Return to Honest money - FOFOA

[Ragnarok]

http://fofoa.blogspot.com/2011/05/return-to-honest-money.html

Discussion of what it would take to have an honest money system again, one that would last - and the answer is very elegant, it turns out.

Somewhat long and involved, but a must read and understand imho.

R.

[Buster]

Thanks for the heads up. I recently recommended FOFOA to a CFP acquaintance who said he was interested, I will advise him of this latest post.

It really is a comprehensive essay on the subject. The establishment types need an explanation that does not rock their world too much. ;D

[Ragnarok]

That's true, Palani, and is why I posted this link. The more people know, the better, but the first government to grasp the concepts in that article will be far ahead of the others. If I understand correctly, the Euro is/was designed with "freegold" in mind. And yes, there will be those who will not want to give up the power they have acquired via fiat. We will just have to wait and see which path they choose.

R.

[Ponce]

Every government always wants to be BIGGER than the "money" that they have at hand........specially when making war upon the world, as we are.

[Nomoss]

Yes let's Get on a standard. How about the one in the
CONSTITUTION! That's a SILVER standard! NOT GOLD!
What is a DOLLAR???
It's time to wake up the dead.
Thanks for the link.

[Uncle Salty]

Yes let's Get on a standard. How about the one in the
CONSTITUTION! That's a SILVER standard! NOT GOLD!
What is a DOLLAR???
It's time to wake up the dead.
Thanks for the link.


FOFOA explains why silver is not the best money anymore. It's highest utility is that of an industrial metal, not a monetary metal. Have to say I agree. That isn't to say silver won't become quite valuable, but it will be for its industrial applications, not its monetary designation.