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<p>[QUOTE=&quot;fatima, post: 1162274, member: 22143&quot;]Well this is due to the fact that it was legally defined to be this way.&nbsp;&nbsp; Executive order 11110 </p><p><br /></p><p><i>&#039;(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of an outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,&#039;....John F. Kennedy, THE WHITE HOUSE, June 4, 1963.</i></p><p><br /></p><p>In other words, the US government was selling its remaining stockpiles of silver at essentially $1/ounce.&nbsp; (or one silver dollar)&nbsp; &nbsp; They stopped the redemptions in 1968 when the silver supply was exhausted and for the fact that it was no longer possible for the the government to attempt to hold the Federal Reserve Note at parity with Silver Certificate dollars.&nbsp;&nbsp; They were printing too many FRNs as they do now.&nbsp; A couple of years later, Nixon was forced to end gold redemption of FRNs with other nations for the same reason.&nbsp;&nbsp; </p><p><br /></p><p>The point being, is this won&#039;t be repeated because this is a very specific situation that hasn&#039;t existed for 43 years.&nbsp;&nbsp; Silver is now a purely speculative endeavor which, BTW has burned many people who have thought otherwise.&nbsp; That will part will get repeated.&nbsp; This is because people still believe that Silver unlike Gold, has something to do with currency printing.</p><p><br /></p><p><br /></p><p>(note that while the USA got rid of its silver, it held on to its gold)[/QUOTE]</p><p><br /></p>

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