Why Bother?
In recent years, we’ve seen the spectacular rise in the prices of office blocks, objets d’art, diamonds, autographs, metals, soft commodities, energy products, luxury motor vehicles and vast McMansions.
The question that needs to be asked is whether the prices of all these disparate entities are rising, or whether the price of money is falling. Nor must we ever forget that “capital” is not simply a digital entry, tapped effortlessly into the computer of some financial clearing house, but that it is a useful, productive resource that needs to be hewn from the earth, processed, and assembled — not in the hushed, marble halls of banking, but in the harsh and unforgiving environment of mines and quarries, fields and forests. The rise of the price of precious metals is directly related to the fall in the price (or value) of money.
Sources: Gal Marley, Silver Seek, von Mises Institute.
