Posted Feb 20, 2016 by Martin Armstrong
QUESTION: Mr. Armstrong, most of the people in the gold community say you are wrong and gold has always been money. Would you care to respond?
ANSWER: If you want to believe propaganda, that is fine. Have a nice day. I do not understand why people distort the truth to support their biases. The three great empires — Babylon, Greece, and Rome — all had different monetary-based systems. This was entirely dependent upon whatever natural resources they had at their disposal. In fact, Athens funded everything with its silver mine at Lavrion. There has been a more recent discovery of an extensive silver mine that is even older than Lavrion at Thorikos on the southern tip of Attica.
In fact, the Biblical passage of Daniel interpreting the dream of the king has long been seen as the very forecast of the world monetary system:
You, O king, were looking and behold, there was a single great statue; that statue, which was large and of extraordinary splendor, was standing in front of you, and its appearance was awesome. “The head of that statue was made of fine gold, its breast and its arms of silver, its belly and its thighs of bronze, its legs of iron, its feet partly of iron and partly of clay.…
So I do not understand the claim that only gold is and always has been money. That is just total nonsense. There have been many different types of monetary systems. All have failed, regardless of what it was based upon because there is a common denominator — humanity.
Tags: ancient monetary systems, What is Money?