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To: dennisw; Professional
Yep, gold and silver are just the same as gravel and bricks, only more compact. They have no other inherent value.

That's probably why FDR banned the private possession of gravel and bricks in 1933.

“I, as President do declare that the national emergency still exists; that the continued private hoarding of gravel and bricks by subjects of the United States poses a grave threat to peace, equal justice, and well-being of the United States; and that appropriate measures must be taken immediately to protect the interest of our people. Therefore, pursuant to the above authority, I hereby proclaim that such gravel and brick holdings are prohibited, and that all such coin, bullion or other possessions of gravel and bricks be tendered within fourteen days to agents of the Government of the United States for compensation at the official price, in the legal tender of the Government. All safe deposit boxes in banks or financial institutions have been sealed pending action in the due course of the law. All sales or purchases or movements of such gravel and bricks within the borders of the Untied States and its territories, and all foreign exchange transactions or movements of such rocks across the border are hereby prohibited...” - Proclamation by President Franklin D. Roosevelt, April 5, 1933

OTOH, unbacked paper fiat currency has a 6,000 year history of always holding its value. That's why French Assignats and German Weimar d-marks are worth so much today.

164 posted on 10/20/2007 9:59:31 AM PDT by Travis McGee (---www.EnemiesForeignAndDomestic.com---)
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To: Travis McGee

Read up on old man Bush and his ($15 million IRRC) insider deal in Barrick gold mines with Brian Mulroney. These “free trade” con men are hedged up the wazoo with gold and other hard assets

________________

First you had gold and silver
Then you had paper money that was backed by gold and silver to varying degrees
Then we entered the age of plastic credit cards. This created even more “money”
Now money exists on bank ledgers as electronic notations

We get further & further away from “real money” you can hold in your hands instead of relying on promises of others as to what your “money” really is


165 posted on 10/20/2007 10:28:05 AM PDT by dennisw (France needs a new kind of immigrant — one who is "selected, not endured" - Nicholas Sarkozy)
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To: Travis McGee

More of George Bush and Barrick mining
First time I read about this was Forbes maybe 10 years ago

http://www.snopes.com/politics/business/pascualama.asp

http://www.google.com/search?num=100&hl=en&rlz=1T4GGIH_enUS242US242&q=Barrick+++%22george+Bush%22


166 posted on 10/20/2007 10:30:16 AM PDT by dennisw (France needs a new kind of immigrant — one who is "selected, not endured" - Nicholas Sarkozy)
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