Gold And The Future Of Money ~ The Gold Blog


Gold And The Future Of Money

When I see governments all around the world trying everything in their power to prop up failing systems or ideas like central banking, fiat currency, legal tender laws, and even the attempts of trying to control the economy, it is disturbing to say the least. If you have read my older post Why The Gold Standard Is Not Enough, You will know that I am not an advocate of a government gold backed currency but an advocate of privately issued currencies by everyone, once it is backed by goods or services and valued in silver or gold. That being said I do acknowledge the supremacy of Gold and Silver as money in the past and likely the future.

With governments around the world seeing themselves as the solution to the economic crisis and not the cause of it, they will continue to use more governmental intervention in the economy to the detriment of their true masters their citizens. What is breaking down is the myth that central control of something is superior to a decentralized smaller more responsive approach. If we take a look at most of the institutions that are failing they are the institutions that benefited the most from easy available credit because of the unsustainable dishonest central banking system.

I believe the future of money will be tied to gold and silver and be decentralized. With the growth of the internet and the transfer of information becoming easier and more innovative; it will be a matter of time before most people will be able to anonymously trade digital representations of resources that no person or government will be able to track or tax. Since gold and silver has a reputation of holding purchasing power and a universal acceptance it will be likely to be denominated in one or both.

Governments will likely use excuses of illegal activities or tax evasion to try their best to discourage this activity. Just like how pirating music movies books or software can not be stop by governments; anonymously trading of resources or representations of resources will also be problematic for governments to stop. Something like this can be a double edged sword because of its potential misuses but will also be a way of trading cheaply and privately. All in all if something like this does become widespread it is in my humble opinion it will be more honest and ethical than the central banking system most nations have in placed today.

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Gold And The Future Of Money ~ The Gold Blog