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revalued?
Quote:
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Originally Posted by Shoonra
Norfed "currency" is funny money. They revalued their coinage this past year, but at the time (about 3 years ago) they were selling a supposed coin claiming it was "fully backed" by its own silver content -- except that, if it were pure silver, it would have a metallic value of a little more than $6 (in FRNs) but they were selling them for $10. In the past year, the rising price of silver has made those "$10" coins worth about $8, so to prevent its customers from getting anything approachingt their money's worth, Norfed inflated its face value to $20. Whether you can actually spend their "currency" is another matter completely: I am sure that no sensible bank or merchant would accept it as the equivalent of its face value in FRNs.
The fact that Media Bypass magazine, which had been running display ads for Norfed every month, and puff pieces every other issue (its editor at that time was somehow tied in with Norfed), suddenly announced that it wouldn't accept the Norfed funny money to buy subscriptions, should have been a tipoff.
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why is silver being revalued? it's supposed to be a constant! based on law
crapeth.
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