Throughout history, NOW, and in the coming potential monetary chaos, precious metal is REAL Money. The last time paper currency was still considered money, It plainly said:
“This is to CERTIFY that there is ON DEPOSIT in the Treasury of the
United States of America
________ Dollars in GOLD, PAYABLE TO THE BEARER ON DEMAND”.
Not any more! Today only the precious metal itself has VALUE, and WEIGHT is the measure, not its valuation in some nation’s FAILED FIAT CURRENCY name. The store of VALUE is not in equivalent FIAT currency, but in equivalent metal weight, based on familiar historical denominations of Tenths, quarters, half- and Full OUNCES of Gold and Silver.
In this blog, I will also profess my belief that super inflated ‘certified’ coins are no better hedge against inflation in a worldwide fractional-reserve currency crisis than super inflated paper notes. If a complete monetary system breakdown does occur, there will be far fewer commodity sellers who will care that your coin is shinier than the next guy’s, when you are competing to buy bread or grain, or gasoline. An ounce is an ounce.
I have nothing against collectors, nor numismatics. In fact, I was one of the most prolific and successful exonumia creators in modern American history, minting over 8 million tokens for the Olympic Games.
Here however, I am proposing an entirely new paradigm in the Language of Money… not denominated in the vernacular of national CURRENCIES, but in the ORIGINAL historic concept, of Lira, Pound, Peso -the WEIGHT of a given amount of Precious Metal.
What is needed in the new paradigm is describing a new unitary basis of measurement, which is traditional, divisible, available, and fungible… a measure of exchange AND a STOREHOUSE of VALUE… against which all national fiat currencies, or any other good or service can be measured in comparative value.
I invite you to begin thinking of Money, not currency, in your accumulation of your surplus work product, quantified by established, quantifiable units of Precious Metals. Introducing the “UNO” decimal system of Precious metal money currency.