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In this exclusive interview, Hugo Salinas Price share his views on precious metals, provides some historical background on gold and silver money, the manipulation of the precious metals markets, the inevitable collapse of the fiat money, and more…
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Hugo is exceptionally well informed and thoughtful about money and the practical aspects of monetary systems.
This is especially useful in these times of the more eccentric notions of money that virtually ignore history and
practical issues.
Paul Krugman's 'trillion dollar platinum coin' comes to mind.' John Law lives again.
What Hugo is proposing has nothing to do with schemes of the past such as John Law. He is proposing an antidote to the excesses of fractional reserve banking.
The "dollar" or "peso" value of the silver unit is only meaningful as long as those currencies are in use. Price sees the temporary nature of those currencies and is proposing a viable bridge to the post "fractional reserve" economies.
The silver units do not become worthless when the currencies they are valued in fail.
Paper money is fine as long as it goes to the bottom of the economic pyramid first. These trickle down economists in this current regime are going to end up starving the rest of us to death if we don't put them all in prison or worse.
I met Mr Price in London a few years back. He is a real statesman in the arena of money. His plan to integrate silver back into the economy as money is practical. I suspect governments will be more receptive to his plan as credit based currency undermines respective economies.
There will be lots of resistance from the central banks. People can not be allowed to see the benefits of any form of sound money.
Libya was about to return to a Gold Standard before the country was suddenly attacked by the dark forces.