Posted on 11/20/2010 4:30:37 PM PST by CincyRichieRich
As the editor of the Silver Bear Cafe, I try to focus on the ramifications of world events. I try to understand how what's going on now will affect your pocketbook next week, next month, next year. It is my sole intent to help you consider the possibilities which will, in turn, help you prepare for your financial future.
One of the most important aspects of your financial survival concerns your understanding of the nature of money. If you believe that precious metals do not constitute "money", you may have been misled. If you have been misled, who misled you? Why? And "What's wrong with this picture"?
What is money? The whole point of money is suppose to be the provision of a convenient and liquid medium that can be exchanged for less liquid value. It is a go between. One strives to accumulate money so it can be exchanged for something else.
In our illustrious history, we humans have tried everything from salt to sardines as a medium of exchange, but nothing has seemed to work as well as gold and silver. A person bringing a relatively illiquid item to market could swap it for gold or silver, secure in the knowledge that the metal would retain its value for as long as he chose to hold it and would be accepted as payment for anything he wanted when he chose to spend it.
The condition that your gold and silver will retain its value for as long as you chose to hold it is the most valuable characteristic of the "barbarous relics", and provides the fodder for me to champion the cause of precious metals ownership, and for my ensuing attack on the debasement of the American dollar.
(Excerpt) Read more at silverbearcafe.com ...
"Pieces of Eight" were commonly used as currency in the USA throughout the early 1800s and only ceased as such when sufficient U.S. coinage was in circulation!
Cincy
“If those folks control the military, then their wishes get done”
A clearer picture of the degree to which our military command has been co-opted is at hand in the sparsely covered fortunes of one Lt Colonel Terry Lakin. If you listen real close, the silence you hear may be thunder.
Rab
That won't happen in my opinion.
Our currency will become very high in demand during a major deflationary downturn that isn't artificially propped up by the Federal government taking out enormous amounts of debt.
I don't believe we'll see a gold or silver backed currency again. The bankers now own something much more valuable than chunks of metal - claims on our future labor.
That won't happen in my opinion.
Our currency will become very high in demand during a major deflationary downturn that isn't artificially propped up by the Federal government taking out enormous amounts of debt.
I don't believe we'll see a gold or silver backed currency again. The bankers now own something much more valuable than chunks of metal - claims on our future labor.
I guess I have a spatial relationship problem. They are 39mm. They were bigger & heavier than I expected. Pretty cool stuff.
..what I was thinking and what I wrote....*smiles*
I don't see that either. No, what I am concerned is becoming a genuine possibility is a collapse of such severity that metals become the medium of exchange. Not simply backing for paper money.
Ping
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.