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[–][deleted]  (9 children)

[deleted]

    [–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (8 children)

    Interesting, thanks. That's far more plausible and makes plenty of sense.

    Were not most quarters and half-dollars silver up until around the 1960's? I'd assume the amount of silver of melt was nowhere close to the vaule they were manipulated to carry.

    Supplement it by silver certificates, issued upon deposit of silver.

    So these certificates would be paper, which would equal a portion of the amount of silver you own.

    Using the good old method of free coinage, silver could enter into circulation free of debt, free of interest, outside the control of bankers. In this way the unit of account and currency would one and the same.

    Seems reasonable to me, but the bankers, nor wall-street would ever let that happen. They'd try to destroy teh economy if something like that was imposed.

    In 1914, (january 4) Henry Ford introduced the $5-a-day minimum wage in his factories. At the time a model-T automobile sold for $250.00. A man could have collected his 5 coins every day, and eventually carry 250 coins to a dealer and drive home in model-T; or saved his coins in bank, then ask for 2 $100 and 1 $50 silver certificates, then go to the dealer.

    That seems far easier than the current system we have today!

    Let gold find its own level, buy what it buys; but never be a unit or a standard.

    Other than Silver, would there be any other metals that could be or have been used as a unit or standard?

    SO, implementing silver certificates would make government bonds obsolete? Would this not reduce taxes, and also manipulation, boom and bust cycles, etc.

    [–][deleted]  (7 children)

    [deleted]

      [–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (6 children)

      If we make barley the unit of account, we always have to use currency

      You could use barley but it's perishable. So, the point is to use tangible metals that are not perishable, that would then make the object both currency and a unit of account. Correct?

      The way silver certificates worked: a person who had a hundred dollars' worth of pure silver (or multiples) had to deposit that silver in the Treasury and received certificates for it; the silver was sitting in the Treasury.

      What's to say the treasury doesn't lie about the amount of silver reserves they have? If the silver certificates did exist, there would be a battle for eternity between the real hard-money men and the looting foreign bankers and their lackeys.

      So, in the case of banks, would not silver certificate deposits and withdrawls simply be storage houses for the silver you own? No credit would be attached to these houses. So, essentially they would not be banks.

      So, if government bonds were eliminated, government would not have to pay back interest to the FED? Would then debt accrued exist, at least for governemnt? And how would one obtain a loan in this case? Would they even need one?

      Just trying to learn, much of this is new to me, and I'm quite interested.