private currency exchange

Originally Posted by David Merrill

Now the suitor would take up the US notes, separate out $42.23 and redeem one ounce of gold. This would open up the position, that since there is no gold in the vault some $900 FRNs could be demanded allowing purchase of the ounce of gold down the street at the coin shop at proper US dollar value.......

David Merrill.

I guess the question is: would it actually be possible to do the exchange of $42.23 to $900 (or current value) and if so then who is willing to try it??

Seems like you were saying if ya try it, then be prepaid for the sniper, right?

...So anyone want to volunteer!?

[Jerry Pitts]

Originally Posted by MDR

I guess the question is: would it actually be possible to do the exchange of $42.23 to $900 (or current value) and if so then who is willing to try it??

Seems like you were saying if ya try it, then be prepaid for the sniper, right?

...So anyone want to volunteer!?

It is done almost every day (in the reverse). PAWN SHOPS. You take a gold ring in their establishment, the value of the ring being 500 - 600 dollars, and the Pawn shop owner/manager/clerk will only offer you the bare minimum that he/she can get away with in making an offer. I know several people that manage pawn shops and they all say that normally they will only offer 10 -20 % of the value. I guess they really know the TRUE VALUE of the gold and hence they are not really defrauding anyone in their assessment.

Jerry Carlos

[fulltitle]

Without Prejudice.
Dollars. Tellers. Tellers tally and they could use tally marks to tally up. But perhaps some prefer to using [Arabic] numbers and like to base their daily tallyings on units they call 'dollars' rather than call them 'tallies'. So in a sense a teller, being a tallier, tells a tale about how much the teller/tallier tallied and expresses such in accountings units called tallies..i mean talliers ..er umm that is dollars.

Re: Pawn shops or coin shops taking gold and giving FRNs.

I brought forth a discussion about this quite a long while a go. Ever have them buy a gold or silver from you without asking for ID?

[David Merrill]

Originally Posted by fulltitle

Without Prejudice.
Dollars. Tellers. Tellers tally and they could use tally marks to tally up. But perhaps some prefer to using [Arabic] numbers and like to base their daily tallyings on units they call 'dollars' rather than call them 'tallies'. So in a sense a teller, being a tallier, tells a tale about how much the teller/tallier tallied and expresses such in accountings units called tallies..i mean talliers ..er umm that is dollars.

Re: Pawn shops or coin shops taking gold and giving FRNs.

I brought forth a discussion about this quite a long while a go. Ever have them buy a gold or silver from you without asking for ID?

Indeed I went to the premiere gold/coin dealer and offered my Certificate of Fact when offering to sell silver. They would not trade with me. Government-issued ID only...



Regards,

David Merrill.

[Soldier of Truth]

Originally Posted by David Merrill

Here is an example of a private currency exchange. I see a discrepancy - a known future disparity in price of something, so I buy a bunch today low, and sell them at lower than the future high - making a profit while saving people a few bucks. (attached) So I buy a gob of $35 buss passes as currency last year and sell them to people at a discount when they are about to buy them for $54 this year.


Regards,

David Merrill.

Oh WOW! I never seen it like that! < Tipping my hat >