The Rebirth of Silver Money?

Is silver money? I wish I had an ounce of silver for every time I have encountered that question on the net! Rather than provide you with the technical answer (from an Austrian Economic and historical point of view), let me point out something really exciting. The ISO (International Organization for Standardization) has set the standards for international currencies. AND silver, gold and platinum are listed by the ISO as currencies. The best quick resource for information regarding ISO 4217 is Wikipedia of course. Go to http://en.wikipedia.org/wiki/ISO_4217 . Silver's currency code is a combination of X and its chemical symbol AG; hence its currency code is XAG. Following the same logic, gold's currency symbol is XAU. Each currency is assigned a 3 digit numeric code. Silver is currency number 961. Its standard is set at one ounce of silver. Therefore, SILVER IS AN INTERNATIONALLY RECOGNIZED CURRENCY and not just in the fervid imaginations of suburban gold bugs. I have even traded the XAG:USD currency pair at European brokerage houses and the XAU:USD at Forex.com. But is it money?

No silver is not money - yet (hold on and I will show you how we can make it money again). I can't go down to Starbucks and buy a large cinnamon dulce latte for 35 silver cents. The local barista would look at me like I had been smoking some shredded federal reserve notes in my Hope Bong. Yes, a cup of latte at starbucks would cost only 35 silver cents ($4.35 for a latte divided by the price of one once of silver on April 7, 2009 which was $12.30). In this crazy world of fiat currencies (read - legally counterfeit monies), currently headed by the red queen Ben Bernanke (off with all your heads dear readers), all currencies are volatile including silver. But silver has lost very little purchasing power relative to the toilet paper currencies (the founding fathers called it "rag money") like the U.S. Dollar and the British Pound. Since 1913 when the U.S. Dollar was turned over to the control of a private banking cartel (read trust) it has lost over 95 percent of its value. Great job guys. Yes, you Paul Volker and Sir Alan Greenspan (two previous red queens). A cup of joe was around 5 to 15 cents in 1913.

REMONETIZATION

WE THE PEOPLE can remonetize silver. Silver has been winning the Peoples Choice Award as money for literally thousands of years. This is much easier than immanentizing the eschaton ;-). Remonetization will take 3 steps.

Step 1 is to give the Silver Ounce - XAG a Symbol. Don't underestimate the power of a symbol.

Step 2 is to use Silver as a Unit of Account. (I'll show you how in subsequent articles).

Step 3 is to mint a coin metal silver currency. (Hint: real coin metal is 90% silver and 10% copper not that 99.9% tourist stuff that is currently being minted for the marks by most governments. Why 99.9% "pure", because they KNOW you can't use it as a currency because it isn't durable enough!)

Step 1 we need to launch a new symbol. In 1792 the US dollar $ originally represented 77 percent of an ounce of silver or 371.25 grains of pure silver ( the average silver content of Pieces of Eight or Spanish Reals). You see, originally the colonials' main currency was Spanish dollars. Our founding fathers keep their accounting records in Spanish Silver Dollars-Reals. Since the silver dollar symbol $ has been high jacked by the banking cartel to represent rag money in the form of paper federal reserve notes, we need a new symbol for the ISO silver currency.

Author Resource:- You can find the new Silver Currency Symbol at my new website Fibonacci Financial. Is this symbol just another pretty face or will it launch a revolution? Let freedom ring with the sound real silver money again.
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