Peter Schiff Explains Quantitative Easing And Why You Are Screwed

Originally posted by JR MacBeth
No, they didn't, look it up. The Continental was defaulted on, thanks mostly to British counterfeiting, colonial scrip never had a problem, and the greenback is perhaps the ONLY lawful currency in the land, even today.

I will say it again. The banksters control the world's gold. Beware of schemes that involve gold too much. Gold is wonderful for the individual who is taking charge of their finances, who is taking responsibility, but it may not be so great when our masters "suggest" that it is a cure-all it is for their decades of shenanigans.

Thankfully, I see someone else posting who understands that SILVER is the thing to focus on, we little people really DO have an out. But with all the gold talk, few will ever hear that message.

JR

The original scrip was baned by England. As America continued into the revolutionary war, the Continentals the American government issued to pay for the war imploded in hyper-inflation. Eventually they became totally worthless.

The Confederate currency, which was an unbacked fiat issue by the Confederate government, fully imploded in due to hyper-inflation. These also became totally worthless as money.

The Lincoln's greenbacks were heavily inflated to pay for Civil War costs. Eventually their issue was capped and specie payment was resumed at a devalued price, but not before the government effectively stole billions in booty from the public.

There is only ONE currency that prevents hyper-inflation.

Gold.

There can be only ONE metal standard, the gold standard, due to Gresham's law.

I agree that silver is set to skyrocket. I believe both gold and silver are being heavily manipulated at the present moment by unbacked EFTs and central banks.

We can not have a functioning economy without free market banking and free market currencies.

The inflationary manipulations and theft by the government and central banks must be brought to an end.

mneneth, in past ideas of mine, I contemplated a currency based upon a conglomerate of commodities, instead of just one.

Your thoughts on that idea?

As for others stating the silver backed currency, silver has industrial usage, which could cause fluctuations in currency valuation. Is that why you are a leaner towards gold? Where there would not be any fluctuation due to industrial uses.

BUT, I know for a fact that gold does have industrial uses. There are computer uses for gold just as there is for silver, so I guess my comment here is moot. Just wanted your thoughts on the conglomerate idea.

Originally posted by saltheart foamfollower
mneneth, in past ideas of mine, I contemplated a currency based upon a conglomerate of commodities, instead of just one.

Your thoughts on that idea?

As for others stating the silver backed currency, silver has industrial usage, which could cause fluctuations in currency valuation. Is that why you are a leaner towards gold? Where there would not be any fluctuation due to industrial uses.

BUT, I know for a fact that gold does have industrial uses. There are computer uses for gold just as there is for silver, so I guess my comment here is moot. Just wanted your thoughts on the conglomerate idea.

Gresham's law says bad money drives out the good.

When you have a fixed exchange rate between commodities, which is required for the money to work correctly, such as a fixed exchange rate between gold and silver in a mixed metal standard, the gold will be horded.

While I think anyone should be free to create any currency system they like, the market has spoken time and time again as to what the proper backing of money should be.

When the markets are left to their own devices, they chose gold as money.

I'm not opposed to any system of currency per-say, even our current fraud of a currency - what I am opposed to are the laws the force it down the publics throat at gun point. Simply doing away with these legal tender laws are all that is necessary.

reply to post by mnemeth1


Gotcha.

Free market when it comes to currency also.

Hmmm, how would the government control everyone then?

That is rhetorical of course.