The Halo Effect

It’s not fair.

It seems everything claims to be <something something> gold. Oil is black gold. Melted cheese is liquid gold. There’s even red gold, a tomato company.

It’s just not fair!

It seems like a one-way street. They get to use (without paying!) the good name of gold, but gold gets nothing from them. How would you even say it? Gold is metallic petroleum? Or precious pasta sauce?

 

 

One Gold to Rule Them All

Speaking of precious, gold will forever be tarnished by that evil old creature in Lord of the Rings, who lusted for it in a most unseemly way. We are speaking, of course, about Lord Denethor who said he would only use it in the “utmost end of need”. Denethor is a fictional character, but he gave this idea to many people who now view gold this way. Oh, yeah, of course Gollum also tarred gold with his evil brush. He constantly hissed about, “my precious!”

We are getting nearer to the heart of the matter. The stoners are calling marijuana—its proper street slang is “weed”—green gold! The nerve! Gold has developed its reputation for thousands of years as a sober metal. And these smokers come along and expropriate the name for a hallucinogenic plant that grows in jungles.

Almost as bad, some foodie—what do they know about precious metals anyways?!—expropriated the name of our favorite yellow metal. They call their cocoa powder brown gold!

 

Bitcoin as Digital Gold

And this brings us to the crux. Bitcoin is advertised as digital gold. How insulting! We don’t try to call gold analog bitcoin…

…wait.

Yeah, why not?!

It’s time to turn the tables, and the tide. To flip this thing on its head. To get the cart before the horse. To hit the hammer on your head, with a nail. To set this story crooked. To knock the park out of the ball. Why can’t we capitalize on their good name?

Sure, digital gold has only been around, what, 13 years? That’s less long ago than the global financial crisis (we refer to the one before the last one which was due to Covid). So it’s only seen two panics and no recessions yet. But anyways, it’s young, it’s hip, all the cool kids are doing it. And we should crash their party, smoke their—well you get the idea.

 

It’s Time for Gold to Rebrand

Gold is …

… drum roll please …

*Ta Da!*

“Analog Bitcoin”

This is how we will leverage bitcoin’s excellent reputation for stability volatility!

You’re welcome.

 

Dr. Keith Weiner is the president of the Gold Standard Institute USA, and CEO of Monetary Metals. Keith is a leading authority in the areas of gold, money, and credit and has made important contributions to the development of trading techniques founded upon the analysis of bid-ask spreads. Keith is a sought after speaker and regularly writes on economics. He is an Objectivist, and has his PhD from the New Austrian School of Economics. He lives with his wife near Phoenix, Arizona.

 

___________________________________________________________________________________________

   

Dear Readers!

You may have noticed that our header carries ab black flag. This is due to the recent passing of the main author of the Acting Man blog, Heinz Blasnik, under his nom de plume 'Pater Tenebrarum'. We want to thank you for following his blog for meanwhile 11 years and refer you to the 'Acting Man Classics' on the sidebar to get an introduction to his way of seeing economics. In the future, we will keep the blog running with regular uptates from our well known Co-Authors. For that, some financial help would be greatly appreciated. A special thank you to all readers who have already chipped in, your generosity is greatly appreciated. Regardless of that, we are honored by everybody's readership and hope we have managed to add a little value to your life.

   

Bitcoin address: 12vB2LeWQNjWh59tyfWw23ySqJ9kTfJifA

   
 

Your comment:

You must be logged in to post a comment.

Most read in the last 20 days:

  • Forensic Analysis of Fed Action on Silver Price
      Forensic Analysis of Fed Action on Silver Price The last few days of trading in silver have been a wild ride. On Wednesday morning in New York, six hours before the Fed was to announce its interest rate hike, the price of silver began to drop. It went from around $22.65 to a low of $22.25 before recovering about 20 cents. At 2pm (NY time), the Fed made the announcement. The price had already begun spiking higher for about two minutes.     As an aside,...

Support Acting Man

Austrian Theory and Investment

Archive

THE GOLD CARTEL: Government Intervention on Gold, the Mega Bubble in Paper and What This Means for Your Future

Realtime Charts

 

Gold in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Gold in EUR:

[Most Recent Quotes from www.kitco.com]

 


 

Silver in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Platinum in USD:

[Most Recent Quotes from www.kitco.com]

 


 

USD - Index:

[Most Recent USD from www.kitco.com]

 

Mish Talk

     
    Buy Silver Now!
     
    Buy Gold Now!