Social Credit Score? How About a Hard Money Credit Score!

By Jeff Clark, Senior Analyst, GoldSilver.com

You’ve likely heard about the idea of a social credit score, where citizens could be graded on how environmentally or socially responsible they are. You recycle? Score one. You don’t recycle, minus one. You drive an electric vehicle? Score ten. You drive a carbon-spewing SUV, minus ten. 

We can debate how effective something like this would be, and the scary ways it could be abused by the government, but in my view there’s a more important scoring system that should be implemented.

It has direct bearing on your financial future…

The Hard Money Credit Score Test

Why a hard money credit score? Because your views and actions around money impacts everything else in your life. 

Not only is your financial future dependent on it, so is your country. And not just in the near-term, but your heirs will eventually be impacted by your hard money credit score. As will the health and vibrancy of the nation you call home.

Here’s the quiz to determine your Hard Money Credit Score. Answer each question honestly, then tally your responses at the end to calculate your score.

Category One: How Important is Freedom? 

1) At Tiananmen Square in 1989, Tank Man was: 

a. A criminal
b. A hero
c. An elite tank operator

2) Individual liberty should be:

a. Greater than government power

b. Less than government power
c. The same as government power
d. The name of my next dog

3) For his “Audit the Fed” bill, U.S. Senator Rand Paul should be:

a. Banned from social media
b. Imprisoned
c. Championed
d. Made to work at the Fed to see how difficult it is to manage the economy

4. Which word/phrase best describes the ideal president to you?

a. Leader
b. Ruler
c. Community organizer
d. Foghorn Leghorn

Category Two: What is Money?

5) The dollar bill in your wallet is “money” because:

a. Duh, I can buy stuff with it! 

b. Nothing better than cold, hard cash
c. It does not meet the definition of money

6) A fiat currency cannot be “money” because: 

a. It does not hold value over the long term
b. It IS money because the government controls the monetary system
c. It’s too easy to counterfeit currency notes

7) What is the reason all fiat currencies have historically become worthless? 

a. Governments eventually create too many currency units      

b. Lack of government power to control spending by its citizens
c. Politicians don’t know how to pronounce fiat

8) What is the most accurate definition of inflation? 

a. A rise in consumer prices
b. An expansion of the currency supply
c. The process of a balloon getting bigger

Category Three: How Valuable is Gold?

9) What is the primary reason most central banks hold gold in their Reserves? 

a. Tradition
b. To protect their currency or economy against collapse
c. To please Chrysus, the Greek God of Gold

10) Which portfolio has performed best over the past 20 years? One with…  

a. Zero gold
b. 5% gold
c. 10% gold

11) Physical gold provides the ordinary citizen:

a. A hedge against crisis, including stock market collapse and recession
b. A store of value
c. A tangible asset with no counterparty risk
d. All of the above
e. Gold is not necessary to own, the government will always support the economy

12) What is the most secure place to store gold? 

a. A home safe

b. A safe deposit box at the bank
c. Private, non-bank storage

Check your Hard Money Credit Score -- See The Answers

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