Silver – The Original World Currency
Silver – The Original World Currency by Rory – The Daily Coin
Silver has been money, and currency, longer than gold. The word “silver” actually translates to “money” or vice-versa in many countries around the world. Any true Christian knows that Judas sold out Jesus Christ for silver. Some theologians have reached the conclusion that Judas sold out Christ for approximately 30 pieces of silver. What would the value of 30 pieces of silver been in time of Christ?
The word used in Matthew 26:15 (argyria) simply means “silver coins”
There were a few type of coins that may have been used. Tetradrachms of Tyre, usually referred to as Tyrian shekels (14 grams of 94% silver)
Because Roman coinage was only 80% silver, the purer (94% or more) Tyrian shekels were required to pay the temple tax in Jerusalem. The money changers referenced in Matthew 21:12 exchanged Tyrian shekels for common Roman currency.
There are 31.1035 grams per troy ounce. A spot valuation of $16.49/oz (As of 8:30am CST Monday June 4, 2018), 30 “pieces of silver”… Source
The value of each coin described above – 14 grams of 94% pure silver at the market value used of $16.49/oz would equal $6.85 per coin. This was approximately one weeks pay. Which means Christ was sold out for approximately 3/4 of a years pay. Let that sink in for a just a minute.
The Roman Empire is one of the most well known monetary systems in history. It is also one of the most studied as the long history, and great documentation of how everything worked, has helped anyone with a desire to understand money, currency and economies to come a good understanding of how it works and what happens when a corrupt government begins manipulating the monetary system. One can also see the impact of the Roman government debasing the national currency (like the Federal Reserve has done beginning in 1913) and the devastating effect on society as a whole. Once a currency becomes corrupt the entire system, and society, must become corrupt to hide the lie the currency is telling.
Silver was the currency, and money, the people used for thousands of years. This system, while not perfect, worked far better than any other system that has been tried, including the system we use today. Silver was a part of everyday currency and money, while gold was the money for large items, like houses, cars and the like as well as being used for global trade settlement.
It can be argued that when Spain instituted a common currency in the form of the Real de a Ocho, also known as Pieces of Eight, or the Spanish dollar, globalisation’s first chapter had been written. The acceptance of the dollar coins for commercial transactions throughout Asia, the Americas and much of Europe, resulted in a cultural exchange between nations, as well as the relatively free movement of people and goods between the three continents – Source
The China Connection
While China had almost no appetite for imports, not even in the 16th Century, she most certainly had an appetite for silver. China, like Rome, used silver for everyday currency and, more importantly, for paying taxes. The government in Beijing wanted silver, but wasn’t mining enough silver to satisfy their insatiable appetite.
While China was conducting “global trade” exporting goods to Manila and Borneo she wasn’t doing much business outside this sphere. Chinese goods were making their way into other markets from these port-o-calls. Spain, on the other hand, was doing business far and wide, including Borneo, and this created a channel for Chinese goods. This is where paths crossed and silver became one of the most important currencies in world history.
China loves silver, period. Mexico, Central America and South America loves silver and produces a significant amount of global silver even to this day. However, during the 16th Century S. America was leading the way in silver production.
China’s insatiable demand for silver led to increased production in the Bolivian highlands and by the late 16th century Cerro de Potosi alone produced an estimated 60 per cent of all silver mined in the world. Source
All this silver was transported, by Spain, into Borneo and then into China. This, could be argued as the beginning of true globalism, global trade and silver being the world currency.
Many of the products imported into New Spain were highly coveted luxury goods. Silk was popular, both in its raw form and finely embroidered, as was porcelain, diamonds, pearls, ivory and wooden furniture. Cotton from the Philippines, and other parts of Asia, became highly profitable due to the high quality. Other products in demand were spices, tea, Indian linen, amber, swords and knives, potassium nitrate for gunpowder, and mercury, for industrial use to mine silver. Source
That sure sounds a lot like globalism to me – with Spain controlling the flow of silver and flow of imports back into Europe through “New Spain” –
This global trade would continue to grow, continue to increase and increase the worlds wealth, especially China’s wealth since they were acquiring all the silver for their manufactured goods. China would continue conducting trade with Spain, and then the U.K., for the next 150+ years. This would lead right into the “opium wars” where the West wanted their silver back, as China had most of the worlds silver supply, but China shutdown trade. So, the retaliation was to begin importing opium into China and the only acceptable currency for the opium was silver.
These “trade wars” sound exactly like what is happening today except instead of China acquiring wealth and silver China has acquired debt and treasuries. China has also been acquiring lots of gold. It is estimated that China could have as much 25,000 tons of gold in a variety of accounts that are not reported on the global monetary accounting systems. This is, of course, a theory, however, there is an estimated 25k+ tons of gold, with some estimates as high as 40k tons, that has flowed from West to East that can not be easily accounted. But I digress.
Enter the United States
When the Founding Fathers of the United States were writing the Constitution they used the bases for the Pieces of Eight as the formula for U.S. Coinage as codified in the Coinage Act of 1792.
The Founding Fathers were well aware of currency debasement and actually addressed this, in plain English, in Section 19 of the Coinage Act
Section 19. Penalty on debasing the coins – And be it further enacted, That if any of the gold or silver coins which shall be struck or coined at the said mint shall be debased or made worse as to the proportion of the fine gold or fine silver therein contained, or shall be of less weight or value than the same out to be pursuant to the directions of this act, through the default or with the connivance of any of the officers or persons who shall be employed at the said mint, for the purpose of profit or gain, or otherwise with a fraudulent intent, and if any of the said officers or persons shall embezzle any of the metals which shall at any time be committed to their charge for the purpose of being coined, or any of the coins which shall be struck or coined at the said mint, every such officer or person who shall commit any or either of the said offenses, shall be deemed guilty of felony, and shall suffer death. Source
What this means is every member, associate and employee of the Federal Reserve system since 1934 should be tried for, and probably found guilty of, currency debasement and suffer the penalty as spelled out above. Furthermore, it could argued that every Secretary of Treasury and President of the United States could be tried for debasing the currency as well.
What I know is this – silver, which translates to money in many countries around the world – is money and should be the backbone of our currency today, just as it has been for most of monetary history. Until sound money is returned to the system, in the form of silver or gold or both, governments, and their corporate friends, will continue their global corrupt crime spree.
I feel as if one of the best things I can do for my family is acquire silver, educate people to silver and encourage others to research silver and the important role it is currently playing in our lives today. Got physical silver?
We would encourage everyone to read How Silver Changed the World which is the inspiration for this article.