Gold bugs history
The term gold bug appeared the first time in an Edgar Allan Poe story called precisely “The Gold Bug”. However, the term gained popularity in the American general elections of 1896 between two candidates that defended gold and silver respectively.
Mckinley was gold´s defender and the Gold Bugs his followers.
Meanwhile his opponent supported the introduction of silver and bimetallism. The latter would be the old version of populist parties in favor of devaluation and redistribution.
In that case, it was silver the weapon the populists wanted to introduce to debase the Gold Standard of the time.
That is the old war between right and left in the democratic arena. War which, despite people do not realize about it, is going to end in the final win of the forces of the left and the implantation of the Mark of the Beast, that is, the antithesis of gold currency, and the base for the totalitarian state of total control.
And he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name.
What is a gold bug?
A gold bug is someone that has a special predilection for gold and everything related to it in the world of finance, economy and even society.
The gold bugs are those who think that the current system based of fiat money is an aberration.
For them, the only honorable system is that based on the gold standard, or at least one in which there is no fiduciary or government money.
The truth is that between the gold bugs there are a lot of profiles. However, in general, the same are normally anti-statist people and not supporters of government regulation.
Gold bugs United States
There is nowhere in the world with so many gold bugs as in the United States probably.
Their defenders are the main proponents of a private property society, which some people call “libertarians”.
Libertarian ideology, or anarcho-capitalist, attach a lot of importance to gold as the economic bastion of liberty. Some – the true libertarians – favor the abolishment of the state and the instauration of a private property society, like Hans Hoppe – although he is not a recognized gold bug.
The “lesser” libertarians favor a reduction of the state to its basic functions, and the comeback to the Gold Standard.
Normally, gold bugs are considered to be eternally bullish on gold, which in some way is true.
Some people think literally that gold will always be in a bull market in a fiat regime. That is actually false as Antal Fekete explains very well.
It is true that any fiat currency will go to zero eventually, but it does not mean that the bear market in fiat currencies is in a straight line, or the bull market in gold is in a bull market without interruption.
Some of us think that there will be a day – who knows when – when gold will not be sold at any price in any fiat currency. Until that day gold may suffer many bulls and bear markets.
What means, that before that day of reckoning, gold will have many 300% bull markets, followed by many 50% bear markets.
For instance, how many gold bugs were not stuck in the ranging gold markets of the eighties and nineties of the last century?
There was a fiat regime, but gold did not have any sort of bull market during those 20 years.
Gold bugs are wrong?
Gold bugs will “win” in the long-term when they can show their physical gold, but that will be a bitter win since by then, the world will be a very different place.
There is no way they will “enjoy” those ounces in a chaotic or totalitarian world. In both case they will have to hide the gold. That means, the day that gold bugs win, they will really lose, since their function is to be the Omen. Nevertheless, eventually the will have won the philosophical match.
It is curious that gold bug´s competitors are what we could call “stock bugs”. That means that the latter are eternal bulls in the stock markets.
Those form a majority in the investment world.
After all, the Dow Jones is in a 200 years bull market, and will supposedly still be for the future.
A great deal of the gold bugs think that there will be a day when the stocks will stop to rise and disappear from history. Gold bugs will then use their gold to buy their survival.
The Stock bugs, being a majority in the urban and materialistic society, would not have a good chance to survive in a cataclysmic scenario.
Those who live in rural areas will be better prepared, and that is why gold bugs are more common in the countries. In that sense we can see the antagonisms of gold bugs and stock bugs: rural versus urban, gold versus fiat.
The truth is that it is not easy to be a gold bug in the current world.
The road paved by the elites and followed by the masses is clearly designed for the adoption of an electronic money system. In that case gold would be unnecessary.
The problem with an electronic monetary system is that if it falls in hand of a totalitarian state, it will be able to control all the monetary transactions of the people.
That would mean absolute control.
Gold bugs nightmare
A totalitarian regime will always have problems when gold is still the cornerstone of monetary affairs.
When the masses accept electronic currency there will not be more obstacles for the possibility of total control. From that point of view, electronic money would constitute the opposite of what a gold bug defends.
That system would be the base for the future totalitarian regime and its Mark of the Beast.
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