Why the Future Money Is Gold and Silver
A reminder why they always will be sound money and why bitcoin cannot fill that role
With bitcoin’s price still rising and expected to rise even more, there has been a growing belief in cryptocurrency circles that it will replace unbacked government currencies when they eventually fail.
The assumptions behind this conclusion are naïve, exposing hardly any knowledge in what qualities are needed for sound money. This article agrees that current events are accelerating the path towards fiat destruction, and that historical precedents point to their eventual replacement with a sounder form of money. But what that money will be is decided when governments lose control over their fiat; and the public, its users, through free markets will set the monetary agenda.
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Greek students have been demonstrating around the country against a law that would establish a university police force, which they say will stifle freedom of expression.
The legislation, proposed by the ruling centre-right New Democracy party and due to be approved by parliament on Thursday, aims to reform the education system. It plans for the creation of a special university police force empowered to guard campuses and arrest those considered troublemakers as well as a disciplinary council able to suspend or expel students.
Supporters of the reform argue that Greek universities have long been plagued by violence and those against it are afraid it will hinder freedom of expression.
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