Somebody has come up with innovative idea: 24kt gold foil notes. They can be used as money and they’re not issued by a government. From Jeffrey Tucker at The Epoch Times via zerohedge.com:
The U.S. dollar could someday go the way of all paper-currencies past and be consumed in a hyperinflationary fire. It seems unlikely but it is possible. In some ways, given the reckless policies of the past three years, we should be perhaps surprised that it hasn’t happened yet.
If the dollar loses its status as the international reserve currency – again, not likely anytime soon – that could provoke a massive repatriation of U.S. dollars which puts the end times in motion.
For many decades now, the United States has benefitted from the export of its dangerous policies but in a globe no longer dominated by the dollar, the costs would be quickly and painfully felt at home.
But these two scenarios are not the only beckoning threats.
What if under intensified digital surveillance and a Central Bank Digital Currency (CBDC), your ability to spend your own money – whether to get food, pay the rent, or flee the country—comes to be severely circumscribed? What will you do then?
This is worth thinking about right now. The critical question is: are there alternatives available out there that can perform a monetary function domestically that are untied from the dollar itself?
The most obvious example is precious metals, gold and silver in particular.
The other day, a nice person gave me a roll of old silver dimes. They are so wonderful, a great reminder of a time when money was independent of state control. The dime in those days was worth its value due not to the government stamp but to its actual value in specie. Today we cannot even imagine such a thing.
There was a man about 20 years ago who was part of a trade organization who decided to supply coin that could be traded. It was not meant to imitate the current fiat currency and was not declared to be ‘money’ but was quickly accepted in the organization and began to circulate facilitating trade. When the government stepped in they knew they couldn’t charge him with counterfeiting because he wasn’t trying to imitate the Federal Reserve phony money so he was charged with economic terrorism and give a 20 year sentence.
Interesting that the ‘banking’ professionals are immediately alarmed at anything that might threaten their monopoly when presented with the gold foil notes.
As much as Bitcoin is admired for being currency I wouldn’t trust it at all. It has no value. No one knows how much there is. Worst of all there is no value. I could pay a owed bill of $100 in Bitcoin, it’s value could decline tomorrow and the person I paid would only have $50. I would not accept Bitcoin.
The problem with trying to pay with precious metals is if the provider is paying his bills with fiat currency or the CBDC he has no way to transfer funds. It will only work in a limited circle of friends and like minded people who can accept it and keep their business functioning.
If the government will not allow such transactions to take place and is willing to use violence to enforce their desire using precious metals will be very limited.
Although the central banks keep precious metals on hand, the government just needs to declare that owning gold and silver is unlawful (as it did during the great depression) and your property will be forcefully removed from you and at best you might get a discounted value that would have restrictions on its expenditure.
Chad
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