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1776 > 1984
The FAILURE of the United States Government to operate and maintain an Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.
The Elimination of Privacy is the Architecture of Genocide
Belief, Money, and Violence are the three ways all people are controlled
No monetary system has led to economic nirvana.
A stable monetary system has deflation.
You can't have a system that always prevents price inflation, especially when certain evil people are bound and determined to cause it. But if a commodity that has intrinsic value is used as money, its value fluctuates both up and down, as the dollar used to do. Now it doesn't fluctuate, it simply gets more and more worthless--and the middle class gets smaller and smaller. Just as your little chart shows.
You love that chart because it proves fluctuations have always happened. But it's still funny, because the whole selling point of the Fed funny money scheme was it would end that fluctuation. It's useful to you, though, because it disguises the fact that the value of the FRN has since finally being decoupled from gold, always gone down, and has never gone up, by showing a nice, straight line as a baseline. In fact, charts that show the value of the dollar, rather than the changes in the value of the dollar, show a slightly bumpy mesa back when it was gold, then a steep hill which is downhill all the way.
And what does it all mean to real people? The death of the middle class.Historical Value of the U.S. Dollar
What one dollar was worth in constant 1991 dollars.
1820-1850 $13.28
1850-1875 $13.14
1875-1900 $14.85
1900-1925 $11.38
1935 $9.91
1945 $7.56
1965 $4.31
1975 $2.35
1985 $1.26
1991 $1.00
Who claimed that having a central bank would end economic fluctuations? No system does. Or can.But it's still funny, because the whole selling point of the Fed funny money scheme was it would end that fluctuation.
Noting that the dollar was not finally decoupled from gold until 1972 and that the value of the dollar was falling even while under the gold standard as your own numbers show. Did the gold standard prevent it?It's useful to you, though, because it disguises the fact that the value of the FRN has since finally being decoupled from gold, always gone down, and has never gone up, by showing a nice, straight line as a baseline. In fact, charts that show the value of the dollar, rather than the changes in the value of the dollar, show a slightly bumpy mesa back when it was gold, then a steep hill which is downhill all the way.
Last edited by Zippyjuan; 06-23-2016 at 01:27 PM.
Was it really a gold standard from 33 until 71/72? Americans couldn't legally own gold, couldn't directly exchange dollars for gold. Seems to me that at that point, the gold standard was in name only but not in practice. Calling it something doesn't make it that.
From Gold Reserve Act Wiki
Was it ever really a gold standard after 33? Naaaa, just theft of American's gold using an engineered collapse, a huge lie and a dupe President. I sense history is looking familiar these days as another fake gold standard is being instituted.Since the Central Banking Act of 1935, the Federal Open Market Committee (FOMC) has authorized the Fed Bank of New York to purchase and/or sell U.S. government securities in the open market in order to determine the stock of money in the U.S. The Fed Board also gained its power over member bank reserve requirements as a result. Since the FOMC was determining the quantity of money in circulation, the quantity of gold in the system did not affect the stock of money in the U.S. economy.
Last edited by devil21; 06-23-2016 at 05:38 PM.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
I see. Things were great when we were on a gold standard but on the other hand we were never on a gold standard. So when would you say things were the best- economically speaking?
Last edited by Zippyjuan; 06-23-2016 at 06:45 PM.
First, I never said things were "great" on a gold standard. Perhaps you should direct that whichever poster stated that. Second, there were gold standards prior to the fake gold standard after 33, as you well know. I don't know when the best time was, seeing how 99% of "conventional history" is bull$#@!. All I know is that an oz of gold buys the same goods today as it did a thousand years ago. A dollar doesn't buy as much today as it did 10 years ago.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
What could you buy with an ounce of gold a thousand years ago?
I was hoping to find a time better than today to compare the money system but as we have seen every type of monetary system has had good times and bad times.
Last edited by Zippyjuan; 06-23-2016 at 11:52 PM.
The contemporary equivalent of the same amount of goods and services. This only further proves that gold really is the ultimate currency. The rest is bull$#@!, that is, unless getting the dumb ones to accept the fake stuff in order to build your pyramid is your goal. I'd rather people build my pyramid because they want to, not because they have to or were tricked into it.
Last edited by devil21; 06-24-2016 at 01:21 AM.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Of course you are free to exchange your paper (and electronic) money for gold if you prefer to hold that.
^^^ and of course, our resident troll continues to push that paper has more value than gold.
Tell me Zippy, do you believe that Gold is Money?
1776 > 1984
The FAILURE of the United States Government to operate and maintain an Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.
The Elimination of Privacy is the Architecture of Genocide
Belief, Money, and Violence are the three ways all people are controlled
Money is a medium of exchange. We don't use gold as a medium of exchange today so no, in our present society, gold is not money. Do you take gold to the store to buy food? Or to put gas in your car? It can be used for money and has been in the past but it isn't today. A commodity? Yes. An asset? Perhaps. Money? No.
Good job channeling Helicopter Ben there. Minted face value gold and silver can be used as money since it is legal tender and lawful money. Dumb move strategically right now but it is still money. I suspect it also has a particular use as face value money when dealing directly with bankers but won't go down that rabbit hole in this thread.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
"Can" be used as money. Do you use gold coins at face value to purchase things? Is that why people acquire them? If you don't use gold and silver to purchase things, then they are not money.
Last edited by Zippyjuan; 06-26-2016 at 02:20 PM.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Yes, technically they are "legal tender" at their face value. But does anybody use them at face value to purchase anything? What was the last thing you bought with gold or silver coins at their face value? They are exchanged for their commodity value (for dollars), not their face value.
How does the US Mint describe the coins? http://www.usmint.gov/mint_programs/..._eagle_bullion
Congressionally authorized American Eagle Bullion Coins provide investors with a convenient and cost-effective way to add a small amount of physical platinum, gold, or silver to their investment portfolios. Since their launch in 1986, gold, platinum and silver American Eagles have become leading bullion coin investment products.A bullion coin is a coin that is valued by its weight in a specific precious metal. Unlike commemorative or numismatic coins valued by limited mintage, rarity, condition and age, bullion coins are purchased by investors seeking a simple and tangible means to own and invest in the gold, silver, and platinum markets. American Eagle Gold Bullion Coins are available in four denominations: one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce while the American Eagle Silver and Platinum Bullions Coins are only available in the one ounce size.Aside from the proof version, the United States Mint does not sell American Eagle Bullion coins directly to the public. Instead, the Mint distributes uncirculated Bullion coins through a network of wholesalers, brokerage companies, precious metal firms, coin dealers, and participating banks, a network known as Authorized Purchasers.
Last edited by Zippyjuan; 06-27-2016 at 12:54 AM.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Reserve currency of the world?
I don't think very slow inflation is that big of a deal, if it could be controlled. But it can't be with a fiat currency. The problem is that printing money is the path of least resistance and inflation always ends up way too high. You can plan around 1% inflation but not 10% or 20% or 100%.
What is money? What would mean that gold is money? Are stocks and bonds money? They can be a store of value. Is oil money? It is a commodity like gold and silver. Are beads money? Like gold, it has been used as money in the past.
https://economicsandliberty.wordpres...what-is-money/
Gold has some properties which may be desirable for money but unless it is used as a medium of exchange, it is NOT money.What is Money?
Money is primarily a medium of exchange or means of exchange. It is a way for a person to trade what he has for what he wants. Ideal money has three critical characteristics: it acts as a medium of exchange; it is an economic good; and it is a means of economic calculation.
Article notes:
Once, that was gold and silver. But not today.The market always decides what is the best form of money.
The Br-exit saved dollar for a wile, (at the cost of sterling) Now the Federal Reserve has to pick up the rate weapon again, at least orally - by crying "we may raise the interest again, may be twice this year".
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Answered in post #47. Gold coins with a value stamped on them are technically lawful money- sure. But if nobody is using them at this face value, then in reality, they are not money. Are you using gold coins at their face value to buy anything? Is anybody? I'll give you $50 for one. Paper. Same valuation. Fair trade- right?
As I said many times in the thread,
unless it is used as a medium of exchange, it is NOT money.
Last edited by Zippyjuan; 08-28-2016 at 01:28 PM.
The Fed serves an important, necessary purpose, in that it supports a healthy economy for bankers and supports the profitability of the banking sector.
Without the Fed, the banking system and their profits would collapse. Would be terrible.
Last edited by TheTexan; 08-28-2016 at 02:08 PM.
- Kim KardashianIt's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
Donald Trump / Crenshaw 2024!!!!
My pronouns are he/him/his
Last edited by devil21; 08-28-2016 at 02:10 PM.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
First question now answered twice. Not going to repeat it a third time.
Second- is there a difference between legal tender and lawful money? If so, what is that difference?
https://www.federalreserve.gov/faqs/currency_15197.htm
In 1933, Congress changed the law so that all U.S. coins and currency (including Federal Reserve notes), regardless of when issued, constitutes "legal tender" for all purposes. Federal and state courts since then have repeatedly held that Federal Reserve notes are also "lawful money." Milam v. U.S., 524 F.2d 629 (9th Cir. 1974), is typical of the federal and state court cases holding that Federal Reserve notes are "lawful money." In Milam, the United States Court of Appeals for the Ninth Circuit reviewed a judgment denying relief to an individual who sought to redeem a $50 Federal Reserve Bank Note in "lawful money." The United States tendered Milam $50 in Federal Reserve notes, but Milam refused the notes, asserting that "lawful money" must be gold or silver. The Ninth Circuit, noting that this matter had been put to rest by the U.S. Supreme Court nearly a century before in the Legal Tender Cases (Juilliard v. Greenman), 110 U.S. 421 (1884), rejected this assertion as frivolous and affirmed the judgment.
Last edited by Zippyjuan; 08-28-2016 at 02:17 PM.
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