Post #133

Mythos: Silverbug (Silver as Store of Value)

Viewpoint = what someone thinks

Mythos = the story-world that makes those thoughts feel true

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Re: 'silver is an industrial metal and has no monetary value'...

The awakening is spreading and everyday people are looking for a place to keep their cash.

They are getting priced out of gold - silver is their only option.

It is ultimately the people who will decide what has monetary value and what doesn't.

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Source: An (edited) comment from:
https://youtu.be/tQa6mNXcM4s

We can see an underlying doctrine: People can decide the monetary standard.

And another one: Gold is too expensive for the average person, therefore it can't be the primary monetary standard.

What is most interesting to me is that it is a democratic inversion of the goldbug mythos, which says:

1) People must adapt to the most powerful monetary standard.

2) The best monetary standard will have the highest price.

Summary:

Goldbug mythos: monetary truth is discovered.

Silverbug mythos: monetary truth is ratified.

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