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Old 09-01-2019, 03:54 PM
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Originally Posted by PalmettoTree View Post

Money is for the exchange of, goods and services, and for the accumulation of assets. I buy real estate, stocks, and silver in the expectation that they will be of greater future value than the money I use to buy them.
I think I am breaking through. So just to be clear you use Money or Currency. The USD is not money its currency ever hear of currency traders.

So if you are using money what type of money Gold coin?

Funny you try and destroy the argument then unintentionally admit you are wrong by saying money in place of currency.
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Old 09-01-2019, 06:27 PM
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Did a video today explaining how fragile fiat currency is and the role PM have played for thousands of years.
Posteded it in its own threat but some folks here can use to check it out.
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Old 09-01-2019, 06:48 PM
PalmettoTree PalmettoTree is offline
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Originally Posted by stinger5900 View Post
I think I am breaking through. So just to be clear you use Money or Currency. The USD is not money its currency ever hear of currency traders.

So if you are using money what type of money Gold coin?

Funny you try and destroy the argument then unintentionally admit you are wrong by saying money in place of currency.
Today you can buy a 5 dollar Liberty Half Eagle Gold coin for $699. You can use it as money worth $5 if you like. Or you can hold on to it for its value in gold.

In 1792 the founding fathers issued money by fiat:
24.1 grams of pure silver equaled $1
That means 241grams of silver equaled 16.04 grams of gold.
That also means 17,100 grams of copper equaled 16.04 grams of gold.

All of these were money in the day. Can you see why gold is not money yet. Those relative values were set by fiat. That is how the Romans did it. That is how the English did it. That is how the Spaniards did it. They all set relative values by fiat.

The values of each commodity varied over time independently. If that 1792 coin act continued today we would have no money. The gold would have been used as gold. The silver traded in for gold then that gold used for gold. The copper Cents would have been turned in for silver and that into gold and the gold used for gold.

Today we would be a barter nation worse off than any nation on earth regardless of capitalism or republic form of government.

GOLD is not money. It never has been and never will be. Gold has been tried as money and always failed because it is too valuable to be used as money for the common man's exchange for the goods and services he needs and can afford.

If you cannot understand that then you are one of the few that is just beyond help.
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Old 09-02-2019, 04:27 PM
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Originally Posted by FerFAL View Post
Did a video today explaining how fragile fiat currency is and the role PM have played for thousands of years.

Posteded it in its own threat but some folks here can use to check it out.

Thanks for sharing.

Sent from my Note 8 using Tapatalk
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Old 09-02-2019, 07:54 PM
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Quote:
Originally Posted by FerFAL View Post
Did a video today explaining how fragile fiat currency is and the role PM have played for thousands of years.
Posteded it in its own threat but some folks here can use to check it out.
Why have it? Gold and Silver for Survival & Preparedness - YouTube
I agree. PMs have value. I have never disputed this. I agree that pre-1965 90% silver coins are still worth their face value as legal tender and money. One would be foolish to use them as that.

Even a wheat penny is worth more than 1. A cashier recently ask me if it was worth anything. I told her I would give her 11 for it. She smiled and give it to me for face value in my change.

But even in Venezuela today a silver coin is not money it is a known quantity of silver which can be bartered with. There are no sign up saying gasoline a silver dime per gal.

The guy says for a silver dime you can eat for a week. How does he know? I have tried to find out what is the going cost per ... for ... of silver or gold. If anyone knows and can post a reliable source please do.

I hope to buy 4 silver dollars to complete another one of my coin books tomorrow. And likely for what I will pay my wife and I could eat for a week or more.
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