Technically, you do not need to mine gold or silver to leverage it. It can be scientifically proven, and used as a means to underpin a paper/electronic payment system.
In essence, all hard assets can be used like that. And with the diversification or rather refining of earth, new elements come to the forefront, allowing for a diversification of the underpinning: market value - production cost.
On the other hand, current production needs to make allowance for liquidity to support trade through the production -> consumption column.
Between these two extremes, there is the hard money in circulation. So you could have that plus a more elastic though limited amount to allow for liquidity to slow down or increase the speed of money circulation.
Personally, I am all for one system, the above ground gold/silver part, but eh .... it requires the system to reset in a way that throws a shadow.
Think of the homestead act. It was meant to provide for all participants to have a shot at staking a claim and obtaining allodial title to land. Though currently it is played out over the mortgage & taxation scheme. (think Trump's abolishing of the death-tax)
Thanks for this post. Had this conversation with someone in here not long ago. Came from Nevada where 75 percent of u.s. gold is mined. Mining is so big its in the Nevada state Constitution..
Word is we have a reserve of gold, silver and other precious metals completely mapped out veins, sideways looking radar, core samplles and assaying was supposedly done and a value was determined and kept secret. The idea was to collateralized it and leave it in the safest vault that exist. Nobody is moving it.
Technically, you do not need to mine gold or silver to leverage it. It can be scientifically proven, and used as a means to underpin a paper/electronic payment system.
In essence, all hard assets can be used like that. And with the diversification or rather refining of earth, new elements come to the forefront, allowing for a diversification of the underpinning: market value - production cost.
On the other hand, current production needs to make allowance for liquidity to support trade through the production -> consumption column.
Between these two extremes, there is the hard money in circulation. So you could have that plus a more elastic though limited amount to allow for liquidity to slow down or increase the speed of money circulation.
Personally, I am all for one system, the above ground gold/silver part, but eh .... it requires the system to reset in a way that throws a shadow.
Think of the homestead act. It was meant to provide for all participants to have a shot at staking a claim and obtaining allodial title to land. Though currently it is played out over the mortgage & taxation scheme. (think Trump's abolishing of the death-tax)
Thanks for this post. Had this conversation with someone in here not long ago. Came from Nevada where 75 percent of u.s. gold is mined. Mining is so big its in the Nevada state Constitution..
Word is we have a reserve of gold, silver and other precious metals completely mapped out veins, sideways looking radar, core samplles and assaying was supposedly done and a value was determined and kept secret. The idea was to collateralized it and leave it in the safest vault that exist. Nobody is moving it.
AS Q said: we have the Gold!
Thanks for this little gem!