I too am zealous in my desire to do away with the dictatorship of fiat currency. I also understand the need to talk up bitcoin for those who have risked their money in its purchase. It seems, however, so much simpler and direct to just use real gold and silver instead. When I put my savings into precious metal I personally hold or into an allocated vaulted gold arrangement outside of the banking system, then I am successful in not allowing banksters to use my wealth in the furtherance of their corrupt schemes.

As to the portability issue, there are many existing ways to make one's gold and silver holdings more portable. One can choose from many blockchain systems like Kinesis Money or Quintric, or precious metal holdings connected to old fashion debit card processing as provided by companies like GoldMoney, or for easy to trade within an IRA trusts like PHYS. Indeed, there even exist today gold bonds that can be purchased with metal and pay interest in metal. All these systems make it easier and quicker for the average person to use real gold and silver to achieve the dreams expressed in your article TODAY instead of waiting for the crypto space to sort itself out.

As public awareness of the pending monetary crisis becomes more and more widespread I believe the public will favor “easy-flow” real gold and silver over the complexities of managing a secure bitcoin wallet and dealing with its volatility. Also, I believe governments will do whatever it takes to retain their sovereignty and would feel much more secure letting gold return to its traditional historical role as a way for giant economic players to settle trade imbalances than to lose control completely to bitcoin.

The current monetary system is indeed shaky, but on the way to collapse there will be many ways for governments to beat bitcoin to the punch in terms of sound money adoption by the common man. For example, countries with large precious metal mining output or large precious metal reserves could monetize that metal again. That would definitely piss off the powers to be at the IMF and Central Banks, but if the fiat system is indeed shaky then such countries will be able to get away with it anyway.

For example, in Mexico, there is a movement to have the country which supplies about 25% of the world’s annual silver production to declare to the standard one-ounce Mexican-mint-produced Mexican Libertad silver coin a peso value significantly higher than the spot price of that much silver along with a government guarantee that the peso value of such coins can be adjusted upward in the future but never down. Merchants would be obligated to accept payment with such coins at that declared value. That would be an instant non-inflationary gift from the Mexican Congress to the current Libertad holders in Mexico of about 10 billion pesos. That would also cause a significant increase in the spot price of silver worldwide and thus have a favorable impact on Mexico’s trade balance. All the Mexican government would need to do to keep Thomas Gresham’s famous “Law” on the government’s side is to keep the declared value for its coins higher than the spot value of the metal in the coin. Such an immediate and simple way for the common man to protect his meager savings would be wildly popular. The amount of fiat money quickly converted to sound money would quickly dwarf bitcoin’s market cap.

If gold and silver had always been allowed to flow freely and efficiently would bitcoin have even be invented? If gold and silver flow freely and efficiently in the near future will bitcoin ever be widely adopted?

Call me old fashioned, but I’m sticking with real gold and real silver.

Oh, and by the way, many schools of Buddhism do not define Nirvana as a real existent possibility, but simply as a metaphor for enlightened awareness with enlightenment itself necessarily expressed in mundane worlds such as ours through acts of compassion. In this case, universes are imbued with life itself and their ebb and flow is ultimately mysterious.

SGI Buddhist, Loves Irish and Latin American Literature, History buff, knows a great deal about Medicare

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