Originally posted by LiquidLight
reply to post by jimmyx
This makes sense to me. People won't immediately turn into cavemen; we recognize the intrinsic value in things like silver and gold and the worth of
them in bartering. I may not be able to eat a silver coin, but if I can turn around and give it to you for a loaf of bread, and you turn around and
give it to someone else for a canister of coffee, then that's a system that makes sense. It may not be this way at first, but eventually things will
stabilize and goods will have monetary value again -- just not in dollars.
Agree here Liquid Light,
Notice here that we are talking about a system where the people have or will determine for what, when, and where they will swap for goods and
services. This is something determined by the people themselves. Particulary after the government moneys fail...government moneys or what is called
legal tender. People will themselves extablish what will be a lawful tender....or lawful moneys.
What is so seldom told to peoples is that a good money system is a system of weights and measures like the measuring spoons or measurinig cups in Mom5
ia's kitchen. We are measuring a real substance..some real stuff against what we are willing to give up our goods and services.
Note that an original Silver dollar ..before 1963/64 was actually a dollar weight of silver or a dollar of silver by weight as it is written in the
laws...so to with the Half dollar..it was a half dollar weight of silver and two half dollars in silver 90% fine weighed the same as a one dollar
weight of silver 90% fine in newly minted condition. So too with four quarters...ten dimes..and also twenthy half dimes in silver 90% fine.
One silver dollar came to 416/417grains at 90% fine to the dollar weight. Divide by half for the half dollar, by 4 times for the quarter, Ten times
for the dime and of course 20 times for the half dime.
What we have here is a system of weights and measures in silver...90% fine. A system in silver of just weights and measures. This measurement system
is called dollars and cents. It is a system of weights and measures.
Instead of troy ounces as precious metals are weighed..this new system of weights and measures is called in this country ...dollars and cents.
It is the same in gold 90% fine. There was at one time a 50 dollar gold piece...a twenty , a ten, a five and a one dollar gold piece all 90% fine.
Once again a system of weights and measures in gold. A standard/fixed if you like.
It is called honest or hard money ..and moneys which could not easily be created out of nothing if favor of the issurer.
Nonetheless when the moneys collapse to valuelessness...worthlessness....people will find a real substance for which to trade or swap thier goods and
services. That commodity which is the most common yet " swappable" ...and holds value ...a storehouse of value for a long time will become the
commonly accepted moneys. This will be determined by the people themselves ...not by government.
The historical tendency of government will be to force thier worthless moneys/legal tender on people for which these people will not be able to
replace the materials, goods or services for the same price or price plus a bit of profit. People will eventually stop doing what they do best
because they will take a loss with worthless legal tender if they dont.
It is very easy to inflate with paper moneys..or legal tender. This is not so easy with precious metals because they cannot be created easily out of
nothing...hence Monetary Stability in favor of the public/people...not the government.
Whatever becomes the most recogizable and swappable will become the new money..not legal tender. Dont let anyone kid you about this.