I think that my readers will agree that there is a desperate need for some fresh thinking about money in the U.S.
Many respected analysts worry that the expected action by the Fed to apply a new bout of QE after the coming elections is fraught with danger.
Fiat money in the US is in an advanced stage of decomposition and when money rots, the whole social, economic and political structure of the nation rots with it. A return to sound money is urgent. More and more people are aware of the perilous road ahead if nothing is done.
The problems facing the US are so gigantic in nature, that an all-round solution to them is impossible when analyzed in practical terms. A return to sound money is a return to gold and silver as currency. Gold is outstanding as money – but how to realize that goal? Silver is great for popular use – but again, how to regain it?
The only way open to regain a sound footing of real money for the US economy must be by establishing a process through which there will be a gradual and natural return to sound money. It is impossible to reform or improve the present monetary system of the US any other way.
The US abandoned sound money in a series of gradual steps; the first metal out of the monetary system was gold, in 1933; the second metal out of the system was silver, in 1965. The return to sound money would follow those steps, in inverse order: silver would return first, because silver has always been the money of the people; gold would return last, silver having opened the way.
Why did silver coinage disappear from circulation in America? It disappeared because the dollar price of silver rose to a point, back in 1965, where the value of the silver in the silver coin was superior to the value of the coin itself. The result was that most silver coinage was melted down into bullion, which had a value greater than the monetary value of the melted coins. On October 20 a silver dime contained silver worth $1.72! (www.coinflation.com) Dollar inflation caused by expansion of the fiat money supply and expanding credit drove up the price of silver and thus drove silver coinage out of circulation.
The people who control the gold and silver control everything else. Once you all buy your gold and silver it will be repossessed. Been there, done that.
ReplyDeleteMoney is a medium of exchange and does not need to be backed by precious metals.
Money is backed by the productivity of the people.
It is not "fiat" currency.
The problem is USURY.
The solution is community currencies-interest free money.
Ask Hugo Chavez all about it.
Yes , the problem IS usury. Precious metals, because of their unique nature, can be used as money and if they are accepted at a specific value they work very well.Interest is not evil in and of itself.People need to be educated about the appropriate uses of interest and money. Eliminate tax incentives for using other peoples money and it becomes much less destructive.Learn to buy what you NEED with cash and learn to live without whatever you don't really NEED. Simple. No mortgage, credit card, etc. and your life becomes very simple.
ReplyDeleteThe people who control the gold and silver control everything else. Once you all buy your gold and silver it will be repossessed. Been there, done that.
ReplyDeleteyour gold was repossessed?
you lived in the 30 s
in the thirties
we didnt have internet
also they bought gold sell it in the depression buy silver flip it
first you cant eat gold nooo
i sell 1400 and i eat steak for weeks
now some idiot with some dum point of view
the people who attack gold cant AFFORD IT>
or live off the lie of fiat currencey!!
ill keep my gold you keep your paper crap.
thanks for not buying im buying more cheap.
and silver.
muuuahhh!
447 learn some facts before you start off.
ReplyDelete1. silver was never confiscated
2. historic gold coins were not confiscated,
and business throughout the 1930s was
transacted with them
3. the gold that was turned in was not
without compensation
As for interest rates, no one is forcing
people to pay 20 or 25%. and if they have good credit, they dont have to. If I loan someone
money for a house or car dam right I want to
make money on it.
Huge Physical Supply Shortages in Silver:
ReplyDeletehttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/22_Rick_Rule_-_Physical_Supply_Shortages_in_Silver.html
http://www.stevequayle.com/index1.html
APMEX has hardly any bars or rounds available!
dam right I want to
ReplyDeletemake money on it.
WHY IS THAT ?
If I loan someone
money for a house or car"
Are you a banker then ?
Is that how you make a living ?
"dam right I want to
make money on it.
Human relations ,cooperation and mutual help are human concepts, that appear to be meaningless to you.
Its only "human nature" to think of Usury like this !
So screwing your neighbor for profit is your religion ,your god ,your just economy.
And ,you demand your pound of flesh, by usurys money traditional right.
DAM RIGHT!
long live the money power of credit enslavement!
Gods work?
Money is a medium of exchange
ReplyDelete... ERROR ...
Currency is a medium of exchange.
Money is store of wealth.
Paper Currency (or digital) is not a store of wealth.
Gold and silver are money.
We have truly lost our way.
Currency is not simply only a medium of exchange.
ReplyDeleteAs money ,when circulated as capital , it is extended as a credit claiming that "the store of wealth" has a magical ability to self exspansion of value through interest ,a claim of present money /wealth to a title over human wealth created in the future.
That may even be invested for generations.
In this role, money does not simply circulate in an exchange of value and it is not 'spent in exchange", but loaned with the condition that it returns to its true owner.
what is sold in the loan is merely its temporary use value As 'hard working money".
At a contracted price .
Money + Money returns =Usury magic.
No not a banker, just a small business man
ReplyDeletemortgaged a couple houses to people who couldnt
get bank loans, but had a decent down payment and enthusiasm. The cars, same situations...
w/o a vehicle, impossible to get to work or
transport a family. I helped people out and
the money/leverage left my account...why
shouldnt I get a bonus at the end? I let them
skip December payments...give 20s for coffee
shop tips at Christmas. Ever get a job from a
poor man?
As your earlier comment stated Mr Small Scale loan shark.
ReplyDelete"As for interest rates, no one is forcing
people to pay 20 or 25%. and if they have good credit, they dont have to. If I loan someone
money for a house or car dam right I want to
make money on it."
For those who could not "get bank loans" there are aways those ready to charge a little extra "for the risk" .
but only 25%?
What a man !
And Christmas off for your personal debt Peons ,but only because you are a real humanitarian ,a non Scrooge with a personal touch.
But,you might do better investigating the usury rates now available in the Payday loan business?