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<p>[QUOTE=&quot;fatima, post: 839377, member: 22143&quot;]Actually this isn&#039;t exactly right.&nbsp;&nbsp; Prior to the 1930s most day to day transactions in the USA&#039;s history and in the colonies before that, were handled by exchanging gold and silver.&nbsp;&nbsp; Once the USA was formed, the only currency issued by the USA was gold and silver coinage and it stayed this way for decades.&nbsp; However it didn&#039;t matter if people got paid by a gold coin from the USA vs one from Europe or for that matter a hunk of gold or silver.&nbsp; Hence there was no government control of commerce and taxation was extremely limited.&nbsp;&nbsp; People thought of money in terms of gold and silver and their relationship to each other.&nbsp;&nbsp; I might be off on this a bit, but the amount of silver in a silver dollar equalled about a day&#039;s worth of work, a gold coin was about a week&#039;s amount of work.&nbsp; This is why the dime, quarter and 1/2 dollar are directly proportional by weight to the silver dollar.&nbsp; It was the metal, not the denomination that people cared about. </p><p><br /></p><p>By the 1930s however the government and bankers had created the fiat banking system via the Federal Reserve and took the opportunity of of dire times to force people to give up their gold and use FRNs in it&#039;s place.&nbsp; This is the beginning of the move to what we have today and the generational changes that led from currency based on assets to one based on debt.&nbsp;&nbsp; The next step was to remove silver from the coins in 1964, the breaking of the promise to redeem silver certificates dollars in 1968, the elimination of lawful money in 1971, and finally Nixon&#039;s breaking the promise to redeem $s in gold for international settlement.&nbsp;&nbsp; </p><p><br /></p><p>The people living today for the most part don&#039;t understand this fundamental difference in the role of money in their lives.&nbsp; For most of history, it was nothing more than a mechanism for commerce and based on trading an asset.&nbsp;&nbsp; Now it is a method of control and taxation based on the exchange of banker created debt.[/QUOTE]</p><p><br /></p>

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