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<p>[QUOTE="InfleXion, post: 1642418, member: 29012"]Gold and silver were the measuring stick before fiat paper took over that role in 1971. Today with paper traded markets the relationship they have with currency is out of wack. If not for price discovery being based primarily on proxies that make the physical market irrelevant barring a shortage then PMs would still be a reliable measure of currency. Since that is not the case their role as money and the core measure of value is being circumvented to extend dollar dominance. So you are correct as it stands, however PMs have never failed to return to their role as money over the course of history so a correction is due. </p><p><br /></p><p>Silver is classified as a commodity, but before that it has been money, and before that it has been an element that is different from all other non-metal commodities because it can't be created. So again you are correct, but it's only a small part of the picture. To treat it like a common replicatable commodity is erroneous because it doesn't grow on trees like fruit or fiat currency. It should be preserved as it is necessary for human advancement, and that would happen if it wasn't classified incorrectly. We are shooting ourselves in the foot by squandering it.[/QUOTE]</p><p><br /></p>
[QUOTE="InfleXion, post: 1642418, member: 29012"]Gold and silver were the measuring stick before fiat paper took over that role in 1971. Today with paper traded markets the relationship they have with currency is out of wack. If not for price discovery being based primarily on proxies that make the physical market irrelevant barring a shortage then PMs would still be a reliable measure of currency. Since that is not the case their role as money and the core measure of value is being circumvented to extend dollar dominance. So you are correct as it stands, however PMs have never failed to return to their role as money over the course of history so a correction is due. Silver is classified as a commodity, but before that it has been money, and before that it has been an element that is different from all other non-metal commodities because it can't be created. So again you are correct, but it's only a small part of the picture. To treat it like a common replicatable commodity is erroneous because it doesn't grow on trees like fruit or fiat currency. It should be preserved as it is necessary for human advancement, and that would happen if it wasn't classified incorrectly. We are shooting ourselves in the foot by squandering it.[/QUOTE]
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