Showing posts with label Specie Money. Show all posts
Showing posts with label Specie Money. Show all posts
Wednesday, October 5, 2011
Specie Money: Gold Vending Machines
Sorry I'm so late with this post. But the latest thing in Specie Money is gold vending machines. As the Globe and Mail reports, China is the latest the join the craze.
Friday, July 15, 2011
Undernews: Return of Specie Money
Another important story largely flying under the radar is the return of specie money, as distinct from fiat money.
This piece in the Daily Telegraph describes the "Return of the Gold Standard as world order unravels". In these troubled times, people are seeking money that has intrinsic value: the value lies in the metal contained within the coin, rather than the value the object represents, like a paper dollar bill.
I see no need to abandon the concept of fiat currency. But I am interested in the growing movement to have a second currency circulate alongside. I see it as another early warning signal, like Walter Russell Mead's observation about the Singapore economy begin the canary in the coal mine of the world economy.
This piece in the Daily Telegraph describes the "Return of the Gold Standard as world order unravels". In these troubled times, people are seeking money that has intrinsic value: the value lies in the metal contained within the coin, rather than the value the object represents, like a paper dollar bill.
I see no need to abandon the concept of fiat currency. But I am interested in the growing movement to have a second currency circulate alongside. I see it as another early warning signal, like Walter Russell Mead's observation about the Singapore economy begin the canary in the coal mine of the world economy.
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