David Morgan, founder of the Morgan Report, is often considered an authority on silver, but he considers himself a precious metals aficionado. More than that, he identifies himself as a teacher. Early on, Mr. Morgan put the brakes on our interview to make something clear. “Silver and gold are not my mission statements,” he said. “My mission is to teach and empower people to understand the benefits of an honest financial system. What we really need is a system where it is fair, honest, and transparent for everyone involved, from the poorest to the richest, and everyone between.”SIN: Why is silver better as a monetary metal than other options? DM: This is my opinion, silver's monetary aspects are as good as gold, or perhaps even better, because it's been used more often, more places, for more transactions than gold ever has. It's often said that silver is the poor man's gold. Silver is also the merchant metal in history. When the free market has been able to determine what money is, the free market has gravitated to using silver much more often than gold. SIN: If silver has been the free market choice, why do central banks now focus more on holding gold? DM: Well the old adage that “he who owns the gold makes the rules” I think is very apropos. Therefore, central banks make the rules. If there is ever going to be a monetary system that re-establishes precious metals, gold would be their choice because they own it. Gold [alone] is not really the best choice in my view. Gold and silver together seem to be the best asset to control the propensity for the system to corrupt over time. If you have a bi-metallic standard, then one checks the other. Is it perfect? No. Corruption would exist, but on a much, much lower scale than we see in today's system.