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Understanding ‘SILVER’ for the upcoming Silver Summit!

October 6, 2013

Let’s learn some history about ‘silver’ for the upcoming Silver Summit in Spokane, Washington, Oct. 24-25, 2013. I will be attending this event again…for my fourth time. Silver is probably the oldest monetary element on our planet. Some 5000 years prior to today, silver was discovered by human beings (probably in the Fertile Crescent area in what today we call the Middle East). We do not know WHO discovered this element, but we can assume that it was some person(s) who desired to discover new items from nature. Shortly after discovery, silver was formed into nuggets for trading purposes. Later these nuggets were melted and minted into coins for use as a valuation tool in the marketplace. Our marketplace then selected (invented) this element as a form of money. What else can we learn about this element of nature?

Silver is found in native form, as an alloy with gold (electrum), and in ores containingsulfurarsenicantimony or chlorine. Ores include argentite (Ag2S), chlorargyrite (AgCl) which includes horn silver, and pyrargyrite (Ag3SbS3). The principal sources of silver are the ores of copper, copper-nickel, lead, and lead-zinc obtained from PeruBolivia,MexicoChinaAustraliaChilePoland and Serbia.[7] Peru, Bolivia and Mexico have been mining silver since 1546, and are still major world producers. The United States is also a major producer of silver.

Silver is used in photography, dental compounds, solder, brazing, electrical contacts, batteries, mirrors, and printed circuits. Freshly deposited silver is is the best known reflector of visible light, but it rapidly tarnishes and loses its reflectance. Silver fulminate (Ag2C2N2O2) is a powerful explosive. Silver iodide is used in cloud seeding to produce rain. Silver chloride can be made transparent and is also used as a cement for glass. Silver nitrate, or lunar caustic, is used extensively in photography.

Silver has an atomic number of 47 (protons and electrons) and an atomic mass of 108 (protons + neurons). We can also view silver as containing 480 troy grains (within a one troy ounce coin). Silver is an inorganic item of matter/energy and is without any ‘consciousness’. The ‘name’ which we have chosen for this element, however, is derived from ‘consciousness’. The ‘name’ for this element has also been called argentum (a Latin derivative). The chemical symbol for silver is Ag. The ‘consciousness’ of people in the marketplace has chosen (invented) this element of nature to serve as a tool for valuation and money. Silver is also listed as a global currency with an ISO currency symbol of XAG and a ISO code of 961. Silver is traded daily on our global electronic stock exchanges.

Silver has been chosen (historically) by governments as the best form of money and currency for trading/valuation and for storing wealth. The British Empire flourished via a monetary system based mostly upon silver. Later, the American Founders chose silver for their basic currency unit (called the ‘dollar’). Thomas Jefferson and Alexander Hamilton developed the American coinage system in 1792 using silver as the element for most of the minted coins. The currency ‘name’ called the American Dollar originally was a minted silver coin with 371.25 grains of Ag as the substance for the dollar coin. Today, our dollar unit has NO substance (from nature) and is mostly a VIRTUAL unit within our computer screen. Silver is now mostly a metal, coin, and element which is traded and used for commercial, industrial, and store of value purposes.

The monetary nature of silver has been replaced with virtual currencies (digital units) and these units circulate as ‘names’, ‘numbers’ and ‘symbols’ within our computer screens. All valuations of assets and wealth are now derived via subjective computer trading where values fluctuate within our computer screens from moment to moment in real-time. Algorithms have replaced human judgment and human calculations. Math and imaginary numbers have replaced physical elements such as silver for our monetary units. We now live in a WORLD of virtual reality and CYBER-SPACE for our investing, trading, saving, and monetary transactions. Non-physical/subjective/imaginary CONSCIOUSNESS (mostly via actions of our Central Banks) now create our currency units for our valuations.

Mobile Smart Phones, tablets, and laptop computers act as our means for monetary transactions and storage of our savings. The cashless global society has arrived for most citizens of our planet. The virtual realities within our computer screens have allowed CENTRAL authorities to govern our monetary lives. Centralization and Digitization have replaced Free Market Capitalism and Free Market Exchange. Centralized manipulations of prices and values are now ubiquitous, globally. Imaginary money (what I call ‘funny money’) has replaced physical coins, paper notes, and our silver/gold foundation. Subjective price discovery has replaced Objective valuations. A new world has arrived with FEW understanding what has happened.

The upcoming Silver Summit in Spokane, Washington, on October 24-25, 2013, should reveal some of these issues to those attending. A great group of speakers and presenters will be providing relevant information on our economy, the manipulations of silver/gold within our markets, and the trends developing globally. If you still desire to attend a great group of silver compatriots and monetary historians you can still register for this event. Go to: http://cambridgehouse.com/node/13049. Enjoy! I am:  https://kingdomecon.wordpress.com

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