I’ve been giving a bit more thought to the issue....
First of all, KitJ’s point (from the Bible) is apt: “Don’t store up your treasure on Earth where moth and rust do corrupt. Store up your treasures in Heaven.”
But as a practical matter, we need to have savings and we need to have a means of transacting business. The vast majority of us do, anyway.
IMO there is NO perfectly secure monetary system. They all have flaws, but some are far more flawed than others.
Paper money can burn. Coins can melt.
Gold and silver are not easily converted. When was the last time you bought a loaf of bread with gold? Also, if you buy/sell gold, there is a hefty premium.
Right now, most of us have something that in some ways is even less secure than paper money. We have bank balances and investment accounts and all sorts of things that we can’t hold in our hands. If I get a piece of paper every month that tells me how much money I have in the bank, how spendable is that? Only so long as the bank honors it and people will take my checks.
Crypto/blockchain has its own flaws. If that were adopted for currency, EMP warfare or maybe even unusual solar activity could disrupt the whole system. As both a plus and a minus, all transactions are essentially public and permanent. That’s a plus if you want to track the bribes that politicians are taking, but a minus when spammers and scammers can go after you based on too much public info.
My biggest takeaway from the X22 reports was that the banksters set things up to crash, leaving the average schmo (you and me) holding the bag. They cover up by creating “events” - like wars or other things we’re not allowed to discuss on FR.
To: TEXOKIE; KitJ
generally posted:
I’ve been giving a bit more thought to the issue....
First of all, KitJ’s point (from the Bible) is apt: “Don’t store up your treasure on Earth where moth and rust do corrupt. Store up your treasures in Heaven.”
But as a practical matter, we need to have savings and we need to have a means of transacting business. The vast majority of us do, anyway.
IMO there is NO perfectly secure monetary system. They all have flaws, but some are far more flawed than others.
Paper money can burn. Coins can melt.
Gold and silver are not easily converted. When was the last time you bought a loaf of bread with gold? Also, if you buy/sell gold, there is a hefty premium.
Right now, most of us have something that in some ways is even less secure than paper money. We have bank balances and investment accounts and all sorts of things that we can’t hold in our hands. If I get a piece of paper every month that tells me how much money I have in the bank, how spendable is that? Only so long as the bank honors it and people will take my checks.
Crypto/blockchain has its own flaws. If that were adopted for currency, EMP warfare or maybe even unusual solar activity could disrupt the whole system. As both a plus and a minus, all transactions are essentially public and permanent. That’s a plus if you want to track the bribes that politicians are taking, but a minus when spammers and scammers can go after you based on too much public info.
My biggest takeaway from the X22 reports was that the banksters set things up to crash, leaving the average schmo (you and me) holding the bag. They cover up by creating “events” - like wars or other things we’re not allowed to discuss on FR.
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Generally, you make some important points about the vulnerability of all forms of money. That may be one reason we should heed the old saw, “don’t put all your eggs in one basket!”
Your last paragraph is my biggest takeaway also.