“Good and bad coin cannot circulate together… and because of this unexampled state of badness all the fine gold was conveyed out of your realm.”
Thomas Gresham, Letter to Queen Elizabeth, 1558
“Now, as he [Thomas Gresham] was the first [he wasn’t] to perceive that a bad and debased currency is the cause of the disappearance of the good money, we are only doing what is just in calling this great fundamental law of the currency by his name. We may call it Gresham’s law of the currency. Bad coin invariably and necessarily drives out good coin from circulation.”
Henry Dunning Macleod, The Elements of Political Economy, 1858
“Behind the concrete, the visible events, behind all objective, logical considerations, we find the irrational element: The struggle against the demon, against the servants of the Antichrist.
Everywhere and always demonic powers lurk in the dark, waiting for the moment when man is weak; when of his own volition he leaves his place in Creation, as founded for him by God in freedom; when he yields to the force of evil, he separates himself from the powers of a higher order; and after voluntarily taking the first step, he is driven on to the next and the next at a furiously accelerating rate.”
The White Rose, Fourth Leaflet, Munich 1942
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
“Bad coin” is invariably the result of government decreeing value for a currency, which doesn’t necessarily have to be “debased” or fiat. Bimetallism failed because the government implicitly, via face value, decreed that some measure of silver was worth some exact measure of gold. Since market prices vary continuously, that ratio could never be enforced and whichever metal was worth less than the government-set price became the “bad coin” used for trade while the other was hoarded.