USA silver dollar like a Peace Dollar

Nothing wrong with my grammar...
That sentence makes sense...

 

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Regardless of the grammar, the communication is clear..and that's that!

 

Yep, that is that, because that explains that, when I'm trying to explain that that, isn't that, what is supposed to be that, when they are thinking that, I'm trying to think about that, but then that happened, and now we are stuck on that... LOL

 

Gold works fine as long as gold is money. Prior to World War I, the world economy actually had a larger percentage of international trade than it did in 1990, all conducted with gold and tracked in London. When you move to a system of paper backed by gold combined with fractional reserve banking, things start to unravel. A gold system would probably work better today because of computer technology which allows gold currency to be used through debit card technology without actually moving the gold out of vaults.

People today don't actually understand how the gold system used to work. It is almost forbidden knowledge [you aren't supposed to know and won't be taught in school]. Antel Fekete's writings are about the best source for anyone who is interested in how gold can be used as money in a complex modern economy. It seems that there isn't enough gold to support the amount of commerce taking place, but Dr. Fekete explains why this assertion is incorrect.

 

I ate my IRA for breakfast!

 

As I see it, "real" money is a trade medium that has an intrinsic "real" value, independant of it's stated value.

Clad coins and and paper money are basically I.O.U.'s, backed by the promise of the entity that issued it. In troubled times, the result is most likely to be inflation, or even hyper-inflation, because the entity prints vast quantities of money, with nothing to back it up, in order to pay it's debts. Examples include Argentina, and Germany of the 1920's. (see attachment)

But, if you have silver, gold, or any other tangible asset, it's value will normally increase or decrease, as the dollar's value decreases or increases.

 

Wow weryon so from what I read in your posts, it is okay for the government to turn their printing machines on 24/7, but if Miss B buys a 400,000 dollar house or someone needs a rolex to boost their ego they are the bad guys or the problem with our economy?

I had no idea that this is what my broken down English has leaded you to believe. It’s not okay to print out money to fund war and many useless government endeavors, but peoples frivolous spending and the banks idiotic investments have led us here, everyone is responsible….


As long as we are producing I.O.U.'s all any of us are doing is trading debt the sad part is that it is a vicious circle that ends in hyper inflation. We have all heard stories from elders in one fashion or another about what a buck would buy when they were a kid, and for the most part it is a funny story. The truth of the matter is that same buck today won't buy as much because things are so expensive, but because the buck has lost its purchasing power.

This is inflation and it’s very normal and necessary. Yes your grand dad could buy a car for 800 bucks , but he also made 8 cents a hour…. But the thing is your grand dad saved up and didn’t try to buy a one million dollar home on his poor salary , he made due with what he had… something that is unfamiliar to today’s populous

As a further experiment my challenge to you is this take 1 ounce of gold and 954.60 cents anywhere in the world convert both to that currency and see what gets you the most of that countries currency. (The dollar amount is based on our price of gold at time of this post.) I think then you might understand the importance of having money that is backed by more than a promise.

Not too sure what you are talking about here… but I have 1 oz of gold at 954.60USD and I have 954.60USD and I was to convert both to CAN funds I would end up with approximately the same money if I was to exclude the transaction fees.

How could we back up currency with cash when there is not enough precious metal to represent America’s situation? Let alone the rest of the world….

 

Nope... Not everyone is responsible... Honest hardworking people, aren't responsible for all this... My parents, NEVER HAVE, AND NEVER WILL, buy things they can't afford. Everything we have, we can pay for, we are not in debt. I'd like you to elaborate on everyone is responsible.
The government spends billions of dollars a year on things, that shouldn't even be necessary.
(example) Department of energy, uses 24.2 billion a year, to lessen dependence on foreign oil... (HOW IS THAT WORKING OUT) Another dumb thing, done, by Mr Jimmy Carter

Really isn't that hard, if you can't afford something, don't buy it
People think that as long as others pay for it, it is okay... That is not the case. When I go to the doctor's office (for I am very ill) my mommy pays for me, co pay of $20, then she pays for the other 4 patients in there, they just pull out the medicaid card, then when they leave, they, and their 6 kids, get in their 100,000 dollar vehicles, without a care in the world...
This is not a hard concept to grasp, if people would just OPEN THEIR EYES
If I want a coin, that costs, $100... And I have $25, but I'm expecting a payment of lets say $80 tomorrow, and that coin I want ends today, guess what.. I'm not bidding... You know why? Because I don't have the money.. Just because I am going to get it, doesn't mean I should bid, you never know what is going to happen.... And people are just as dumb with buying a house, as well as the banks, that give them the loans...
People who make $25,000 a year, are moving into a million dollar home, and the banks just help em' out... This is dumb. Once again, this concept is not hard to grasp.

Back up our currency with cash?
So you are saying that we should print more things, that we do not own, right?
America got itself into a deep rut. We owe everybody money... Maybe we should just print some monopoly money, and pay it off... And maybe stop paying people overseas to do our jobs, and bring it back here.
Very simple, government gives X amount of dollars to all people over a certain age, to retire, this creates job openings galore, so now, we have our job crisis solved, then, we make those people we gave money to, buy a AMERICAN MADE car, thus solving our auto crisis, and buy a house, that they can afford, thus solving our housing problem. I got this in an email, and also, saw it on TV, and when you think about it, that would work!
Really, when you think about it, it is not that hard to grasp any of this... In the long run, it would be easier for us, to pay illegal citizens to leave our country, we might lose some money one year, but we wouldn't be paying 400 billion a year, to keep everything up and tidy with illegals.
So we could save ourselves, billions of dollars (which we don't have to being with) just by doing some simple changes...
Our system doesn't work, the way it is... Something's gotta give, and I, as long with many other hard working americans, are tired of being that ones, that gotta give

 

weryon the rule used to be " he who dies with the most gold wins" now from what your saying it has been replaced with " he who has the most I.O.Us wins"
JMO but it has been my observation but the only ones I see collecting on those I.O.Us is the government. Goes to prove it is expensive to have money.

That is sad weryon you work hard all day and when payday comes they give you an I.O.U. you convert that into multiple I.O.Us and you pay for your doo dads and expenses with I.O.Us and you are perfectly ok with this ritual because the governments name is on it, but what I believe you are over looking is that they back those notes with the sweat of those that work. So since you feel you completed the first challenge try this one next time your power or utilities sends you a bill simply get a piece of paper and write your own I.O.U and see how far that gets you.

 

I was saying gold, not cash, sorry my typo. And no i'm not saying print more cash ...

 

Yes we use a IOU type system where money is created on dept , I don’t disagree with you. As for the rest of your post I don’t get what are you implying… If Jane gets paid 9 bucks a hour to work at a coffee shop , can she not buy things with her IOUs that are backed up by the gov ?


on a side note what generation are you part of ? i'm 22

 

"everyone"

 

weryon don't understand how knowing how old I am is going to help you understand better. Bottom line some genius at the bank decided to give Jane a loan that she would never in a million years afford then gave that same loan to a million other people.

When these people failed to meet their responsibilities they went running to the new president saying that they needed to be bailed out or a lot of good paying tax payers would be out of work. Simultaneously the car companies followed and said we have been doing business the same exact way for 20 years and the people are not buying we need help or there will be a lot of good tax paying people out of work.

By the way I would like to note that I do not recall the government putting this to a vote. We are intelligent enough to get them into office but not smart enough to vote on these matters intelligently. This is the same government that has decided to run the I.O.U. printing machine for all it is worth, nevermind how many generations it would take to pay it back because as long as the country and people are in debt it is the tail that wags the dog.

 

The corporations……man and his overwhelming feeling of self preservation, so bent on making that extra buck that he will turn a blind eye on anything to go that extra inch. I loved the way that an executive can receive bonuses for crashing a company in the ground in these hard times.

And as you said , every one elects a administration but after the woop woop is all done and gone no one cares what the president decides or what insane power he gives himself ( in the case of bush)

 

I wanted to now because I won't type 200 words for a ten year old that's just going to give me ten year old's reply

Note that I do not think you are ten,

 

Weryon that was fair about the 200 words for a 10 year old I am 40. As you stated CEOs receiving bonuses for crashing a company and presidents presuming powers of insane proportions, and worse hard working Americans left paying the bill, are just a few good reasons IMO to buy siver and gold. The direction that this snow ball is headed is not a good one, I really do not see the government helping an individual out when the monetary system crash and burns. With the entire government finding reasons to keep the printing machines on, hyper inflation is sure to come.

Earlier you mentioned that there was not enough gold to support gold backed currency and that is just not true. There is still plenty of gold in the ground and those mine owners know exactly where it is. The gold minning industry is a business and as long as it is profitable they mine when gold drops they shut the mine down and wait until it goes up then mine some more. How ever it does get to be more difficult when you throw tree huggers and activists into the picture.

 

This is what I don't understand. I do understand this argument with the paper money...but not with the clad coins. Clad coins have an intrinsic metal value. You have to remember that when they minted coins out of silver and gold those metals had a much lower value. A $1 silver coin didn't contain $1 in silver. The face value of the coin was always over the value of the metal. In today's world, the market value of the clad metals is worth nearly as much as the coin's face. In the recent past, some clad coins have even had more metal value than fave value. I understand the argument about the paper being basically worthless...but the clad coins are not.

 

So let me guess Weryon....
You wanted "change" for America right...
Bush, was not the worst president ever, for your information.
I love how everyone blamed him for high gas prices, and now, it is slowly creeping back up, a few weeks ago, below $2, and now at my gas station, $2.50.
Please, tell me, what INSANE power, did he give himself...
Lemme' guess, you are going to say, sending our military to Iraq, or some dumb answer like that. You don't mess with America, and kill innocent people, and get away with it.
You say no one cares, what the president decides...
I sure as #$%^ do! I watch the news everyday, read the paper, read articles online, I care about everything Obama has done so far, and I can't say I'm a happy camper... I care about every decision, every choice, everything said, don't just assume, because you don't give a hoot, what kind of power the US's president has, does not, for any reason, mean that the rest of us don't either

 

This is no new argument. However, in the past, the debate was between solely precious metal coinage and a mixed coinage, including lead or bronze. To give two examples, and bring us back to a numismatic discussion, Erasmus once lamented the state of the economy by decrying the lead coins in circulation. And the English crown, before the 19th century, thought that minting of bronze coins was below them; thus, all English bronzes before the 19th century were minted privately!

 

I'm not going to go in details on this because my post would be deleted...

bl_ _d