Cryptocurrencies are More “Real” Than Modern Monetary Theory
By Patrick Tan on ALTCOIN MAGAZINE
As Sir John Lockwood surveyed his post at the helm of the H.M.S. Audacious, he marveled at the wonder of empire.
Several shillings in his waistcoat (a peculiar choice of dress considering the 90-degree heat), Lockwood surveyed the deck of the Audacious as native workers, referred to derogatorily as “coolies” loaded all manner of exotic spice and fine silk into the holds of one of Her Majesty’s finest tall ships.
During the latter half of the 19th Century, Britain’s empire was unparalleled. An empire stretching so far across the planet that it was said the sun never set on it, Her Majesty’s influence knew no boundaries.
Whether it was sweet meats from the Near East or exotic spices and bolts of finest silks from the Far East, the glorious British Empire was want for nothing.
And the lubricant fueling this global empire? The Sterling Pound. Even today, the noun “Sterling” is used to describe something which is “first-rate,” “exceptional,” or “outstanding.”
