Should We Use Gold and Silver as Money?
I’m not sure on this. Gold and silver are good wealth protection investments but that’s only because it remains the same value relative a fiat currency like the U.S. dollar. Once we start using gold and silver that benefit would likely end as South Carolina adjusts to this. How would we use gold coins, for example, to pay off a $3,000 debt when the gold is $10,000 an ounce? Will people gives us $7,000 in gold and silver which, as thee dollar continues to be debased will increase in value so that they are giving you too much change or pay you in increasingly worthless dollar bills?
I’m mulling this over: