Macleod: The Future Of Money Is Gold (Not Crypto)

Years back I had what I consider insider information, if I had bought into the Bit-coin scam I would now be at least a multi-millionaire, and I knew that at the time.

My reasons for not doing so are my own.

However, I consider Bit-coin to be the Ratschild’s planned replacement fiat currency which they control no matter how many lies the Rat’s minions tell otherwise, which is to replace the Ratschilds other fiat usury currencies when they fail, pushing humanity into a world wide starvation and suicide festival.

The Ole Dog!
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Macleod: The Future Of Money Is Gold (Not Crypto)

This article explains why the successor money to failing fiat is gold, not cryptocurrencies. Cryptos can only act as stores of value so long as fiat exists. I describe how a world transacting with monetary gold and properly constituted gold substitutes works. It explains how and why unbacked bank credit expansion, which in natural Roman law was ruled to be fraudulent 1,800 years ago, can and should be eliminated in a post-fiat world, thereby ending destructive credit cycles.

Gold exchange standards, which are comprised of gold-backed money administered by the state, worked extremely well when properly implemented, and it is the siren songs of inflationism that are at the root of the current crisis. If the transition from worthless fiat back to gold standards is handled properly, an initial recovery to fully functioning economies need not take more than a year or so.

The pressure on future governments to reject inflationism in favour of free markets and sound money should not be underestimated. It is not rocket science. All we need are politicians in whose interests it is to see the light and have the determination to take their electorates with them. It will require them to hand back to individuals the responsibility for their own actions, enabling the requisite cuts in government responsibilities and expenditures to be made.

That child of fiat money, the welfare state and all the government actions to protect it will have to end, with the exception of the absolute basics.

The politicians to facilitate these changes do exist, though their voices are not heard. But the moment fiat collapses, we have good reason to believe they will re-emerge from under the misguided consensus they had been elected to deliver. It will be in their clear interest to do so, and monetary collapse giving birth to civil disruption can be avoided.

Introduction
While there is a growing consensus that the days of fiat currencies are finally drawing to a close, the debate about their successor is misinformed due to a lack of understanding about the qualities required of money. This growing consensus is still a minority view, triggered by cryptocurrencies and bitcoin in particular, with enthusiasts claiming bitcoin to be the money of tomorrow.

To be long-lasting, stable and practical, the choice of money should be down to its users. But governments have imposed state money on their populations for over a century now, half of which time they pretended their currencies were gold substitutes. That was until President Nixon ended the fiction by suspending the Bretton Woods agreement, and the unbacked dollar fully replaced the dollar notionally backed by gold as the international standard.

Bitcoin hodlers now like to claim that people will choose bitcoin to replace fiat, ignoring the impossibility of a completely inflexible settlement medium acting as money.

MORE:
https://www.zerohedge.com/economics/macleod-future-money-gold-not-crypto

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