20 Jul '12, 3am

The @SilverVigilante looks at metals prices in terms of bitcoins, like the Gold-BTC ratio. Forgetting the FRN: #Bitcoin

The @SilverVigilante looks at metals prices in terms of bitcoins, like the Gold-BTC ratio. Forgetting the FRN: #Bitcoin

No longer can SV perpetuate the illusion of the Federal Reserve Note, the US dollar. Many of my articles have discussed the precious metals, in particular silver, in terms of the Fed Note. All the while, I reported that the Fed Note was, for instance, not a medium of exchange, but a “medium of control.” Nonetheless, I marched on in a haze of cognitive dissonance, determining prices via the measurement of a declining asset. I hadn’t yet completely broken free of the gallows of the monopoly-money slaveship, with its red, yellow, blue and green bills. By writing about precious metal values via the keystone money of the dominant culture, I too was perpetuating a myth that had destroyed the world. But, now I endeavor to never again think of the precious metals in terms of the Fed Note again. The Fed Note is not an asset, a store of value or even a money. The FRN is, as I have w...

Full article: http://silvervigilante.com/forgetting-the-frn-perpetuatin...

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