Posted on 11/15/2007 7:50:21 AM PST by Attention Surplus Disorder
Thank you.
Thanks Iwo Jima. As I told someone else, it may be that the reserves are not sufficient.
Bravo comrade!
Don’t know much about this, but it is definitely bothersome.
That may be. And if it is then the customers have a legitimate right to complain, unless it was disclosed in their contract that they would use fractional reserve banking principles (meaning that they don’t keep 100% reserves on hand at any one time but are obligated to go out into the market and buy more reserves in the event of a “run on the bank”).
I wouldn’t want to run a business like that or do business with someone who did. That’s just my take on it. Thanks for the comments.
Silver/Gold/Platinum. Well they were before confiscation.
What a fascist/socialist thing to say. Boy this site has changed a lot in the last 8-9 years.
What’s the difference between liberty dollars backed by silver and a gift card backed by nothing?? Gift Cards are nothing but private currency, redeemable for nothing but that retailer allows you to buy.
If only 5% of the currency is in paper or digital form, the most that could ‘fake’ would be $1 million, not $9.5 million as the coins are MADE OF SILVER/Gold.
Actually private coinage became illegal by Act of Congress in 1864, yet small denomination coins were still produced in California until 1882 (when the law was enforced). Source: Guidebook of United States Coins (1997), p. 291.
The issuance of bank notes by national banks ended in 1935. Source: The Reserve Banks and the Money Market, (New York: 1936) Harper Bros., p. 74.
LOL Anyone can ‘print’ anything and claim it as money but if it’s not backed by something no one will use it. The Liberty Dollars are backed by silver..in fact 95% of the currency is literally made of silver or gold. I have no liberty dollars and no desire to trade in anything but US currency but to not only allow but blatantly support the confiscation of private assets is indeed fascist—and yes socialist—of you.
Actually, Krugerrands are minted by the South African government.
Is it because they want to make a profit? A profit consisting of other people's federal reserve notes? Why would they do that if they are so against the federal reserve dollars?
Do you even think about that?
Someone just made a few odd coins and notes collectible - keep an eye on ebay.
hmmm..just read this. Was this raid supposed to have taken place this morning? Because the article email states that that about 8:00 this morning a dozen FBI and Secret Service agents raided and then For approximately six hours they took all the gold
This was posted on FR at 10:50:21 AM EST.
Um.
Ah, no.
You might recall that the government is the one selling millions of gold and silver Eagles, as per congress, since 1986.
What the “norfed” folks were doing is something else entirely. First, they looked vaguely US mint-like, and had a face value of “$20”; it doesn’t matter if you make them out of tin or lead, you start making your own money and putting a dollar value on it, you’re gonna get some extra attention from Uncle Sam.
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