Money is changing forever. The old world of government currencies and central banks will soon die out. New media of exchange have begun their conquest.
How do we know? The signs are everywhere. If you know where to look.
First, gold. Usually too valuable to be used efficiently as a medium of exchange, gold has languished in modern times as the ultimate backup for the paranoid to stash under their floorboards. Peter Schiff seems bent on changing that. The CEO of Euro Pacific Capital, Schiff offers precious metal bank accounts, including a debit card that allows the use of gold and silver in everyday transactions around the world. But he didn’t stop there. Schiff is now promoting a card-sized sliver of gold, able to be broken into small pieces of about a $50 value each. If there exists a product better designed for a situation where the Dollar/Euro/other currency collapses with a flamboyant crash, I have yet to see it.
But forget emergencies. Some folks in New Hampshire are already using precious metals for day-to-day transactions. Just look at Shire Silver, plastic cards containing different-sized strands of silver in ideal amounts for small exchanges. The biggest obstacle to alternative currencies has been practicality. It doesn’t appear that this will be an issue for very much longer.
Finally, today’s star of the show: Bitcoin. The online crypto currency has seen a meteoric rise in recent weeks. It’s too soon to be able to say that Bitcoin will be a permanent and viable alternative medium of exchange. However, there is one sign that fully cements its legitimacy in today’s marketplace: local governments accepting Bitcoin. Servants of its monopolistic competitor are caving in. That’s how you know that government-backed paper currency’s days are numbered.
Liberty is rising. A new era of free, unregulated money has dawned. Plan your finances accordingly.
Photo cedit: Andrew Bowden