In Praise of the Penny
By Jack Perry
April 14, 2016
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Consider this: If I back my dollar with gold, there are only so many dollars I can print because gold is a finite thing. No one will be able to accumulate too many of those dollars because, sooner or later, they’re going to have to part with them if they want to eat. But if I can print unlimited cash, unbacked by anything, I’m not even limited by the supply of paper! I can use a computer to say, “There! I just created ten billion dollars to issue to Slob Junction Central First National Bank!” After all, hey, we’re going to electronic transfers and people are saying we don’t even need the fig leaf of paper money to hide the fiction of the currency. Therefore, people can hoard immense sums and when there’s a shortage of available currency because it’s being hoarded, they just print more. Or open up a computer program and create more out of thin air and electrons. Same thing. That’s what creates “income inequality”, not wages.
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It’s no secret that I’m a gold bug.
When the <synonym for excrement> hits the fan and the Gooferment can pay its bills, guess what will happen?
Of all the “fun things” that might happen, the one that worries me most and that I have personally seen is INFLATION.
When the value of paper money or “electronic dollars” goes into the toilet, I bet a roll of nickels will be worth something. Never mind an ounce of silver or gold.
Remember that’s what many USED to be.
Twenty dollar gold piece had real value.
“We, The Sheeple” are so dumb.
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