No, we don't think that would be a good idea.
Silver and it's big brother, gold, have long been a store of value. At one time the currency of the world, silver and gold still shine. In this article we look at some ancient and modern uses of gold and silver and consider their value as currencies.
Why Gold and Silver Make Good Currency...
Traditionally, currency (money) has been something of intrinsic value that is easy to store and divide into smaller quantities. It's also easy to transport and trade for something else. It will not spoil or lose value over time.
True Currency Has Intrinsic Value...
To be true currency, an item must have intrinsic value. Something has intrinsic value because it takes labor to make it or find it; or because it has value as part of it's inherent qualities, such as the ability to conduct electricity or to burn as a fuel or to be used to keep warm.
Commodities beyond precious metals fit this definition, including barrels of oil, BTUs of natural gas, animal furs or piles of firewood. Spoilage, storage, ease of transfer, spiritual views and of course taxability, all become factors in the choice of currency.
True Currency is Equal to the Labor for Which it is Traded...
The labor a worker trades for currency should be equal to the value of the currency. If a worker trades his/her labor for something less than equal to the value of his/her labor, that would be a scam in our book.
Equal trade...
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| Silver Bars |
Gold and silver meet this definition of currency, since these metals are difficult to find, making them rare and they take labor to extract and refine.
In this regard, an equal trade of labor for labor takes place when using precious metals as currency.
But What About Paper Money?
Paper money came into existence as a certificate representing deposits of gold or silver. Paper money made it easy to protect, transport and trade large quantities of the metals.
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Five Dollar Silver Certificate
{image PD-US} |
Now issued as Federal Reserve Notes, paper dollar bills were originally issued as Silver Certificates from 1878 to 1964. Silver Certificates could be redeemed for silver granules or bullion through the United States Treasury. As such they would be worth .35 ounces of silver at January 2016 prices, if they were still legally redeemable.
The same five dollar Federal Reserve note, on the other hand, if redeemed for actual labor production cost, would be worth .007 ounces of silver (about 10.5 cents) as of 2015. www.federalreserve.gov/faqs/currency_12771.htm
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Five Dollar Federal Reserve Note {PD-US}
Image courtesy of
National Numismatic Collection,
National Museum of American History
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Federal Reserve Notes came into existence with the Federal Reserve Act of 1913. Federal Reserve Notes represent a type of currency often called "fiat currency," meaning "currency by decree". They are not backed by any valuable commodity. All of the currencies of the world are at this time considered fiat currencies. Fiat currency make it possible for economies to expand through credit and can raise the standard of living for populations using them. They are not a good store of value, however, because they lose buying power as greater quantities are issued.
Misconceptions about Gold's Intrinsic Value...
To the casual observer, gold may appear to be a somewhat value-less metal used for adornment in jewelry and not much else. However, a review of the use of gold in everyday electronics, aerospace, medicines, medical instruments, cell phones, computers and other areas reveals that it is widely valued for its commercial applications.
Used in Billion-Dollar Projects...
Gold is especially valued for its long-lasting non-corrosive nature when used in billion-dollar projects, such as space stations.
An excellent description of the many commercial uses of gold can be found at http://geology.com/minerals/gold/uses-of-gold.shtml.
Ancient Spiritual Significance...
Yet to be considered is the possibility that gold and silver may be conductors of energies beyond electricity. Gold was viewed by the ancient Egyptian culture as having spiritual properties and was fashioned into objects of spiritual adoration.
Pyramids, Using Gold Caps -- Conductors of Scalar Energy?
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| Schematics: Pyramid with gold capstone and Wardenclyffe Tower |
The pyramids, using gold capstones, may have been used to generate this type of energy. This concept is recaptured in the work of Tesla's Energy generator known as the Wardenclyffe tower. The schematics for the pyramids and the generator are very similar, as shown.
The Gold or Silver Crown and the Crown Chakra...
Gold and silver's use in royal crowns of kings, shaped with spikes and seated on the crown chakra of the wearer, may be an indicator of an ancient awareness of the special energetic properties of these metals.
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British Crown
Image by DRONE
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The crown chakra is considered, among other things, to be a connection point between the human and the divine.
Rethinking Gold and Silver as Currencies...
In summary, the value of silver and gold as industrial commodities, metals of beauty and possibly substances of special energetic properties should not be overlooked. Returning to the metals as a store of value is worthy of debate since all world currencies are presently "fiat;" and not directly anchored to anything of intrinsic value.
Currency is life force in tangible form; and as such, its health and integrity determine the health and integrity of all societies.
images courtesy of :
Wikimedia Commons
Microsoft Office clipart
openclipart.org
galacticconnection.org
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| Whale Oil vs Crude Oil |
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The above article is based on our opinion and our observation only.
It does not represent the view of persons, service-providers, product-makers or advertisers cited in the article or appearing on this website. It is not being offered as investment advice or medical advice. Potential investors should seek out advice from qualified professionals before making investment decisions. Persons with health issues should seek health care advice from qualified health-care providers.
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