You've gotta peg your currency to something, and silver is as old as the Bible. I'm no financial and economics expert, but from what I've seen, silver seems like the best-bet. I don't necessarily disagree with you though, as commodities do have their limitations and downsides.
Not to mention that silver is so manipulated its not even funny. The silver to gold ratio is like 73 to 1. I think in a real world it would be more like 5 to 1 as far as ounce value goes. Silver at 22 and change an ounce is a joke. It also means it's never too late to start acquiring. There's so many trillions of debt out there right now...not enough gold and silver to cover that debt and new currency without a revaluation.
Im just thinking out loud here, but the bulk of backing an economy with silver and gold is backing off the commodity value. Adding other commodities artificially grows the economy when you dont have more silver and gold. Sure they might turn to other metals. Like copper. But eventually every natural resource a country has becomes a comodity that backs the currency.
Silver tarnishes over time, gold is less reactive. Silver does seem practical due to cost but that may be subject to extreme change. It's actually in demand in industry, which could make it scarce.
But that just really leads to an overall commodities based system. Which includes oil. Which puts everyone right back where we were.
Unless everyone goes electric.
You've gotta peg your currency to something, and silver is as old as the Bible. I'm no financial and economics expert, but from what I've seen, silver seems like the best-bet. I don't necessarily disagree with you though, as commodities do have their limitations and downsides.
Not to mention that silver is so manipulated its not even funny. The silver to gold ratio is like 73 to 1. I think in a real world it would be more like 5 to 1 as far as ounce value goes. Silver at 22 and change an ounce is a joke. It also means it's never too late to start acquiring. There's so many trillions of debt out there right now...not enough gold and silver to cover that debt and new currency without a revaluation.
Agreed, Fren, I'll be adding to my stack again soon!
Im just thinking out loud here, but the bulk of backing an economy with silver and gold is backing off the commodity value. Adding other commodities artificially grows the economy when you dont have more silver and gold. Sure they might turn to other metals. Like copper. But eventually every natural resource a country has becomes a comodity that backs the currency.
So hear me out. What if you don’t have to peg your currency to something and we are just told that to keep us in the matrix. Kek.
Silver tarnishes over time, gold is less reactive. Silver does seem practical due to cost but that may be subject to extreme change. It's actually in demand in industry, which could make it scarce.