A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from March 02, 2011
Paperbug or Paper Bug (paper money enthusiast)

"Paper bug” or “paperbug” is a term similar to the older terms “gold bug” and “silver bug.” ("Bug" is a slang term for “enthusiast.") A “paperbug” has confidence in paper money, such as U.S. dollars.

The term “paper bug” has been cited in print since at least 1895 and 1981, but has become popular since 2009 (when financial writer Adam Brochert of SafeHaven.com began to frequently use the term).


Google Books
A Breed of Barren Metal; or,
Currency and interest, a study of social and industrial problems,

By J. W. Bennett
Chicago, IL: C.H. Kerr & Co.
1895
Pg. 226:
The proposed currency is founded on value, and the volume is regulated by business needs. It will be neither for gold-bug nor silver-bug nor paper-bug.

Google News Archive
4 September 1981, Lakeland (FL) Ledger, “Gold comeback could be fatal” by Jerome Cahill, pg. 14A, col. 3:
And they contend that their archrivals in the debate, defenders of the current system of paper money (dubbed “paper bugs") are mere bureaucrats who lack the political gumption to stick to a restrictive monetary policy long enough to do the job.

Google Groups: alt.politics.economics
Newsgroups: alt.politics.economics
From: “TOMofSNJ”
Date: 1999/09/22
Subject: Re: The price of tokens goes down, gold goes up

I love the entrant battle between the good and evil gold bug and paper bugs.

Google Groups: alt.machines.cnc
Newsgroups: alt.machines.cnc
From: (Cliff Huprich)
Date: 17 Jun 2003 22:59:45 GMT
Local: Tues, Jun 17 2003 4:59 pm
Subject: Re: HEY CLIFF!

So if we were “steel bugs” instead of Gold bugs or Silver bugs .... or paper bugs ....

SafeHaven
Paperbugs
By: Adam Brochert | Tue, Oct 20, 2009
It is now time for the tables to turn once again. It is now time for the paperbugs to take their medicine. It is now time for the “Don’t Worry, Be Happy and Invest in Stocks Forever” crowd to come to realize they were not only wrong, but arrogant in the face of overwhelming evidence to the contrary.

The paperbugs, as I am now going to start calling them, place all their belief in a paper system destined for failure. Paper fiat money has never worked throughout history and central banks have never benefited society over the long term.

The Market Oracle
Still Bullish on Gold and Gold Stocks 2010
Jan 08, 2010 - 08:21 AM
By: Adam_Brochert
(...)
Paperbugs like Roubini and the staff over at bloomberg.com certainly won’t agree with my current thesis, but I’m still here and still bullish on all things Gold.

The Market Oracle
Stock Market Sentiment and Monetary Aggregates - Watch Out Paperbugs!
May 02, 2010 - 04:15 PM
By: Adam_Brochert
The whole M1/M2/M3/MZM (among others) monetary aggregate thing is pretty dry and I am no expert on which one is most important and the fine distinctions between them. It’s all paperbug drivel to intellectualize an unsustainable debt-backed paper currency system in my opinion.

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Wednesday, March 02, 2011 • Permalink