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Silver Wheaton Corp. Message Board

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  • moses_on_wall_street moses_on_wall_street Oct 16, 2010 12:27 PM Flag

    Is Silver Overbought? Is Your Bank Account Too Large?

    >And how? The same way FDR did it--making a $35 an ounce standard of $23 gold--making a $2000 an ounce standard for gold now, and a $40 an ounce standard for silver.<

    Why would we want to assign government the power to do this? It must become a market derived value or it will be meaningless.

    In Article 1 Section we find that CONgress has been given the power: "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

    The word "coin" is a verb and the value regulation power only pertains to the value of the coins being produced and then the value of foreign coin.

    If we allow government ANY role in the assignment of value to anything outside these to minor aspects of the monetary system they will corrupt it.

    FDR was a communist, plain and simple. Two of his staff had to fee the country when it was discovered they were communists. The New Deal and the attendant Supreme Court cases that came with it, say Wickard v. Filburn for example, have served to tear down the American republic.

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    • FDR's socialist policies got us out of the great depression brought on by Coolidge and Hoover. Maybe we need a little socialism to get us out of the Bush depression.

      • 4 Replies to tburke1932
      • Socialism is pleasant company speak for Communism and cannot be separated as each could not exist unless government can, without challenge, lay claim to some portion of the property or wealth of the people. It then only devolves into a question of measurement as to how much. That's why the Income Tax (in addition to a central bank) is one of the planks of the Communist Manifesto.

        A reading of the Declaration of Independence reveals that the only true purpose of government is the protection of Life, Liberty and Property. Communism, or its party dress form Socialism, does not accomplish these ends. In fact, history clearly shows that it works against them.

        By 1938, Roosevelt's New Deal was faltering badly and the economy was again in steep decline never having had been "healed" although the country was deeply in debt.

        Many Americans have fallen prey to another myth: that somehow widespread death and destruction promote economic growth, and that WWII got us out of the Great Depression. Sorry, but it's not true.

        When a nation diverts millions of its most productive workers, as well as large quantities of steel, rubber, gasoline, and other scarce resources, away from the production of cars, radios, and other consumer goods, and into the production of tanks, bombers and munitions that will be shipped overseas and destroyed...the people on the home front actually become poorer. Those resources could have been better used domestically had government gotten out of the way and allowed the economy to mend of its own accord and not hampered the process through collectivist macro-economic management strategies we know didn't work. We are seeing this being replayed right here once again, but few pay attention to history any longer.

        Still most Americans have been taught the myth of "wartime Prosperity". The myth, of course, rests on the faulty premise that massive government spending can "create jobs" and "stimulate aggregate demand". A cursory examination of Comrade Roosevelt's spending prior to the war would quickly disabuse most of that idea.

        In 1938, Roosevelt began to replace the cadre of Bolsheviks in his administration with businessmen, people who actually understood how businesses worked and what caused them to fail. Unfortunately, the legal system had already been poisoned by Supreme Court decisions based on fear and reprisal owing to threats of expanding the court with FDR cronies. I've already cited one such case, but there were more, eleven or so more which served to lay the groundwork for what we are faced with today. You might want to read a book called "The Dirty Dozen"....it's not the war story by the same name.

      • What a stupid comment. FDR extended the great depression with his socialist ideas. Now we are all paying the price of keynesian economics gone wild.
        Socialism works till you run out of somebody elses money. Get rid of your federal reserve notes while you can! It's all over.

      • FDR was a war criminal, same as Bush.
        He offered up 2400 of our soldiers for slaughter (@PH), as an excuse to get us into the war. He ran for President on a platform of No War, but he wanted in, so he set up the whole thing. Prescott Bush was implicated as a traitor, as he was selling supplies to both sides. I wouldn't be handing out letters of recommendation to any of them...

      • WWII got us out of the Great Depression, because of unabaited spending. FDR kept trying to balance the books with taxation when foisting new programs on the country, and everytime that happened, the country tanked.

 
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