from Sovereign Man:
Thousands of years ago whenever the Pharaohs of Ancient Egypt passed away, they were buried with all of their gold in a specially constructed tomb. The idea was to ward off thieves with booby traps and other perils so that these perceived demigods could enjoy their riches for eternity. It worked. In the case of Tutankhamen, his gold was untouched by both thieves and desperate government tax collectors for thousands of years.
In the Pharaohs’ day, gold was money. Today, it might be even more important than ever.
As advanced as our modern civilization may be, we’ve been playing with fire for more than a century. Every single experiment with unbacked paper money throughout history failed. And though today’s economists like to think that ‘this time is different,’ our own experiment with paper money will share the same fate.
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