George Soros talks about the need to crash the dollar for the sake of one world currency. how is this related to the banking crisis and cryptocurrencies?

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[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (5 children)

Silver, but not certificates. PHYSICAL. The cert price is super distorted compared to physical and is subject to extreme manipulation.

[–]Jesus 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (4 children)

Reddemable in silver. Reserves must be greater than the silver certificates issued, always. One can of course use silver. Every silver cerfitocate is redeemable for the same amount of silver.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (3 children)

Such "paper silver" is what's trading on the financial markets ATM and their price is hugely manipulated. Even at $27/oz you would be very lucky to get your hands on any physical silver at less than $35.

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Agreed, you would have to get good people to safekeep reserves. But people like paper. They don't want to haul around silver. Like I said, if you can always redeem your silver certificates for the same amount of silver, without denomination devaluations, then all is good. Also, get rid of banks and their interest parasite middleman.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Oh, we're talking hypothetical here...

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yes. Obviously, the radical republicans and losers who wamted to impose permanent public debt devalued the silver and eventually issued their paper currency into the money supply. Then passed a law making these debt bonds non-redemmable for silver.