In theory at least, £5 is exactly 5 lbs of sterling silver in weight.
In 1815 when paper money was first introduced, £5 was worth 5 lbs of sterling. Now in 2022, 5 lbs of silver costs £1500.
That’s 16 oz per lb x 5 = 80 ounces. Today’s price about £18.25 per ounce of fine 999/1000 silver. Sterling is over 925/1000.
Furthermore, 16 ounces of silver in 1815 was worth 1 oz of pure gold.
Today’s gold price makes £5 then cost £7500 now. Inflation over 200 years is 1500 X.
We should allow people to buy precious metals tax free – no VAT and no CGT.
Then they could protect themselves from banker’s fake promises, government printing presses and inflation.
Support The Teds. The English Democrats. Stand together not apart.
You don’t need high interest rates to create honest money – just honest money in the first place.
Take possession of all precious metal, not vouchers like paper money. Look what happened to that.