Posted on 12/19/2011 9:25:57 AM PST by SeekAndFind
I had a one dollar silver certificate which I gave my Granddaughter. I am sure I read some time back that they are not even considered legal tender any more.
Is that right?
I know you can no longer turn them in for silver.
And people wonder why he ended up with a bullet in his head.
Lincoln issued 1.8 billion in notes. Kennedy 4.3 billion. Shortly after they were killed the Greenbacks and U.S. treasury notes not only ceased to be created but also were removed from circulation.
The Secret of Oz - Winner, Best Docu of 2010 v.1.09.11
http://www.youtube.com/watch?v=swkq2E8mswI
By the way, the maker of this documentary, BILL STILL, is running in the Libertarian primary for their candidate to be President.
This subject is what Ron Paul is getting at...
But America still thinks currency is money.. when it isn’t..
They're called Federal Reserve Notes. They come in lots of handy denominations.
Unless this money is backed by a form of collateral (US notes were backed by gold and silver), it is fiat money and eventually be worth only the paper it is printed on.
Here's the chart at that link:
If you notice the huge ramp up in the 1970's, that was due to Nixon taking us off the gold standard. At the time it was called the "Nixon Shock".
...The Nixon Shock was a series of economic measures taken by U.S. President Richard Nixon in 1971 including unilaterally cancelling the direct convertibility of the United States dollar to gold that essentially ended the existing Bretton Woods system of international financial exchange...
Hard to take a blog called “The Economic Collapse” very seriously.
And why isn’t this blog under Bloggers, Mr. SeekAndFind?
Tell me about it.
In a previous article about money and debt, I explained how more government debt is created whenever the U.S. government puts more money into circulation....
For example, the guy who wrote this.
When the government wants more money, the U.S. government swaps U.S. Treasury bonds for "Federal Reserve notes", thus creating more government debt.
Wrong. The government doesn't want FRNs, so it doesn't swap bonds for them. When the government wants more money, they sell bonds to primary dealers as well as to individuals.
When each new Federal Reserve Note is created, the interest owed by the federal government on that new Federal Reserve Note.....
The Treasury doesn't borrow FRNs, why would they owe interest on them?
So we need to get the American people educated about these things.
Great idea. You first. LOL!
This video was a must see for me. I started watching it again last night.
Is that right?
According to the Bureau of Engraving and Printing they are still legal tender. They are probably removed from circulation whenever a bank catches them, just like when a teller separated the old $100s from the new ones when I returned from Las Vegas one time. (She stacked them back together when I asked her why she had separate stacks, which was odder than just saying that the old ones weren't going back into circulation)
p.s. - I’d pay a penny for the thoughts of someone like a Paul Ryan on this video...
yes it is... send them all to me and I will dispose of them properly for you no charge.
interesting
I’m pretty sure there are one or more of these on display at the Bataan Memorial conference room at Fort Ord in Monterey, CA.
=8-)
Why would it elect to pay interest when it could elect not to? It is a discipline. Let the government produce debt without limit, and the dollar ceases to be scarce - at which point the value of the dollar goes to zero. At which point it does not matter how many dollars the government prints, because it has lost the ability to print money. On the other side of the ensuing financial collapse, there is a man on horseback . . .
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