Posted on 02/22/2021 12:45:11 PM PST by amorphous
Humankind has a knack for creating existential threats to itself for some reason (e.g., government, money, nuclear weapons, electricity, internet, etc.). Some of which, these days, life itself depends upon its existence.
Especially old Freepers.
L
“But in 2021 shiny rocks are not the answer.”
Electrons which can vanish the second the power goes out certainly aren’t.
L
People would need to know a lot more about coins.
As far as purity and fakes, there are devices that can determine the metal based on unique conductivity.
Well, no Lurker, there's 31.1 grams to the ounce of silver. You gonna call me names now?
That’s a Troy ounce. Easy enough to convert to avoirdupois. (Look it up).
L
During the Civil War, Salmon P. Chase had printed lots of Greenbacks and had them declared the equivalent of legal money.
A few years later, Salmon P. Chase now on the SCOTUS, declared ONLY GOLD AND SILVER as legal money.
Only if they are REAL SILVER quarters, dimes, half dollars, and dollars.
Of course.
L
Hehe, I sort of did the reverse. Held a gold ETF for seven years as a defensive investment in my Roth IRA. I am typically pretty aggressive, so I just wanted something enough to fund “tickets on the last plane out” if it came to it. After seven years it was down 40% and I knew I was wasting my time.
Switched into GBTC in 2015 and got out in mid-2017 with a 1800% gain. But only because I was launching a self-directed IRA which then gained another 1000% before the peak in December.
I got into crypto in 2014 with a few thousand $/year invested from a middle-class income. By the end of 2017 I was founding one of the first crypto-endowed private charitable foundations. (Of course it lost 90% the following year, but things are back better than ever now. ;-)
Crypto is a wonderful tool for resisting leftist, totalitarian government and the surveillance state if used properly. And many of the projects in the crypto space are helpful to our cause. For examples, Presearch (presearch.org) which provides alternatives and a way to get away from the bias and censorship at Google, and Basic Attention Token (BAT) and the Brave web browser. And then there is Civic, which protects privacy while providing a digital identity that could be just what we need for honest elections and similar needs.
Wrong on several levels.
First, one major problem is that Congress hasn't SET the value. Not since the US was taken off the gold standard, that is.
Second, problems began with printing more dollars than there was gold enough in the treasury to back the paper.
Third, the Segway to taking us off the gold standard was the dilution of the content of our coins in 1965.
Interesting. Hope more states will do this...
Academic at this point.
Even the old 95% copper penny has more value than the copper clad zinc rounds we have for pennies today.
I used to get a piece of candy for a penny as a kid. Now I get one piece for a nickel.
Could I get a piece of candy for a penny again using an old 95% copper penny? See? The face value set by Congress is a penny. It's metal composition is its real value now. Vendors should set the exchange rate.
(rare coins of high numismatic value exempted)
My concern is a means of using real coins in today's market place, especially pre-1965 coins.
For anyone following the conversation...THE LAW!
Sounds like somebody has been to a pawn shop.
I was correcting myself after the light went on. You're way ahead of me, and most others, on this. Kudos for posting the law. There is one issue I see. That is trying to use various substances (gold, silver, copper, ...) for the same denominations.
I don't see an issue using various substances as money, just trying to use them for some arbitrary denomination creates a problem with value. The value of multiple elements will vary in a free market environment.
Instead of establishing a national denomination, i.e., the dollar, the yuan, the pound, let us use mass by element. Say 1 ounce or 28.35 grams of gold eagles/silver eagles (in the US), etc. Other countries could call them Maple Leaves, as long as we use common masses and purity - grams probably.
Further, markets must set the value of the elements, not government or the money changers.
Anything other than physical will need a third-party trust arrangement. Governments prove through history to be utterly unreliable after a while. Eventually even hiding what they have on hand from their people.
When you can schedule our first meeting with the world's leaders, let me know so that we may begin to revamp the world's monetary system! :)
Nobody is saying it will be an easy solution.
Easy and simple aren't synonymous.
https://www.zerohedge.com/markets/silversqueeze-hits-london-slv-warns-limited-40 hunt brothers high for silver would be $160 today silver kills 600 human pathogens without toxicity...makes electric car batteries 500% more efficient..needed for solar panels it’s short 184-1 https://www.globenewswire.com/news-release/2021/02/09/2172210/0/en/THC-Therapeutics-Has-Begun-the-Process-of-Acquiring-A-Significant-Amount-of-Physical-Silver-Bullion.html .
“Easy and simple aren’t synonymous.”
Been saying this for years.
Glad to see someone else around here gets it.
L
Neither is survival. What we have now represents an existential threat to civilization.
Just do it!
Best regards and wishes for great luck in all of your endeavors!
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