A fantastic piece by Joe Lange.
A fun fact I didn't know from the article was the creation of the Deposit Act of 1836!
Our young nation, under the bravery of Andrew Jackson, decided not to renew the charter of the "Second Central Bank"! By the mid 1830s, the United States Government had COMPLETELY PAID OFF ALL DEBTS, after being heavily indebted due to war! On top of that, we actually had a tremendous surplus from both tariffs, as well as selling Federal Land (Trump loves tariffs)!
🔔 What the Deposit Act of 1836 allowed was the spreading of Federal revenues to State Banks, which spread out this physical Gold and Silver from the British controlled cities along the east coast, into the interior of the United States! A subsequent Executive Order in 1836 by Andrew Jackson required that all Federal land sales of over 320 acres, must be settled in "specie", aka Gold and Silver!! This technique more or less cut off the British Fiat game at its knees, albeit temporarily. This essentially drained the bank of England's Gold and Silver accounts! The trade wars heated up when Britain required all exporters to the US to likewise settle in specie! 🔔🔔
This current war is an economic war. When we start to see Gold and Silver at the forefront of trade (little by little by little, and then all at once as my friend Andy Schectman says), alliances and enemies alike will be formed! And for the few that can understand the necessity for something physical in a world quickly transforming into digital, what happens if other countries start to accept Bitcoin as "modern day specie"? If any of you read the Pomp report, I suggested on one of his most recent posts that if Bitcoin is the "Adam", is Silver the "Eve"? Because "what is money" has evolved over time, and through different cultures! Regardless of your views on the digital currency, it is evident that some of the population around the world are evolving to prefer to accept Bitcoin as money, whereas many other cultures would prefer a Silver standard! If you do business with Miles Franklin (my preferred precious metals dealer), the only two ways Andy's company offers instant clearing of your payment to clear and ship your metals out, is via a bank wire, and BTC!!
A SILVER STANDARD, SAY YOU?! Who holds the Gold? Central Bankers. Gold does end the Fed. But the Fed and the Gold could go down together. How pumped is Gold , relative to Silver? Seriously think about that...This might be a highly controversial topic, but it's one that I'm currently fascinated with.
It seems both the Silver and Bitcoin communities need each other, like Adam and Eve needed each other. Because Adam could and did exist without Eve for a time, but he knew he was missing something. So God created Eve from the rib of Adam. Both communities may feel similar. And in my world view, it takes the act of both the initial "redemption", followed by the ultimate "transfer", that maintains transparency and honesty within ANY system!! Do you hold a digital version of Gold or Silver? Have you ever tested its "redemption" features? If you don't hold it, you don't own it. Knowing the world we live in, that statement is a cold hard Truth. Because the only redemption I know is certain resides in the Truth, which is Jesus, the son of God. But if we the people are true sovereigns, and we know through the Bible that we cannot inherit the Kingdom of Heaven with the spoils of riches on Earth, would we not want to structure the next "FINANCIAL EVOLUTION" of our nation, built upon a solution that both solves the Byzantine Generals problem, intertwined with something as sacrosanct as physical Silver for the people? 👀🗝️
"Where's the State of your Digital and Physical Stack"? Anything digital but BTC is an IOU because it doesn't solve the Byzantine Generals problem. Anything but Physical Silver has been rehypothecated, manipulated and twisted, to keep us all ignorant on the affairs of the world; particularly, the historical significance of Silver.
Truly fascinating times we live in. God bless 🙏🏻🕊️
Great article!
My comment on Pomp (like and comment!!): https://open.substack.com/pub/pomp/p/bitcoin-is-not-a-popular-medium-of
@familyman20181
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