Fiat money is what we use today. It’s essentially money created out of thin air, on a spreadsheet, by banks and governments via monetary policy, and it…
Gold has been used as money (or a store of value) for thousands of years. It’s always been valuable to humans, for some reason, and it’s withstood everything history has thrown at it.
Fiat money is what we use today. It’s essentially money created out of thin air, on a spreadsheet, by banks and the government via monetary policy, and it has absolutely nothing backing it. This is why currencies come and go, such as the Zim Dollar which lasted a few decades.
Bitcoin is an interesting spanner in the wheel, mind you, and it’s one about which precious metals consultant Claudio Grass has mixed views. For good reason; cryptocurrency is very new and is invisible. It’s nothing more than computer code dependent on electricity and an internet connection.
But, like Bitcoin, gold and silver have something special about them.
They exist outside of the central banking system. They represent a type of independence; a kind of sovereignty.
I find that appealing.
Claudio joined me for a conversation about all of this.