Sublime

Elemental gold approximates what Nick Szabo called unforgeable costliness. Brilliantly anticipating contemporary pushback against “wasteful” Bitcoin mining, in Shelling Out, Szabo explains, At first, the production of a commodity simply because it is costly seems quite wasteful. However, the unforgeably costly commodity repeatedly adds value by ena

When one can manufacture money and credit and pass them out to everyone to make them happy, it is very hard to resist the temptation to do so.

Because interest-bearing debt accompanies all new money, at any given time, the amount of debt exceeds the amount of money in existence.

Joaquin Aguirre

stewards

Money becomes necessary when the range of our gifts must extend beyond the people we know personally.

For a hard-core group of gold bugs fiat money is in so much trouble it is a matter of urgency that the world should return to the system of gold-backed money that dominated the global economy at the end of the 19th century. Much of their argument — made by the likes of the Gold Standard Now campaign — rests on gold's track record over many centurie

Our economy would be more resilient to big changes and would have fewer disruptions if there were more diversity in the ways in which we make exchanges, store value and keep our accounts.

fiat currency