Wednesday, February 13, 2013

Clueless about money

There are clueless people out there.  I try to not be one of them.

I saw this question about buying silver: "But who are we going to sell back to when we need money someday?"

Seriously?  Silver IS money.  The "money" the person refers to is fake.  It is only money because people believe it is.  Don't trade your money for Federal Reserve Notes unless you find someone who prefers fake money.  And, in that case, someone more intelligent will always be happy to trade you so that you can pay the economically ignorant person.  At least until "dollars" are no longer an option, in which case the FRN-preferrer is gonna be out of luck.


1 comment:

  1. At the risk of seeming like total misanthropic a-hole.. They'll get it when the local auto mechanic won't fix their truck even though they have a wheelbarrow full of Jeffersons to pay him with. He'd rather deal with the guy who'll pay him with silver coins. They'll get it then. Sadly the ones without the silver or barter items will either suffer or even die, or be forced to take up stealing and robbery. Then the medium of exchange will be cold steel or lead. Too late they learn.