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<p>[QUOTE=&quot;fatima, post: 1577006, member: 22143&quot;]You don&#039;t understand what a $ silver certificate represented. You didn&#039;t have to &quot;buy&quot; silver with it if you wanted silver.&nbsp;&nbsp; It was for a measured amount of grains of silver.&nbsp; You could go to the US Treasury office, hand in your dollar bill and they would hand you a plastic capsule assayed to have the amount of silver in it.&nbsp;&nbsp; There are some pictures floating around here of these capsules.&nbsp; This restriction prevented the government from only issuing silver certificates limited by the silver on hand.&nbsp; &nbsp; </p><p><br /></p><p>The logic is not circular.&nbsp; You could no longer redeem the dollar for this physical asset.&nbsp;&nbsp; It&#039;s no different than having a deed to a piece of property and then being told that you can no longer take possession of said property, but that your deed is still worth something.&nbsp;&nbsp; If you are wishing to attribute &quot;circular reasoning&quot; then chew on that a bit.</p><p><br /></p><p>They had to eliminate redemptions of silver certificates because they could be exchanged one for one with FRNs and it was the excessive FRN redemptions that was putting the USA in a bad position with the metal.[/QUOTE]</p><p><br /></p>

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