McElroy v. Chase Manhattan Mortgage Corp.

[idknow]

Originally Posted by Shoonra

Since silver is no longer the measure of the US dollar, its value floats (or sinks) according to demand for the metal in the international marketplace. Primarily silver is no longer used for money but for electronics, medical equipment, jewelry, dinnerware, and ornamentation. Therefore its price on the international markets fluctuates (mostly upward, but not always).

IF the US dollar was tied to silver, as it once was, then we'd be much worse off. America mines virtually no silver right now; most of it comes from foreign countries, some of them not at all sympathetic to the US.

--
both the federal constutition and the very early federal laws make it clear that coinage in america was to be of global origin!

so i'm not concerned that we dont mine silver.

[test]

Originally Posted by Shoonra

Since silver is no longer the measure of the US dollar, its value floats (or sinks) according to demand for the metal in the international marketplace. Primarily silver is no longer used for money but for electronics, medical equipment, jewelry, dinnerware, and ornamentation. Therefore its price on the international markets fluctuates (mostly upward, but not always).

IF the US dollar was tied to silver, as it once was, then we'd be much worse off. America mines virtually no silver right now; most of it comes from foreign countries, some of them not at all sympathetic to the US.

The informer has an article about gold and its price manipulation, I think it could be applied to silver as well.

- snip

So when people say gold went up today, all they are saying is that the federal reserve note became more worthless than it was yesterday because you now need more paper to buy what you bought yesterday. That is how they put more debt, their notes, in service. Now you have to work a longer time to obtain more paper to buy that same ounce that just sat there gaining or losing not one grain.

- end snip

http://www.atgpress.com/inform/ba008.htm

[Shoonra]

FRNs are hardly worthless. Even the mountebanks who are preaching that FRNs are worthless want to be paid in FRNs and not in their own funny money. All over the planet, FRNs are treated with enormous respect and often more respect that the national currency.

When US money was based on gold - which was actually a rather brief period - it fluctuated with every development in mining, often moving downward whenever a new gold mine was opened. Pretty much the same with silver. And right now America produces very little of the world's gold or silver - and uses up a lot of it in technical and medical applications - so that, if it based its currency on either gold or silver or both it would be whipsawed by those countries with more active mining, such as South Africa and Russia.

The FRN represents ALL the assets of the US govt, which are enormous, and include federally controlled oil reserves, federally owned forests and land, and so forth. I don't think any other country has such an abundance or variety of resources on which to base its currency.

[Ice]

They do not sell the coins for the stamped value-- they are stamped at a value but are not sold for that amount. As a matter of fact, when you purchase in quantity, and through other programs they have available, you don't pay over market value. Also, coins and receipts can be exchanged for FRN's at anytime. There isn't anything funny about that at all -- it is real silver.

And there are many "merchants" that accept Norfed coins and receipts. There are quite a few here in Indiana. Just look for the notice posted in the window or the door of the shops and you may find them.

Also note that silver will continue to rise in value -- keep your eyes on the market. The difference in the price between gold and silver is way out of line. And as we use silver in so many ways, it becomes more precious as we use it up. I've commented on this elsewhere in the forum.

Ice