Sunday All the power of fiat currencies devolve from Gold. If Gold’s stability of value had never been transformed, via coinage and bars, into a known weight and fineness – i.e., money – then we would still be trading by barter and living in primitive farming communities alongside rivers. Fiat is a deceit based on an ignorance of what money really is. Fiat money, and … [Read more...]
Gold Demonetized?
Wednesday Gold cannot be ‘demonetized’, any more than water can be ‘dewatered’. Gold is money; nothing else is or can ever be. A known weight and fineness of Gold is the definition of money. It is always money, irrespective of whether it is in circulation or hiding or forgotten about or confiscated - whatever. It is still money. Something cannot become money … [Read more...]
The Value of Everything
Thursday I read a piece by Keith Weiner a few days ago mentioning bitcoin and Gold. “Whatever the merits of gold may be, going up faster than bitcoin is not among them.” Readers of this blog will know that I am a big fan of KW; he is that rarest of beasts, an original and clear thinker, and not just on the subject of Gold. His piece brought to mind something that … [Read more...]