1.Your true wealth is your time and freedom,fiat currency and money are different:money is a trading tool that restores the economic energy that is your time and your freedom whereas currencies leak them away.Gold and silver are the ultimate money simply because of their properties.Fiat currencies are based solely on confidence and always return to their intrinsic value of zero
2.seven stage of empire:quality money -quantity money- quality money,ends with gold delivering a knockout blow to debase currencies.stage1:a country starts out with good money which is either gold or silver or it's backed by gold or silver;stage2: economic burdens adding layer upon layer of public works;stage3:political influence and expenditures to find a massive military increases;stage4:put its military to use and expenditure s explode;stage5:it steal the whealth of its people by debasing their coinage with base metals or by replacing their money with currency that can be created in unlimited quantities(降低金币成色或把金币替换成可无限制生产的通货）stage6:the loss inpurchasing power of the expanded currency supply is sensed by the population in the financial markets triggering a loss a faith in the currency;stage 7:a mass movement out of currency into precious metals and other tangible assets takes place the currency collapses and gold and silver rise in prizes as they account for the huge quantity.
3.1944-1971 Bretten Woods system,the gold price raise from 35 to 850 dollars. There will be a New monetary system.gold would buy you fourteen times more paper assets than it does today.value and price are different thing,we are forced to transact in the currencies.
4.
