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<p>[QUOTE=&quot;19Lyds, post: 1942267, member: 15929&quot;]Looking up the term &quot;monetize&quot; shows:</p><p><br /></p><p><font size="5"><b>mon·e·tize</b></font></p><p>/ˈmɒn<img src="http://static.sfdict.com/dictstatic/dictionary/graphics/luna/thinsp.png" class="bbCodeImage wysiwygImage" alt="" unselectable="on" />ɪˌtaɪz, ˈmʌn-/&nbsp;&nbsp; Show IPA</p><p>verb (used with object), mon·e·tized, mon·e·tiz·ing.</p><p>1. to legalize as money.</p><p>2. to coin into money: to monetize gold.</p><p>3. to give the character of money to.</p><p>4. Economics . to convert (a debt, especially the national debt) into currency, especially by issuing government securities or notes.</p><p><br /></p><p>I take this to mean that, since paper has no intrinsic value, paper notes &quot;must be monetized&quot; whereas coins which have intrinsic PM value do not need to be monetized. But then that could be all wet as well.</p><p><br /></p><p>Folks have totally forgotten the purpose behind coins in that they&#039;ve been brainwashed into believing that something which has no value (notes and coins) actually has value (money).</p><p><br /></p><p>Coins were necessary by the young government as a mean of promoting a strong economy for the country to encourage growth and investment. Typical transactions, historically speaking, were completed with precious metals (i.e. gold, silver, copper) Before the United States Mint came into existence, the coins utilized were, again, of gold/silver/copper and from foreign countries. Those foreign countries assayed their coins for a correct monetary value of the gold or silver within the coin. A need for an official United States coin was definitely needed.</p><p><br /></p><p>The creation of the coins had everything to do with the promise that the US Government insured that a proper amount of gold or silver was in every coin which, BTW, was still based upon a precious metal&#039;s intrinsic value. (Perhaps one reason that dollar coins were so large?)</p><p><br /></p><p>At anyrate, prior to the country coming off of the gold and silver standards, it was the precious metal value within the coin which gave it its actual value. The value of a coin today, is only a &quot;promise&quot; of the value (wink wink). In other words, its worth a dollar because we say its worth a dollar. This is monetization.</p><p><br /></p><p>The $20 value of the double eagles was based upon the value of the gold within the coin, not simply because the government said so and this was a world wide acceptance of gold and silver as monetary vehicles.</p><p><br /></p><p>All that changed in 1933 but I do not for 1 second believe that these $20 gold pieces had to be &quot;monetized&quot; which is a BS word dreamt up by the Federal Reserve Bank to give value to a piece of paper.</p><p><br /></p><p>And that&#039;s all I&#039;m gonna say.[/QUOTE]</p><p><br /></p>

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