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Thank you I think.... The way you look at things is clearly a new way to see. I am a or was a working slob, still am kinda. Got hurt bad a long time ago and ever since 0 assistance and can't get real world work with a pre-existing condition.
OT I know. But then I work in silver some on my own, and again or did, till the market went to more than my buyers willl pay.
In trading around i come by older collectable silver dollars, which I get, but won't beat up into other things.
I always thought that silver dollars were money, and that a silver cert when valid represented money. I thoiught that in 1957 when the silver certs stopped and the UNITED STATES NOTE came next that it was play money, and I knew the Fedral reseve note was/is.
But you have a unique way in seeing and telling others a great point.
mac
ps: now I gotta look out fer you in any topics I think I know something about
tried to rep ya, seems I have sometime before since it won't let me
There is not enough bullion to support trade.
World wide supply of gold bullion is estimated at 5.5 billion ounces.
World population is 6.7 billion.
Do the math.
That's less than ONE OUNCE per capita.
You can't account for trade with less than one ounce per capita.
Small change would have to be denominated in molecules of gold.
And it won't work if limited to the USA.
Fort Knox depository has only 147.4 million ounces - less than 1/2 ounce per American.
Based on the value established by the Coinage Act of 1792, that computes to less than $10 per capita.
Want to work for $5 per year?
--- about a quarter coin sized amount of gold
(assuming that the rich would have the lion's share of the gold)
Also looked how the price of gold has increased in the last 5 years.
There another reason not to get backed on the gold standard, The leading gold producing country in the world is CHINA. They are already on an unprecendented economic roll why push the global balance of power further in their favor?
Also looked how the price of gold has increased in the last 5 years.
Remember, the "market price" for gold is actually in "dollar bills" - not dollars.
If you find pre-1933 gold coins, a one ounce gold coin is $20.00.
That complies with the Coinage Act of 1792, et seq.
After 1933, the bankrupt Congress started futzing around with the "official price" (paid in "dollar bills") for bullion.
Technically speaking, the "official" price for gold is still $20 / ounce... if paid in gold dollars.
If paid in "dollar bills" (FRNs), it will cost 1267 FRNs *(today) to buy an ounce of gold.
Believe it or not, that is a fantastic price, since FRNs have NO PAR VALUE (worthless). "Dollar bills" do not alienate title, do not convey property rights, and do not pay debt.
Though one might assume that the floating ratio of funny munny to real money is 1267:20 (or 63:1), it's not equitable.
The "dollar bill" would crash if 51% of the "human resources" withdrew from underwriting it. It is DEBT, and a worthless one at that.
I would not be surprised to see deflation on the order of 4000:1, in the marketplace.
In addition, if you examine the wholesale price index, compared to 1914, the "dollar bill" is roughly 100:1 and falling.
When the reality of the constitutional law and the tiny amount of gold hits the marketplace, there will be quite a fuss.
Of course, this explains why the current regime is deliberately seeking to collapse the United Socialist States of America. They have to scrap the USCON and start over - hopefully with the people none the wiser.
Of course, this explains why the current regime is deliberately seeking to collapse the United Socialist States of America. They have to scrap the USCON and start over - hopefully with the people none the wiser.
GLD is not equal to gold - I mean the govt would never take something and deem it "for the good of the people" - would it? /sarcasm
Frankly I'm surprised you haven't started on a Keynesian rant about fiat currency and Oligarchies. Makes me wonder if you're a beans and bullets person.
One thing you have to consider is globalization - we may consider USD to be the world's reserve currency, but there's plenty of other players who own our T bills. Will Japan's recent currency intervention, China uncertainty, and EU insolvency kick it all off with a good ole trade war? Pulling it all off with "people none the wiser" is going to pose a challenge.
GLD is not equal to gold - I mean the govt would never take something and deem it "for the good of the people" - would it? /sarcasm
Frankly I'm surprised you haven't started on a Keynesian rant about fiat currency and Oligarchies. Makes me wonder if you're a beans and bullets person.
One thing you have to consider is globalization - we may consider USD to be the world's reserve currency, but there's plenty of other players who own our T bills. Will Japan's recent currency intervention, China uncertainty, and EU insolvency kick it all off with a good ole trade war? Pulling it all off with "people none the wiser" is going to pose a challenge.
What "Fiat" currency?
FRNs have no par value, by law.
The only reason FRNs are legal tender is that 300 million "human resources" are equally liable on those notes.
And, yes, the people are none the wiser, because so few bother to read the laws on the books.
Of course, they have a great role model - - Congress. Congress enacts laws that they do not bother to read nor comprehend.
What "Fiat" currency?
FRNs have no par value, by law.
The only reason FRNs are legal tender is that 300 million "human resources" are equally liable on those notes.
And, yes, the people are none the wiser, because so few bother to read the laws on the books.
Of course, they have a great role model - - Congress. Congress enacts laws that they do not bother to read nor comprehend.
I get it - you're an idealist and I respect that... Are you just ranting or do you have ideas to get us back to your lawful reality?
Getting wrapped up in the notes is really not the big picture. It's the fact that global debt and easing The Fed does with the currency (fiat or not - they're doing it!) is the main issue. Does the US call up this "law" and "legally" default on the debts? Is that what we should do? What about bonds? Equities? They're all traded in your non-fiat FRNs electronically.
1. No. He is not. Read the law.
2. Silver was demonetized in 1873. That was the beginning of the "Gold Standard" for the Federal government. The public debt, denominated in dollars, can only mean "gold dollars".
3. Fractional coin are not legal tender in amounts over 20 dollars. Go figure.
4. A note is not a certificate (receipt). A note is not money, by law. Never was. Never can be. A note is not "backed". See references from this post.
5. Since 1965, fractional coin have been counterfeits. (Congress reduced the penalty for counterfeiting in the previous session... just in case.)
6. Since 1933, no dollars have circulated. All prices were in reference to Federal Reserve notes - no par value - and are variables, not constants.
7. Real money existed before 1933. After 1933, real money ceased to circulate.
Do not take this personal - we're all victims of the world's greatest propaganda ministry. Go read the law for yourself. Do not rely on interpretations of "experts". It's found in every county courthouse law library.
Frankly, even Congress doesn't bother to read the laws they enact - why should YOU!
You shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold!
I get it - you're an idealist and I respect that... Are you just ranting or do you have ideas to get us back to your lawful reality?
Getting wrapped up in the notes is really not the big picture. It's the fact that global debt and easing The Fed does with the currency (fiat or not - they're doing it!) is the main issue.
Does the US call up this "law" and "legally" default on the debts? Is that what we should do? What about bonds? Equities? They're all traded in your non-fiat FRNs electronically.
2. If you mean usury (charging interest) is the big issue - I'll agree that usury is one of the major culprits behind the impossible debt situation. Even if the Federal Reserve Act was repealed, it has zero effect on the outstanding public debt.
3. Technically, 300 million enumerated "human resources" are collateral on that debt. If the government defaults THEY GET FORECLOSED. And I think those "contributors" are not sufficient collateral at this point.
If the bonds, and other instruments are only payable in "dollar bills", they are - well - worthless, when the collateral (the "300") drops in value... or withdraws consent.
First, I have to get this off my chest... Wikipedia is not an authoritative source. ANYONE CAN EDIT IT. And Progressives often take key topics and use them to rewrite history. If you are challenged on anything, you have to prove it was a fact printed in a major media publication, etc. And since major papers are biased to the alleged left, just try to support a conservative point... Much more time and effort required. I have that been there for a while, but if it hasnt been updated, see their entries for the TEA Party movement. As an founder of a TEA Party group (independent of any national group) I know first hand what happened, but since its not printed in a paper... my first hand knowledge does not count.
Back to the topic at hand, specie backed money as required by the constitution. It is so much easier to tear the ideas of others down than to come up with constructive solutions themselves. I always tell my employees, don't bring me problems, bring me solutions. IS THERE ANY DENYING THAT OUR GOVERNMENT PRINTING BILLIONS OF WORTHLESS DOLLARS IS A HUGE PROBLEM THAT THREATENS TO DESTROY AMERICA? So Ron Paul at the end of his life suggests old school solutions required by the constitution. Do you really think that in the process of reasoned debate, Ron Paul wouldn't say..."I see your point, Let's find a solution." This "tear down the creater of the suggestion" approach suggests ulterior motivations rather than commentary purely designed to advance the best interests of WE THE PEOPLE. Perhaps we could find some other relatively rare element that does not have any real commercial value and start using it. The point is finding a way to put the brakes on Congress printing worthless money by requiring them to back it with some material object of value.. (And the money only has to be backed by species, not made of specie) The dollar aka Federal Reserve Notes could be redeemed for gold by citizens at the FED until the 1930s under Roosevelt. (And 1972 under Nixon for foreign countries, beginning with France) So the preposterous statement that people would have to work for 5 dollars an hour and only be paid half an ounce of gold for a years work is silly. ANYBODY HAVE SOME ACTUAL CONSTRUCTIVE COMMENTS TO ADVANCE THE BEST INTERESTS OF WE THE PEOPLE? Those were my thoughts. The Cynical Patriot
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