Detlev Schlichter: The death of banks – and the future of money


The German hard money guru looks beyond the forthcoming collapse of paper money, in an excellent piece.

As a hard asset man myself, I’m unsure about BitCoin. However, once some bright spark invents cold fusion and we can electrolyse almost unlimited amounts of gold and other precious metals from seawater, at very low cost, who knows what we’ll turn to as the primary and freely-chosen monetary medium?

Whatever that future money is, let us hope we learn our lesson from the current imbroglio, and never let governments wrap us in monopolistic chains of paper money, ever again.

About Andy Duncan

An Austrian Internet Vigilante trying to live Outside the Asylum
This entry was posted in Austrian Economics, Inflation, QE3 and tagged . Bookmark the permalink.

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