We need to get away from fiat currency, and I think most people on this forum know that instinctively. However, I don’t think it’s currently feasible to switch back to gold and silver for the following reasons:
- The bad guys already own too much of the world’s precious metal supply.
- Precious metals still have issues with inflation/deflation and are vulnerable to supply manipulation (see chapter 1 of A History Of Central Banking And The Enslavement Of Mankind - Stephen Mitford Goodson : Stephen Mitford Goodson : Free Download, Borrow, and Streaming : Internet Archive)
Diamonds have the same principle strengths as precious metals (there’s a limited supply* and they’re durable), but they have built-in guardrails for inflation and deflation. Examples:
- Money supply is too low to facilitate the exchange of goods → the price of diamonds goes up → more people synthesize diamonds → money supply is corrected
- Money supply is too high → the price of diamonds goes down → more diamonds are used in mining equipment instead of money → money supply is corrected
As a bonus, counterfeits can easily be detected by scratching them, since diamonds are the hardest thing on earth.
*The material cost of making diamonds is basically zero, but there’s a fixed (and hefty) energy cost. Synthetic diamonds aren’t finite in the same way as gold and silver, and are more comparable to a cryptocurrency that physically exists.