Articles NewsFlow Gold & Silver Prices Market Briefing

Recevez notre Marketbriefing

In the same category

pat.fields.16
Member since February 2013
8 commentaries -

0 followers

has posted a comment on the article :

We Cannot Get Away from Gold or Silver

- Hugo Salinas Price - Plata.com

Excerpt: "Only when the number of units becomes totally unwieldy is the inflating fiat currency finally rejected, in favor of some alternative fiat currency (no recourse to gold or silver being possible at present.)"

Neither statement above is true. Resolution of (inevitable) banknote failures hasn't always been to replacement banknotes. Also, gold and silver can very well be re-introduced rather quickly ... with the proper groundwork laid onto which they'll rush into trade again ... at proper rational valuation.

For too many centuries and generations. we've been subliminally conditioned to disdain copper money, yet it's absolutely indispensable to support the financial 'walls' of silver's framing under the 'roof' of gold. Without copper in its proper 'base' role of small money, silver must be undervalued to suit the purpose in handy sized coin ... by turn, leaving gold too, constantly wobbling in mis-valuation and thus forcing the falsely perceived 'need' for banknotes because neither metal, even combined, comprise enough quantity to act as rational divisor for all other goods in a current market.

The American banknote for example, has two cents of its original hundred cents purchasing power remaining today. There is no good reason why all 'liquid' banknotes can't be converted to six and a half gram copper coins called 'American Currency Unit', announcing them as exchangeable pari passu for banknotes. All wages, prices, accounts and financial super-structure would remain numerically unchanged without disruption and silver would almost immediately trade between 80 to 100 of the coppers per silver-weight for daily needs of 'small money.

So, very respectfully Mr. Salinas-Price, you see 'recourse to silver and gold' is rather quite reasonably 'possible at present'.

Commented 3719 days ago

Send

Beginning of the headline :It is remarkable how billions of human beings are using fiat currencies in the world today without any understanding at all of what they are doing. Curiosity and intellect are indeed very limited in supply amongst humans. Humanity is living and attempting to make a living by the use of fiat currencies – gold and silver as means of interaction between humans are not available today. And humans are quite ignorant of the fact that the fiat currencies they use have each of them a HISTORY behind them... Read More

Reply to this comment

You must be logged in to comment an article

8000 characters max.

	RSS feed		24hGold Mobile
	Gold Data Center		Gold & Silver Converter
	Gold coins on eBay		Silver coins on eBay
	Technical Analysis		Fundamental Analysis