The Daily Bell – STAFF REPORT – Dec 9, 2013
It always seemed to us – throughout this ongoing bitcoin mania – that gold and silver were perfectly good alternatives to a wretchedly complex digital system. Granted, they are not directly as fungible as bitcoin, but they’ve been around for millennia. That’s more than bitcoin’s few years. Go to story
The qualities of the cause (positive and negative) are manifest in the effect. The seed of an apple tree potentially contains everything you see in the existing full grown apple tree from which it was produced. The Bitcoin adventure in currency creation was generated from the fiat money system which it proposes to circumvent by sophisticated technology and encryption.
Everything in nature, either organic living beings, government, business or educational institutions, along with stationary structures, buildings, mountains, and even land masses, must and does undergo six stages of transformation: 1) they are born, 2) they grow, 3) they produce some by products, 4) they remain for some time, 5) they dwindle or deteriorate, and 6) they vanish or die. There is no exception to this natural law; it is a question of time, place and circumstance only. History is a record of perpetual monetary failure in every culture, country and system of government. They have all failed, regardless of their system or medium of exchange – gold, silver, copper, paper, etc.
The pivotal point in regards to an honest, practical and efficient monetary system is the government – man or men – managing the money must be HONEST. Paper money in and of itself is not bad; neither are gold or silver coins intrinsically good. When gold and silver were in usage, the political leaders clipped or debased the purity of coins.
What is really at issue: the leaders of government must be HONEST men of character. We cannot avoid the necessity of one perfect man as leader by electing dozens or hundreds of immoral, imperfect men. But this is precisely what democracy is–third, fourth and fifth class men who systematically lie, cheat and plunder the public.
The conclusion is: gold and silver are certainly the best medium of exchange, but unless we have GOLDEN and SILVER LEADERS, that also will fail. The leader must be GOLD and SILVER in character, and the money must be gold and silver. Then we are good to go.