Framing the Dialogue

Posts Tagged ‘silver’

Money Mischief

Silver and gold, silver and gold
Ev’ryone wishes for silver and gold
How do you measure its worth?
Just by the pleasure it gives here on earth 

 

Actually according to economist Milton Friedman a lot of people wished for silver and gold as a monetary standard (bimetallism), but the gold standard was slowly and steadily adopted by the world. That is before “fiat” money (currency not backed by a commodity like gold or silver) became the rage and allowing governments to crank up the presses. These are my words not Friedman’s.