Historically, money has flip-flopped
between being asset based and being debt based.
Asset based monetary
systems, aka hard money, favor the net producer and saver, as the purchasing
power of savings is preserved well in a hard (not easily inflated) money system.
Debt
based monetary systems, aka soft money, like today's irredeemable fiat
system, favors the net consumer - i.e, the "I'll have it now and pay you
later (unless I default)" type of person.
Both hard and soft systems are barbarous relics that will go down in history as belonging to the monetary dark ages.
Unfortunately,
we are still in the monetary dark ages. The good news though is that
the day of monetary enlightenment will soon be upon us.
This
enlightened monetary system will have two halves - the debt half and the
asset half - the soft half and the hard half - the yin and the yang -
the debtor's fiat, and the saver's gold.
Welcome to Freegold.
There
is essentially only one rule in Freegold - only one law that needs be
passed to prevent the devolution of Freegold - and that is that the distinction
between soft money and hard money remain clear and unambiguous - i.e., that
the debtor's currency and the saver's currency do not mix - i.e., that gold
cannot be lent.
Practically, this simply means that IOUs cannot
be denominated in gold, or, put another way, that contract law requires
that disputes can only be settled in legal tender.
So, each to their own. The debtors and the savers need never conflict again.
The delusion...Value Investing
- Why it's the best long term investing strategy. Why most investors don't have what it takes. Why and how individual investors can outperform most fund managers, and why some fund managers are worth reviewing
Other stuff
- What is money, where did it come from, and where is it going? Some tax effective investment structures. The Australian Property Bubble. How investing, insurance, gambling, betting are all the same thing..
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