Let there be cash
Far from calling wolf I feel a bit like the boy who called out the emperor for not wearing any clothes when I look around at the almost constant global flow of state sponsored largesse being splashed out just about willy nilly these days. Call me naive but it really is a concern, living in a world awash in currency backed by nothing more substantial than political promises…their lips are moving so they must be lying…
Nothing to see here (!)
Many people much better informed than me can give you chapter and verse on the present financial disaster in the making, however you only have to look at the history of Roman silver coinage from the time of Caracalla (AD 215) onwards to know that it’s nothing new and has a tragically predicatable ending – ‘Quis custodiet ipsos custodes?’ is a rhetorical question.
Actually you don’t even have to go back that far – Venezuela (a repeat offender – Google tells me they’ve devalued 5 times since 2003) and Weimar Germany in the early ’20s spring to mind. I’m still taken aback by the red 50 Billion dollar Reserve Bank of Zimbabwe note given to me by a fellow collector. Fifty with I don’t know how many zeroes afterwards, and it won’t be accepted by anyone anywhere for anything!
No paper (or plastic) currency in all of recorded history has ever maintained its buying power. Ever. Be very wary of anyone putting down that this time is different, because it won’t be.
Anyway… and getting back to silver coins, the curious mercenary in me wonders if all that touted money has turned up in the Aussie florin market yet. It will, of that I feel quite certain and the ask will rise. Of course the question is where; which coins will be sought after – it’s Spring Racing Carnival time and appropriate to be picking winners, so what’s your bet ?
I’ll show you mine, if you show me yours!