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<p>[QUOTE="rrholdout, post: 2887218, member: 89654"]Well, as far as history, just focusing on U.S. 19th century, paper vs. specie was a major polarizing issue for political parties as well as citizens. Andrew Jackson wanted a return to specie, and no paper. He also was the only president to ever run the federal gov't at a profit and to pay down the national debt. So it was sustainable. Jacksonian democrats continued this position for a more rural sustainable economy throughout the 19th century, culminating in the late 19th with a strong push for a silver-backed dollar. Republicans at the time believed instead in an industrial economy that was pro-growth regardless of debt . . . to over-simplify. So it's an issue that has deep roots even in our own fledgling society.</p><p><br /></p><p>As far as bitcoin . . . anything digital is more of the same for me. My wife and were talking the other night about how much our perception of money and wealth has radically changed over the last few generations. Increasingly our 'wealth' or 'value' is a digital figure on some remote database. As dinosaurs . . . we're uncomfortable with that. We like tangible things, that we secure ourselves. But honestly we're way out in left field back-to-the-lander 'Little House on the Prairie'-reading super-dinosaurs. I'm curious what the more mainstream position is here on the forum. Are we really that confident that silver will come into its own, correct its ratio to gold, and actually matter again, in a big way? Or are we just attached to old ideas?[/QUOTE]</p><p><br /></p>
[QUOTE="rrholdout, post: 2887218, member: 89654"]Well, as far as history, just focusing on U.S. 19th century, paper vs. specie was a major polarizing issue for political parties as well as citizens. Andrew Jackson wanted a return to specie, and no paper. He also was the only president to ever run the federal gov't at a profit and to pay down the national debt. So it was sustainable. Jacksonian democrats continued this position for a more rural sustainable economy throughout the 19th century, culminating in the late 19th with a strong push for a silver-backed dollar. Republicans at the time believed instead in an industrial economy that was pro-growth regardless of debt . . . to over-simplify. So it's an issue that has deep roots even in our own fledgling society. As far as bitcoin . . . anything digital is more of the same for me. My wife and were talking the other night about how much our perception of money and wealth has radically changed over the last few generations. Increasingly our 'wealth' or 'value' is a digital figure on some remote database. As dinosaurs . . . we're uncomfortable with that. We like tangible things, that we secure ourselves. But honestly we're way out in left field back-to-the-lander 'Little House on the Prairie'-reading super-dinosaurs. I'm curious what the more mainstream position is here on the forum. Are we really that confident that silver will come into its own, correct its ratio to gold, and actually matter again, in a big way? Or are we just attached to old ideas?[/QUOTE]
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