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<p>[QUOTE="Cloudsweeper99, post: 712812, member: 3011"]You need not say more. As I predicted, the response would be "the way things are is the only way they could possibly be." It's easy to dismiss an argument without actually having to refute it. I see no reason why it is some sort of economic law that currencies MUST always depreciate. If the plan had been in place, the Hunt situation would probably never have occurred. But let's say it did and silver coins carried a value equal to $55. So what? How much intrinsic value is in a paper $100 bill? How much metal in a dollar coin? We constantly use currency in this manner, yet can't open our minds to new possibilities. Somehow, the whole concept of sound money abhors people. This is why I said it will never happen. It is ingrained too deeply in our minds that prices always go up and the value of currency always goes down, and that's perfectly okay and shouldn't try to be corrected.</p><p><br /></p><p>Edit: Here's another way of looking at it. Most foreign currencies do not have a fixed dollar value. They only have a floating rate value. The concept of reintroducing silver as money in this way isn't conceptually different than accepting the idea that two currencies can circulate at the same time in the same place. Many nations with weak domestic currencies have historically used the US dollar in this manner [until recently]. It's a new twist on an old theme.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 712812, member: 3011"]You need not say more. As I predicted, the response would be "the way things are is the only way they could possibly be." It's easy to dismiss an argument without actually having to refute it. I see no reason why it is some sort of economic law that currencies MUST always depreciate. If the plan had been in place, the Hunt situation would probably never have occurred. But let's say it did and silver coins carried a value equal to $55. So what? How much intrinsic value is in a paper $100 bill? How much metal in a dollar coin? We constantly use currency in this manner, yet can't open our minds to new possibilities. Somehow, the whole concept of sound money abhors people. This is why I said it will never happen. It is ingrained too deeply in our minds that prices always go up and the value of currency always goes down, and that's perfectly okay and shouldn't try to be corrected. Edit: Here's another way of looking at it. Most foreign currencies do not have a fixed dollar value. They only have a floating rate value. The concept of reintroducing silver as money in this way isn't conceptually different than accepting the idea that two currencies can circulate at the same time in the same place. Many nations with weak domestic currencies have historically used the US dollar in this manner [until recently]. It's a new twist on an old theme.[/QUOTE]
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