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Category: Campfire

Around the Campfire: Milan’s example

I've been in Milan for a few days, flying with British Airways, to talk to potential investors in Glint. Traveling anywhere these days is a bit risky...

23 June 2021

Jason Cozens

I’ve been in Milan for a few days, flying with British Airways, to talk to potential investors in Glint. Traveling anywhere these days is a bit risky – one never knows whether an abrupt rule change will be introduced that would scupper all plans. Happily, the trip was super-easy, even though Italy is on the UK government’s ‘amber’ list, which means I now have to ‘quarantine’ for five days.

The flight to Milan was packed, with everyone masked-up. It was very sad at Heathrow to see lines of planes queued up on the tarmac; the aviation industry is going through very tough times.

I have been ‘double-jabbed’ but like everyone I still found it necessary to take COVID tests before I could step onto the aircraft. It seems crazy to be forced to shell out around £350 (almost $500) to have these tests after being vaccinated to the max, and especially when mask-wearing is mandatory just about everywhere. Who is profiting from this extra ‘tax’ on travel?

In between my meetings I managed to see the Duomo Di Milano, Milan’s Cathedral, construction of which started in 1386. The cathedral has literally stood the test of time – like gold. Wars, civil conflicts, fascism, 66 different governments (and that’s only since 1946) – the cathedral has impassively, monumentally, stood there, a mute observer of humanity’s foibles and frailties.

For me, gold is the monetary equivalent of the Duomo. Always there, through thick and thin, through successive waves of different monetary systems. Cryptocurrencies are just the latest in a long line of substitute-money creations – and they might not have long, given the steady move towards Central Bank Digital Currencies and government determination to exert more authority over private enterprise. People have always resisted the debasement of ‘legal tender’: gold, indestructible, widely held, has always been there and always will be there.

All the best

Jason

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