Investor Jim Roger addressed claims by some silver analysts that silver has been demonetized. Oftentimes, the digitization of society—including money with Bitcoin and central bank digital currencies—is considered the culprit.
“Once upon a time people used seashells as money,” said Jim Rogers on the GoldSilverBitcoin Show. “People have used cattle as money.”
“The world is always changing,” Mr. Rogers has said many times before. But, there’s another argument for silver as money.
“Silver has been money for thousands of years,” he notes. “I mean, Jesus was sold for 30 pieces of silver. He wasn’t sold for a dozen eggs. He wasn’t sold for cattle or seashells or anything else. So, Silver has been money or valuable for thousands of years, as has gold. So, I would suspect it’s probably going to be difficult to get rid of silver.”
Mr. Rogers points out silver’s purposes beyond money. “Looks like we’re all gonna have electric cars. If we do, there’s a lot of silver in those cars. Solar power uses a lot of silver, too. So, silver may not become money, like when Christ was around, but it certainly is going to be valuable and useful, because it does have practical uses—the same for gold.”
Demonetization, of course, is possible as it was for seashells and other things Mr. Rogers said. “Unlikely, if you ask me, given the thousands of years of human history.” In response to contentions by certain analysts that silver is facing demonetization due to new technologies, such as Bitcoin, he is skeptical. “But, who knows? Why not? I’m sure if once upon a time if I went to some people and said, ‘You guys should get rid of those seashells,’ they would run me out of town, if they didn’t put me in jail, because everybody knows that seashells are valuable and money, If some crazy guy comes in saying seashells are not ready, be careful.”