The national gold reserve at Fr. Knox has not been audited since 1957.
Perhaps we should take a look?
Perhaps we should take a look?
Kennedy half dollar help needed
- Thread starter hittman
- Start date
Yaworski
Hawkeye
So called? LOL.
The system works . . . perhaps not as we'd necessarily like, but it works. If you like your silver/gold, go for it. ;)
DGW1949
Hawkeye
In all due respect, that may illustrate your position on the matter, but it doesn't answer the question. As for your last sentence, it's not whether or not I "like my silver/gold" , it's more that words mean things. And "Money" don't mean debt. On the other hand "Note" is a legal term that implies debt...as-in "Federal Reserve Note", which is a paper instrument born of debt. The biggest aspect of our so-called "national debt" that people refuse to acknowledge is that even IF it could be paid off (which it can't) the result would be that we would be left with nothing because under our present system, there is no real money, only our borrowed debt-notes. So what that means is that if we paid them all back, we'd have to immediately borrow more just to keep the "system" from crashing down around us.....In other words, this "system" you speak of is nothing more than a magic trick wherein IOU's are conjured up from nothing by a Government/Banking cartel know as the "Federal Reserve" and handed to us to use as currency. So it follows that if we ever handed them all back, we'd be left in the same (broke) position we started from....and once again, words mean things. "Currency" ain't "money" any more than the paper checks that I write are money. They are both just a promise to pay, kinda like any other IOU...only...there ain't no real money to pay either of them with, only more IOU's.
So I ask again, what are are 41 FRN's worth?...My answer is nothing....What's yours?
DGW
Yaworski
Hawkeye
Note also means a piece of paper with writing on it. Or it can refer to a sound of specific frequency or a mark on paper representing that frequency.
You 41 Federal Reserve Notes are worth 41 dollars. If they are worth nothing, feel free to mail them to me.
In 1865, your $20 gold piece was only worth $20 because the government said that it was worth $20. Hmmmm . .. sounds like "fiat money." LOL.
DGW1949
Hawkeye
In all due respect, that may illustrate your position on the matter, but it doesn't answer the question. As for your last sentence, it's not whether or not I "like my silver/gold" , it's more that words mean things. And "Money" don't mean debt. On the other hand "Note" is a legal term that implies debt...as-in "Federal Reserve Note", which is a paper instrument born of debt. The biggest aspect of our so-called "national debt" that people refuse to acknowledge is that even IF it could be paid off (which it can't) the result would be that we would be left with nothing because under our present system, there is no real money, only our borrowed debt-notes. So what that means is that if we paid them all back, we'd have to immediately borrow more just to keep the "system" from crashing down around us.....In other words, this "system" you speak of is nothing more than a magic trick wherein IOU's are conjured up from nothing by a Government/Banking cartel know as the "Federal Reserve" and handed to us to use as currency. So it follows that if we ever handed them all back, we'd be left in the same (broke) position we started from....and once again, words mean things. "Currency" ain't "money" any more than the paper checks that I write are money. They are both just a promise to pay, kinda like any other IOU...only...there ain't no real money to pay either of them with, only more IOU's.
So I ask again, what
You'd find more gold in the basement of the Federal Reserve building in NYC....Or leastways that where it was last seen, being loaded onto trucks shortly after the chaos of 9/11 began....Who knows where it's stashed at now, but wherever that is, you can bet that it is still in the hands of our infamous "Central Bank", way out the reach of We the People..LOL.
DGW
Yaworski
Hawkeye
Star43
Hunter
I personally don't think there is any gold at Ft. Knox, and why, it is because the general consensus, or what the/our government may have implied it to be so, definitely means it's not there..... also in my opinion 90% silver Constitutional money is very, very valuable not only from the silver melt content, but also it is a recognized and valuable modem. I love 90% as an investment tool, ultimately safe and real....as far as 40% halves and such, they are good too. From '65 to '70 they were made. Actually the 1970 is the most desirable as they were in mostly in proof sets usually in great shape, and of course a lower mintage. In all coin collecting, mintage numbers are key. But regardless of "coin collecting", just the accumulation of Constitutional Silver is ideal for anyone... especially for me.....
They are "worth" whatever carries a price tag of $41. You give the merchant 41 FRNs and he hands you the product. End of transaction.
And this is the end of my participation in this endless squabble. Perhaps we can delay the next installment for a while.
Back to you, Yaworski. ;)
Yaworski
Hawkeye
I worked in telecom for a number of years and never saw a silver modem.
Star43
Hunter
Yes, I also worked in the telecom field mainly in the Cable television industry for many years.....Perhaps, I could have used a different verbiage, but the main point I was trying to make was that Silver is a valuable source that is recognized by just about everyone and has been in use as "real money" for thousands of years... thousands of years and up to today..
Yaworski
Hawkeye
I don't think that you understand what "real money" is. Real money is anything that is recognized as money. Some cultures use shells, beads, or even big rocks. Silver only has value because stupid people think that it is special. Silver is not money. Silver is a "precious metal." Once a government gives takes a planchet and stamps magical words on it, it becomes money.
Still wondering how a modem fits in here.
Still wondering how a modem fits in here.
DGW1949
Hawkeye
Your answer would be correct if the question had been "what will 41 FRN-"dollars" buy today?...Like I said, words mean things, or at least they should....At any rate, You have my apologies. I did not realize that you and I were "squabbling". I thought we were merely discussing. Otherwise I wouldn't have bothered you. I'll try to be more careful next time.
DGW
Yaworski
Hawkeye
I'd try to explain it to you but I'm out of here too.
Star43
Hunter
Yes, Silver is a precious metal, and also is Real money as it has been used for thousands of years as such. Yes, Federal reserve notes, they are money for all debts public and private as the note says....But, that it is only until the dollar collapses. If it does. And that's it.....sort of like Germany during the end of WW2 when folks loaded their Marks in a wheelbarrow to try to use them.....I hope we never ever have that happen to us, but if it did, the 90% silver Constitutional coins will be invaluable in my opinion for common trade.....not gold.....the silver coins would be way to go for small day to day trades for the common folks. Hopefully that never happens, but in case it did, the Constitutional Silver would be invaluable in my opinion. Don't know where you live but if it was near the central valley in California, I would love to have you visit my coin club. I think you would find it borh fascinating and interesting....now that's a true "medem'
...as in a "bridge" to survival.
Yaworski
Hawkeye
No, it isn't money until it is stamped into coinage. Again, I don't think that you know what money is.
Citation for "constitutional coinage."
Coin club? I'd rather go to a Star Trek convention and I don't want to do that.
Star43
Hunter
Oh, I definitely know what "Money" is, and sadly I don't think you do. As far as a coin club experience, I really think you would like it as we discuss a lot more than coins....we discuss "Money"......I would not go to a star trek convention either. And I am done with this subject. Take care and have a great day......
Yaworski
Hawkeye
LOL. Your lot seems to think that gold and silver have some magical properties because some people long ago decided to turn it into coins.
I noticed that you never answered my question.
Good bye.
Star43
Hunter
What i meant by using the term modem, and i Alteady admitted that I should have used some different verbiage......what I meant was that in case of a monetary disaster ever happening, that Silver in my opinion would be used as the connecting device to help bridge the big change as how we buy things to live and survive. 90% Constitutional Silver as That is the proper term for it, would be ideal for the common man...certainly not gold, again in my opinion...... Again, hopefully that never happens to us, but if you look at the history of Fiat money....you should be able to understand that......Silver has alway been referred to as the poor man's gold.....to me, again, in my opinion, is that Silver would truly shine in that scenario.Please look up the term modem as it means a connecting device that is used to bridge a communication.....That is what I was trying to relate to....Bye.
JMD101
Single-Sixer
Thru much of history the value ratio was 10 to 1 ,silver to gold. Some would say it's quite undervalued, or controlled with paper silver options where ther is not enough physical silver to cover their paper. I guess it's all good until the "music stops"
OP
If or when the SHTF your gold or silver will be barter …. Much like all other things you own
They wont be some type of magic pill or salvation when store shelves and gas pumps are empty and power lines are dead
They wont be some type of magic pill or salvation when store shelves and gas pumps are empty and power lines are dead
Star43
Hunter
Yes, I agree that Silver would basically used in bartering situations. That is how the monetary system started in the first place. Yeah it would be used in bartering instances. It makes things easier that way. In another thread a while back I mentioned that there is more than one place/store in LA today that gladly takes in 90% silver and bullion for buying & selling goods. And that's today. They go by the current spot value when calculating all their transactions. Those shopkeepers love the real silver...In a SHTF scenario, I would think it would be a natural thing to see and do......in my opinion....
OP
I think my vision of a SHTF scenario must be different from others.
I picture things like scenes from movies The Book of Eli or Mad Max.
There won’t be any dropping by a store front in Dockers and Crocs to check spot price on your smart phone and negotiate a transaction. Maybe chat a bit and pick up a latte on your way home. Nope …. It’ll be a whole different world.
I picture things like scenes from movies The Book of Eli or Mad Max.
There won’t be any dropping by a store front in Dockers and Crocs to check spot price on your smart phone and negotiate a transaction. Maybe chat a bit and pick up a latte on your way home. Nope …. It’ll be a whole different world.
Star43
Hunter
Yeah, I also was kind of thinking like that too.....the days of lattes I think would be over for sure at that point......I sure hope we never see that, but in the case of a more civilized type of scenario, it could work out very easily....again, hope that it never happens, but you never know...
JMD101
Single-Sixer
As of mid-2025, a growing number of U.S. states, including Arkansas, Florida, Louisiana, Missouri, Oklahoma, Texas, Utah, and Wyoming, have passed laws that recognize gold and silver as legal tender, often including provisions for sales tax exemptions on precious metals. These laws empower residents to use precious metals for transactions and seek to establish an alternative to traditional currency, especially during times of economic uncertainty.
Many gunbroker sellers also accept bullion in lieu of FRNs.
JMD101
Single-Sixer
Cash it tough enough for them to deal with.
Huntfish918
Single-Sixer
90% silver dimes will be the medium of exchange is my prediction.
Small enough denomination to exchange for goods.
And, when you go to the coin store to buy some, ask for Liberty dimes, not the ones with that damned democrat FDR...it always gets a laugh from the guys behind the counter!
Small enough denomination to exchange for goods.
And, when you go to the coin store to buy some, ask for Liberty dimes, not the ones with that damned democrat FDR...it always gets a laugh from the guys behind the counter!
- Joined
- Oct 27, 2014
- Messages
- 364
Except silver has industrial value and will going forward as technology requires it.
Well, gold also has considerable industrial value in electronics, so there's that. ;)
