Wikipedia confirms our previous statements about the Legal Tender Act, Its origins were during the Civil War. It also has a further topic called Legal Tender Cases. There has never been a statement of the validity of this Act. Article I, Section 10 has never been abrogated. Instead “Acts” have been passed, which are NOT Constitutional Amendments. It is certain that if a Constitutional Amendment was attempted to strike out Article I, Section 10 of the US Constitution it would fail, overwhelmingly; hus the end run, the Legal Tender Act. There was a back and forth battle over the validity of this Act in Hepburn vs Griswold, first declaring fiat to be unconstitutional, finally acceding to bankster pressure to invalidate Hepburn vs Griswold.
The country is 18 triillion$ in debt with a 20 trillion$ number in the works. It is obvious that politicians will continue spending with future increases ad infinitum. This is stealing which the elitist classes feel confident they are able to escape, while everyone else suffers from "inflation". “Inflation” did in fact rise during the Civil War, but recovered afterwards.
Fiat money in the US was born in war, the Revolution, Civil War, followed by WWI with many wars subsequently until the current Middle East conflicts. War will eventually completely destroy the value of the US$, benefiting only military contractors, politicians, the financial district, government workers and bankster pawns like “dhb39399”.
The strident and desperate comments of those on this message board continually in support of fiat money shows either extreme ignorance of the consequences or a penchant for monetary plunder, caring not a wit about the coming worldwide financial meltdown that will result.
Interestingly the author of this Topic failed to point to the real reason fiat money was created; WAR. That has been the case every time throughout history. Every time FIAT HAS ULTIMATELY FAILED as an exchange medium.
Know that your response was expected, as we stated: “Stay tuned for "dhb's" non-answer.”
You can’t answer because our return would be with the quotes concerning comments by an eyewitness to events at Jekyll Island in 1910. You can’t have your credibility challenged so your non-answers are the result.
We are more than certain that reasonable people will evaluate “dhb39399” for the fraudulent piece of work he/she/they represent.
Told you. Nothing that details the incorrectness of the post. Just a law of parsimony-breaking conspiracy theory.
"...how do you know that’s NOT what took place?"
This indicates an inability to think logically. Clearly, the burden of proof lies with the claimant have to show the proof of their claims. A request for proof is not an apportioned claim. Such a lack of understanding befits a looney tune.
This is not a question of providing ways to manipulate economies for the benefit of the few. It is a question of providing a meritocracy based on honest money, which is the last thing elitists and their pawns (dhb) want.
In fact John D. Rockefeller said, "Competition is a sin." - That was one of the bases for the founding of the Federal Reserve System and the UN-constitutional passing of the Federal Reserve Act. Fiat money is the enabler of such a system of inequity when placed in the hands of private central banks.
Again the reminder to those doing their best TO IGNORE the issue, of how the Federal Reserve Act was passed just before the Christmas Holiday in 1913 when only those in attendance were the supporters of that Act, and knew their competition would not be in Washington, DC to vote. Those who read this Topic please note how the supporter of fiat money will fail to notice this crucial fact. We know of no other way to characterize this than as a political coup. It was the same M. O. of secrecy from the Peoples “representatives” as what took place at Jekyll Island in 1910 at the planning stage of what later took place in 1913.
So “dhb39399” asked how we know what happened at Jekyll Island? We throw that question right back to “dhb” and ask, how do you know that’s NOT what took place? We in fact can answer the question to us but await “dhb’s” answer, which will have to be untrue since we have the facts after which we will provide historical quotes from one of those who was in attendance.
Stay tuned for "dhb's" non-answer.
Note that “dhb” lacks” parsimony (is wordy-in this context) and thereby should be deemed impaired himself rather than suggest anyone else is.
Instead of detailing the incorrectness of your post, looney tunes will frame you into a spokesperson for the enormous group of people conspiring to manipulate the financial system under the guise of a socially conscience control of the economy.
I wonder if opposing the law of parsimony should be a criteria for an assessment of intellectual impairment.
The advantage of a fiat currency is to match the expansion of the money supply with the expansion of economic output rather than having the money supply expand arbitrarily, like the price of gold. This helps prevent unwanted inflation from rapid, unexpected changes in the money supply. The reverse also applies in that fiat currency's elasticity can solve problems with deflation as well. As population, the workforce, and overall economic output grow, if the money supply under a gold standard remained static, the demand for new money would outstrip existing stocks. Hence the cost of money, and things like payrolls, would become increasing difficult to maintain over time.
You lie. You know the advantages of using fiat money is taught at every university throughout the world and is used by many central banks thought the world. For this to happen without anybody or any agency being convicted of using it has to be the biggest conspiracy theory of all time. Or perhaps you're really stupid and actually believe what you post.
Tried to warn my POOR sweet amateur silver/gold LOSERS and BORN FAILURES, again:
Smarter market pros use every silver/gold DEADCAT BURP to increase in the money PUT positions for another massive $$$ SCORE!!! More than OBVIOUS to smarter market pros!!!
WARNING: this SLW PIG FARM remains the most OBSCENE MEGA BUBBLE in the stock market and it MUST PANIC SELL CRASH to prices BELOW 2.00 by the time 2015 ends!!! MEGA BEARISH!!!!
Search for and read:
FDR's policies prolonged Depression by 7 years, UCLA economists calculate
The lead suggested (but unfortunately unstated) is that central bankers here, and hopefully in other nations, will seek to jail, or worse, those in the banking and financial industry that support systems of fiat money.. Only CROOKS, Joe Bonanno Mainst9, think fiat money is honest.
Do you think they understand that having a central bank like the FED is a centerpiece requirement of the Communist Manifesto? Or are they promoting it?
Maybe its the end of that particular post that is really bothered the goldboob:
“Now here's the crux of my post. The GFC could have been managed by the teachings of Ayn Rand, who current NeoLibertarian followers still praise. In this case, the solution to all economic structures is laissez faire capitalism, where total reliance in dealing with the GFC would have been placed in the banks that got us there in the first place. These are same idiots that advocate for the removal of the Federal Reserve.”
"Mainst9 responded that Iceland also has a “central bank”; which was an attempt to suggest that it was also private thereby suggesting that we were naive."
Not correct, and misleading, as usual.
The relevant post was to highlight the inherent confusion of NeoLibertarians. goldboob praised Iceland for jailing their pre-GFC bankers: "perhaps by following Iceland's lead..".
I agreed, and presented Iceland’s plan to “restructure the nation’s monetary system by stripping commercial banks of the legal ability to create currency, and handing that power exclusively to politicians and central bankers under what is being labelled a “sovereign money” system.” This is totally against what the goldboob is advocating, and highlights the hypocritical, disjointed and illogical argumentation often used by gold standard advocates.
goldboob misrepresents my post (note direct quote) “the assets of Iceland's privately owned banks were around 10 times the national GDP, rendering the Central Bank of Iceland weak as a lender of last resort.” Only a deceiving weasel would attempt to twist the sentence toward his interpretation. The sentence actually suggests that Iceland’s central bank, as a separate entity, was impotent by being comparatively too small to cause an affect.
Iceland’s government avoided existing structures of economic activity and austerity measures by actively intervening in financial, currency, and housing markets, something NeoLibertaians are dead against. So when goldboob says we should following Iceland's lead, he is actually contradicting himself.
Note that “dhs39399” & “Mainst9” post on both the Yamana message board and Silver Wheaton message board, sometimes minutes apart. We wouldn’t characterize them as “disinformation agents”. Rather he/she/they are either pawns of the banking cartel or have been brain-washed in academia.
See our latest post at the Yamana message board on the Topic: “Reply to U.S. Economy Added 271,000 Jobs in October; Unemployment Rate at 5.0%”
Incidentally, within an earlier post we noted the people of Iceland had wisely ridded their country of their brand of financial crooks. Mainst9 responded that Iceland also has a “central bank”; which was an attempt to suggest that it was also private thereby suggesting that we were naive. Not so. Iceland’s bank is an arm of the Icelandic government. However their money is fiat as well. Even they cannot apparently perceive that the root of financial difficulties in governments is counterfeit (fiat) money. It seems banksters and politicians everywhere can’t resist the temptation to cheat when it comes to debauching their exchange mediums, as it removes spending discipline and encourages corruption.
Keith Weiner had an interesting solution to the Greek debt crisis with an article titled: “Keith Weiner: Open Letter to Alexis Tsipras SNB & CHF” in which he suggested that Greece should remove itself from the European Union and the Euro, reissuing the Drachma backed by Gold. Ultimately that would bring prosperity the envy of all other nations.
Greece has some history to fall back on when it issued the Bezant as part of the Eastern Roman Empire. The Bezant was a gold coin universally accepted by all nations that had trade relations with Greece at the time. They also had a vibrant economy with inhabitants who had a high standard of living.
SLW has a solid business, just think if silver goes up $5, what will that mean just for the Glencore deal? Silver look really good here IMO. Not here telling anyone to buy, make you own decisions, just stating MY OPINION.
Sentiment: Strong Buy
happened, Barclay's will be right on this one in my opinion.
Sentiment: Strong Buy
Remember, the IMF for consideration of a secondary currency has only been delayed, why do you think China is selling our debt and loading up on gold? Silver will ride the wave of gold in the near future, may take 6 months but at this price SLW is a really good buy IMO.
Sentiment: Strong Buy