Excellent Video of a Gold and Silver Coin System in Indonesia

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LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1443
Excellent Video of a Gold and Silver Coin System in Indonesia

A sort of underground money system that's become a very strong presence in Indonesia.  Really an excellent video that I suggest everyone watch.  

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Watch at about the 1:10 point.....great belch!  Other than that, very tasteful video!

Love to hear thoughts!

Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 3125
Re: Excellent Video of a Gold and Silver Coin System in ...

Thanks for the vid.  Obviously pm's have been used much more commonly there than here.  They can freely exchange fiat for metal at banks and there is apparently a commonly accepted exchange rate for goods.  That puts them lightyears ahead of us in establishing metal as currency.  I think the concept is so foreign to the US that establishing metal as currency would be a difficult transition.  Plus, there just isn't enough of it available to go around.  Unless paper cash is pegged to gold or some other commodities I doubt if we could pull it off without a complete collapse of the fiat currency.

One aspect of the Indonesians' attitude I found interesting is that the one fellow talked about exchanging commodities for commodities.  IOW, they view pm's as commodities as opposed to cash.  I wonder what the implications of that are.

Doug

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