive after all (?)

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