Discussion in 'Bullion Investing' started by SCFY, Jul 2, 2013.
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The "collector value" is what people generally call the "premium" on physical metals, so we were down this road for a while.
I think you're missing the point. The point is, you were incorrect in your statement:
Instead of admitting you were wrong, you switch to collector value. I could care less about that, because to those people who had saved up dollars in Continental Currency, there was no collector value in them during their lifetime. If the same thing happened to the USD today, how would it help me if they have some collector value 200+ years after I'm dead?
The US never issued Continental Currency NOR Confederate Currency. I wasn't wrong in my original statement.
Paper is paper. I do trade USD paper for PMs now.
Without the Continental Congress there would be no US currency or US Nation. You go to public school? My ancestors fought for the Union side, but Dixie folks and currency were still American.
What fool said sink all of your money into metals?
I believe we read some one saying he and his fiance were gonna get rich "investing in silver".
Well when I started this thread I was not expecting such a long thread to develop, I am glad that this topic has so much interest in it. BTW I never felt like I would get rich from investing in silver, I felt like me and my fiance found another way to diversify our income and have a nice return someday in helping with my retirement, but thanks for simplifying it to the point that I look like a dope. Appreciated
The list is long, many on this site have expressed an all-in philosophy in metals. Many of these folks also no longer post.
Goldismoney2 is really a nice site, I like it alot, and yea noobie treatment is expected LOL
I have not lost money yet on silver. I will say I have lost money on stocks. I like silver but in balance.
I don't see what difference it makes where I went to school... and that borders on a personal attack.
Anyway, the Continental Congress had no authority to act on behalf of the United States, as it technically didn't exist until the Constitution was enacted. Any currency issued prior to the United States existing would not be legal tender backed by the US. As for Confederate currency, it was never accepted as tender in the United States of America (the Union, if you will), as it was viewed as counterfeit currency produced by a rogue group - the CSA.
History is very clear on this, regardless of what your personal opinions on who/what were considered American. Although the secession was deemed illegal by the Republicans in the north, that doesn't change the fact that the CSA chose its own government, including a new Constitution and President. The USA never acknowledged (nor backed) the CSA currency.
Again, don't make blanket statements about education, then use your own opinions to back up an argument as factual.
The United States had no authority to exist until the Continental Congress gave it that authority. You can blow off the fact that paper money inflated buy two American overspending governments (backed by nothing) was junk and the USD now is the same (backed by 20x debt per USD). The fact is junk fiat currency has happened here in the USA. After the War they went to a PM currency as the Continental Dollar (paper) was worthless and its system was not trusted. The USD started out honest and has become fiction. History repeating itself.
The thirteen colonies held the sole authority to create a new nation as the United States only after they succeeded in seceding from Britain. Upon ratification of the Constitution by New Hampshire (2 July 1788), the 2/3 necessary votes had created the new nation: the United States of America.
Continental currency wasn't circulating by mid-1781. Since the United States of America was formed SEVEN YEARS later, how can the failure of a currency that predates the country's existence be attributed to said country?
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