Here is a silver dollar, pretty common, one ounce, worth today about $30. You can find these in any coin shop.
People did not trust paper money, so the state introduced silver certificates, also worth one dollar, a warehouse receipt for a dollars worth of silver sitting in the mint, top. After a while, the state got rid of those and passed out fiat currencies, bottom.
If you have silver certificates, you cannot get silver. The USGovt repudiated the debt. Silver certificates are a collectors item, you might get $2 for one, but not $30 worth of silver. I have several. See how easy it is for the state to break promises?
Today you can get say 6 or 7 gallons of gas for the one dollar silver coin. Same as 1957. In silver, prices are stable. But with a paper dollar you can get maybe 1/5th of a gallon of gas. A paper dollar buys far less. With paper, it is easy to print a lot and lower the buying power. See why it was beneficial to the state to get rid of silver coins?
Feel free to forward this by email to three of your friends.
People did not trust paper money, so the state introduced silver certificates, also worth one dollar, a warehouse receipt for a dollars worth of silver sitting in the mint, top. After a while, the state got rid of those and passed out fiat currencies, bottom.
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| http://dollardaze.org/blog/?post_id=00056&cat_id=9 |
If you have silver certificates, you cannot get silver. The USGovt repudiated the debt. Silver certificates are a collectors item, you might get $2 for one, but not $30 worth of silver. I have several. See how easy it is for the state to break promises?
Today you can get say 6 or 7 gallons of gas for the one dollar silver coin. Same as 1957. In silver, prices are stable. But with a paper dollar you can get maybe 1/5th of a gallon of gas. A paper dollar buys far less. With paper, it is easy to print a lot and lower the buying power. See why it was beneficial to the state to get rid of silver coins?
Feel free to forward this by email to three of your friends.
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