Posted on 03/28/2008 3:19:49 PM PDT by DivaDelMar
The Constitution doesn't mention the mint and doesn't protect people's right to sound money. It bars the states from making paper money legal tender, but doesn't bar Congress from doing so, something the U.S. Supreme Court recognized long before Roosevelt was ever elected.
Bump for an excellent read.
Investment by definition involves something other than money. Is gold money? It is no longer used for money in a public issue government sense.
this really sounds like one of those theoretical things that flies in the face of common sense interpretation of historical events. For instance, it was partly England’s very tight control of money, specifically “specie,” that led to impoverishing and radicalizing even moderate people like George Washington.
He knew!
“...the hands of the people that were to lose 95 percent of their value during subsequent years.”
People lost 95% of their value, or just their hands?
Gold and silver come in all formats just the way it always has.
You can still buy small quantities of pre 64 silver quarters, dimes, half dollars and dollars.
You can buy 1/10th oz gold coins.
Gold merely retains value as Federal Specie Currency loses it.
Best regards,
Too funny. When I was buying gold twenty years ago at a shade more than $200 per ounce I had people deriding me as a loonie and a paranoid. When I was still buying it as the price approached $400 an ounce they were still laughing. Now all of it is worth more than $1,000 per ounce and I’m the one laughing.
That is so great. I am so glad a great FRiend has been successful in this. Congrats!!! Good news starting the weekend!!!
I bought g & s in 1999 from a coin dealer. Paid cash and even got a hand written receipt. 20 oz G and 500 oz s.
He has no record of the buyer. There is no money trail.
I think a silver oz coin is better for bartering or exchange.
bttt
One very revealing fact I heard recently: If you compare the current price of oil to its price in gold....its price has hardly changed at all in the last several years.
It’s the paper irredeemable dollar that has sunk....not oil that has risen so much.
? Ya lost me there. Whether or not gold is money, a very crucial distinction. Along this line, it cannot be an investment, but rather the unit of account. Investments are expected to provide a return, above and beyond that provided by fixed investments like bonds.
? Ya lost me there. Whether or not gold is money, a very crucial distinction. Along this line, it cannot be an investment, but rather the unit of account. Investments are expected to provide a return, above and beyond that provided by fixed investments like bonds.
We’ll all be getting an education soon enough. Like it or not.
Right now: $1000 an ounce.
From 1789 to 1933, $20 an ounce. From 1933 to 1971, $35 an ounce—but Americans were forbidden to own monetary gold. In 1965, the silver was removed from the dime, quarter, half dollar, and silver dollar. In 1969, the government stopped honoring Silver Certificates (the Dollar Bill) and the Silver Certificate became the Federal Reserve Note, which is a Note for Nothing, which is like an I.O.U. that says ZERO on it. From 1971 to the present, we are on fiat money.
Good to know someone else who appreciates the value of real money.
My Microsoft shares did okay and fortunately I sold them in 1998 to buy my house in Victoria. The house has done better than Microsoft in the past ten years. I’m doing okay although I did get nailed on Intel.
I'm quite happy with my federal reserve notes ~ they are as valuable as anything else people think to be valuable.
And, as the man said, you can pay your taxes with them!
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