Like so much mulberry bark
“And so, history repeats. On this occasion, it’s taken longer to play out, as the dollar has had such a great advantage over other fiat currencies. But we’re fast approaching the point at which the dollar, like so much mulberry bark, becomes worthless, as have so many fiat currencies before it. When this occurs, we shall discover what Kublai Khan discovered in the thirteenth century – that when fiat currencies fail, the world once again returns to real money: silver and gold.”
USAGOLD note: Jeff Thomas pieces together the history of the first fiat currency – Kublai Khan’s jiaocaho made from mulberry bark – the silicon-based U.S. dollar and gold in this interesting study available at the link above.
Repost from 12-18-2019