Download Gold: The Once and Future Money by Nathan Lewis, Addison Wiggin PDF

By Nathan Lewis, Addison Wiggin

This e-book is written in very transparent language, and it does not insult anybody's intelligence. It builds up all of the the reason why gold concerns as a foreign money backing. It additionally explains why it is so significantly very important for a citizenry to call for their govt no longer devalue or debase the forex. Governments have used such a lot of tips to make the people's funds worthy much less. america is, regrettably and unfortunately, no varied during this regard. Taking our cash off the most fulfilling and permitting inflation to be monopolized through the Federal Reserve is egregious. This publication indicates it up so truly!

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It has been thoroughly tested, and it works. Those who are confused by today’s conventional wisdom are more likely to throw up their hands and swear it cannot be done. Nonsense. It can be done; it has been done; and if history is a guide, it will be done again. qxp 3/22/07 2:34 PM Page 19 CHAPTER 2 HARD MONEY AND SOFT MONEY Currencies and Economies around the World—from the Seventh Century BC to the Twenty-First Century AD After experience had shown that pieces of paper, of no intrinsic value, by merely bearing upon them the written profession of being equivalent to a certain number of francs, dollars or pounds, could be made to circulate as such, and to produce all the benefit to the issuers which could have been produced by the coins which they purported to represent; governments began to think that it would be a happy device if they could appropriate to themselves this benefit, free from the condition to which individuals issuing such paper substitutes for money were subject, of giving, when required for the sign, the thing signified.

Soft money is, literally, monopoly money. History has produced a natural cycle between hard and soft money, which has also typically been a cycle between government and private market control over the monetary system. The world is now in a soft money cycle; there are no hard currencies today. The citizenry prefers the most stable money possible as a foundation for contracts and trade. However, certain interest groups may influence the government, or the government may be seeking an advantage of its own, or the government may simply be grasping for solutions in a time of crisis as it turns once again to the monopolization and manipulation of the monetary system.

It is pointless to verify the weight of an electrum coin, since the proportion of gold to silver is unknown. The Lydian coins were not made of natural electrum but of a manufactured alloy, which allowed the kings to lower the gold content and increase the silver content compared to natural electrum. The stamp on the coins signified that the coins passed ad talum, by their face value, as though they were made of natural electrum, although their commodity value was perhaps one-third of this. To maintain the coins’ artificial scarcity, a variety of laws were enacted to create an effective government monopoly on the production of electrum, gold, and silver.

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