From a Kitco News Spot: Ron Paul to Probe U.S. Mint Coin Shortage 01 April 2011, 04:08 p.m. By Daniela Cambone Of Kitco News http://www.kitco.com/ Texas (Kitco News) -- Rep. Ron Paul, R-Texas, has one question for the U.S. Mint: why is there a coin shortage? He is aiming to get to the bottom of this during a scheduled April 7 hearing of his U.S. House Subcommittee on Domestic Monetary Policy to examine the bullion programs at the U.S. Mint. edited Watch the Exclusive Ron Paul Interview with Kitco News Here is the link to the article. http://www.kitco.com/reports/KitcoNews20110401DC_ron_paul.html
Wait till they test the gold at Ft. Knox. They will find out they are only Gold platted Tungsten bars.
Thanks for posting that article, I have expected Ron Paul to make at least some waves with the turnover in Congress, nice to see that he is not disappointing. Back in the days before the civil war, all sorts of currency was used in this nation, the spanish milled dollars especially, we even modeled our currency after them. A clerk back then must have had to have known a wide variety of money and their relative worth to survive. A local coin dealer once told me that a car dealer had a promotion where you took a test drive in one of their new automobiles and they would give you 5 golden dollars, for the next two weeks he had people trying to sell their sacageweas as gold. Sure it sounds like the people were idiots, but they are not really idiots, just ignorant. If they started allowing competition in money it could have some unintended coinsequences, your employer being Europe based may pay in Euros, your partners employer may pay in Yuan, your bank may want to take a little cut for the conversion, and forget about local retail stores accepting federal reserve dollars, it could make some real interesting situations.
I guess that depends on who the excuse is for. The mint looks for vendors worldwide. All potential vendors must be able to meet certain standards before they are awarded the contract. There is huge competition for these contracts from various vendors all over the world. And the contract is awarded to the vendor deemed most able to meet the needs of the mint. So what's the pathetic part ? That the vendor is in Australia and not the US ?
Agree, depending on foreign companies always means them weighing the needs of more than one country/customer.
Doug: I was under the impression that by sourcing the story it was not an infringement? Any way, I added the link to the sory for others to see as well. Regards, RickieB http://www.kitco.com/reports/KitcoNews20110401DC_ron_paul.html
I didn't realize there was a shortage. The mint has surpassed all bullion sale records, so to me that just means the demand is growing faster than silver can be mined. If I can go onto Ebay and find over 150,000 listings on any given day for ASE's, thats not exactly a shortage in my book. Guy
Never gave Ron Paul much tought. I'm reading a book for a second time, The Creature from Jekyll Island by Edward Griffin. Its a scary book, about the creation of the Fed, World banks and very powerful wealthy persons. Ron Paul comment on the book "A superb analysis. Be prepared for one heck of a journey through time and mind". It talks about how banking causes many of our problems and inflation. Reads like a fiction novel and kind of wish it was many a times. As I said a very scary book! Ron just having read the book and comment on the book. He's got my vote. back to coins inflation and fiat money is all covered inthe book.
Perhaps I misunderstood your tone, but it seemed to me that you faulted the mint for using the vendor they are. My question is, how is it any fault of the mint's that they cannot find a US based vendor that meet the set standards and qualifications ? I agree, yeah it's too bad that some US based company cannot do the job or keep up with the demand. But that isn't the mint's fault. The proper way to do it is to copy a paragraph or two and then just post the link to the rest of the story. That is how the fair use clause is intended. But copying the entire story, even if you post a link, still violates copyright law.
