why is gold and silver going down right now?

Hello

I think it is apparent that our friend will never give you a truthful answer to this question. This theological reasoning on economics is common through out the Middle East, particularly in Lebanon and Egypt. In my time spent in those regions, the diffusion of this distrust of bankers and banks, greatly compounded the problems of economic revitalization. Fatima has exposed enough of her views (BTW Fatima is a women's name although the poster can be male or female), to repeat the classic Middle East teachings about banking and economic political control. It is a blind hatred of a demonized fantasied devil, hence the virtuosity of his/her posts about bankers and governments. He/she has classified those people (Banksters) as a characture that can be bent to the preconceive notions of hatred that he/she wishes to justify.


Sincerely

Amanda

 

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Hello

that is not true. State owned and state chartered banks created so much private paper that they fueled a rapid inflation which compounded the programs of the 1837 panic, as one example.

In the 1860's, the Supreme Court of Samuel Chase allowed non-species paper currency as legal tender, largely because the government had already done so in response to falling silver prices.

So your statement is inconsistent to our current understanding of history, or the primary materials of that time period.

Sorry

Amanda

 

In your experience, are they taught this in school or is it street knowledge or media.

 

Hello,


from what I observed, and I worked with the UN in these area between 1981, 1993, that it is both, media and official teachings. In Egypt, or example, they've had television shows based broadly on the "Protocols of Zion" which outlines a view of banking almost verbatim of the posts here. The culprits, of course, in those stories, being the Jews who control the banks. Similar teachings are given in the school system, which is largely run by Islamic Fundamentalist groups, in schools called "Madrashas" which in Egypt are run by the Muslim Brotherhood, and in Lebanon a variety of Muslim groups, but as time went on, increasingly by Hezbollah. They teach these lessons and support their views with an informal network of Islamic "based" banking societies, mostly informal, but which also lend to funding of terrorist cells around the world.

As I said, the arguments or theories put out are almost verbatim what Fatima has said in various postings in this thread, such that there is a likely influence from these wells of thought that can hardly be ignored.

Sincerely Amanda

 

Actually Cole-guy I agree with you, that the average American has no clue, nor cares about economic policy/debt. But this only adds to the long term problem that we must face.

 

By the way I met a guy at a coinshow once. He was selling Roman Coins. Apparently this was some empire in the past that shared our notion of expansionism.

 

Totally agree. There is alot of ignorance in America... a lot of people believing everything they hear.

 

I agree, Jason. Because they don't care doesn't mean they shouldn't. I guess what I was getting at is it's not their faith in the system that determines it's success, otherwise all would be peachy right now.
Guy

 

Hamilton was the one who had the GSR pegged which invoked Gresham's Law and lead to the demonetization of silver, something any thinking person would have seen coming (yes hindsight is 20/20). He did this the year prior to instating the first central bank of the US. It's no wonder he was accused of being a British spy and was challenged to a duel by Aaron Burr. That being said, Hamilton may have been right, but the blame does not rest on Jackson for restoring a Constitutional republic. It lays on Hamilton for ushering in the central bank that required such a depression to get back to a free market. It was ultimately the peg of the GSR that lead to the crime of 1873, which allowed for gold to be swapped for dollars without silver in the mix, which has lead us to the debt nightmare we have today. We can thank Mr. Hamilton for getting the ball rolling by undermining sound money.

 

This is stating an opinion. You did not answer the questions yet again.

 

Thank you for that distinction Amanda. I did intend my statement to be in the context of gold and silver certificates from the Federal government however, not taking into account private banks which would not have impacted the buying power of the Federal money relative to gold and silver, although still causing inflation nonetheless by expanding the overall currency supply. However you bring up a good point, in that a gold standard cannot work if there are competing localized currencies.

 

This was because it accepted Spanish gold dollars as legal tender until 1857. You didn't understand the reason for the coinage act. The gold coins were already defined as legal tender by the US Constitution.

Legal Tender means that it is accepted for tax payments. • Article I, Section 10, Clause 1: of the US Constitution states “No State shall...coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.” i.e. taxes.

Hence, Gold & Silver coin were deemed Legal Tender by the Constitution when it was signed. The coinage act of 1857 simply limited it to US gold and silver coin.

You are incorrect.

 

By what standard? By the standard of someone who might call the sky Yellow?

 

No they were official currency. Nobody weighed the darn things. I'm trying to find some polite synonym for the word Crackpot.

 

Then you must have misunderstood the post you were responding to as the discussion was about the INFLATION RATE over a longer term.

 

What is a survivalist and what does it have to do with this topic?

 

Really, Jackson eliminate the bank and that causes a financial collapse, and you cal it a correction based on total nonsense, and blame hamilton who was dead for 20 years at least. Why didn't I think of this.

Aaron Burr, the same one who tried to take over the government is a Coup? This was your salvation for Democracy?

Unbelievable.

Ruben

 

Oh I don't mind if you use the world crackpot. Everyone here expects you to use these tactics. If you need some stronger words, please feel free to DM me. I suspect however you have already heard them.

 

Then you don't understand the US Constitution and the definition of legal tender.

 

Because you don't understand Hamilton. No surprises here as you have gotten the rest of it wrong too.