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34 Comments
- QuantumBios, on 02/12/2009, -3/+58Go figure. The day AFTER the biggest spending bill in human history passes, they decide to endorse Ron Paul's viewpoint. Effin jerks.
- goes211, on 02/12/2009, -0/+32The Treasury/Fed will never voluntarily allow competing currencies. They can't allow people to have that choice because surely it will result in their own irrelevancy.
If it ever does happen, it will be because of an uprising by the common man. - TruthExposed, on 02/12/2009, -2/+32FIAT currency has a 100% failure rate. It has been tried over and over again, and human history has not 1 single example of it working.
http://www.dailyreckoning.com/fiat-currency/
http://www.financialsense.com/editorials/casey/200 ... - Lawofnations, on 02/12/2009, -0/+28I went to my friendly neighborhood coin dealer recently to cash my weekly paycheck, looked at the spot quote on the wall and said: "Wow, my gold is REALLY going up!" He replied: "Your gold isn't going up. The paper is going down. YOU of all people should know that." He was right. That's why gold and silver coin are mentioned emphatically four times in the Constitution (1789) to be the only form of money to be recognized as a dollar in this country. There is no inflation with gold and silver. It is an impossibility.
There is no law that says Federal Reserve Notes (FRNs) are dollars or money. Only gold and silver coin are defined in law as dollars and money [see: Title 31 U.S.C. section 5112(a)]. Why people use worthless paper printed at will by a criminal syndicate called the Federal Reserve Banking Cartel is beyond my scope of understanding.
In 1965 LBJ enacted the Silver Coin Act to remove the silver from the lawful dollars to pay for the Vietnam War. "The Great Society" that he referred to at that time was a reference to the Babylonian banking system which crashed in the same method our debauched monetary system is crashing now.
In 1985 congress enacted the Gold Coin Act to restore and recirculate the lawful dollars as described in the Constitution. No one has any excuse anymore now that the coin is available. If you cash your paycheck for it, save some of it, and spend the rest in your community for goods and services you and those you transact with will survive this depression unscathed. I take my check to the coin dealer and write on the back: "Redeemed for Federal Reserve Notes - parity of value unknown." This qualifies the check by making a legal determination. I then write "Pay to the order of (insert name of coin dealer)" and sign it. The coin dealer gives me my coin and a receipt showing what I received cash in hand. The receipt is evidence of what I was paid. This is the only document that accurately proves how much I was paid. The so-called tax collector cannot claim the money is valued in FRNs as they are not defined in law as money or dollars.
Now comes the fun part! I go out and spend the coin. Two movie tickets, popcorn and two sodas are one silver dollar. A haircut is one silver dollar. Dinner for two at a nice restaurant, with wine, is four silver dollars. One months rent is twenty-five gold dollars. I haven't had success buying gasoline but utilities, dry cleaning, cars, medical bills, etc. have all been paid for by me on a regular basis with lawful money. I should warn you that one should be discreet about using the coin; merchants tend to stop what they are doing when they see you walking into their place of business, smile and move you to the front of the line, and then wait on you personally. Waiters bring out an additional plate "compliments of the chef". Even cops give you the thumbs up because they know you are making a correction and stabilizing your community.
If you choose to cash the dollars in for worthless securities [see: IRC 165(g)] I suggest you wait until you get a better return. As there is no paper trail evidencing that you redeemed the gold and silver for paper then the "mafia" cannot tax you.
There are companies that pay in gold dollars. One of the earliest examples is owned by Robert (Bobby) Kahre. You may want to do a search on his name also should the spirit move you. Also check out this memorandum by for an excellent disertation: www.hiddenmysteries.org/themagazine/vol14/research/bank-secrets.shtml - 52k -
The judge was murdered for this ruling and the attorney who entered the matter of the illegality of FRNs into evidence was disbarred. And so it goes.. - SatoriSeeker, on 02/12/2009, -0/+2521 Evils of Inflation
http://video.google.com/videoplay?docid=-648406113 ... - inactive, on 02/12/2009, -1/+25Good thing they didn't deign to notice the Bush administration's expensive, years-long attack on both e-gold & the Liberty Dollar, eh? Nice job at "journalism" WSJ! Good thing the government singlemindedly attacked 100%-backed stuff while leaving leveraged-up-the-ass ***** which would lead to bailouts alone because of political donation corruption. Sigh. Dugg anyway.
- pdubya, on 02/13/2009, -1/+18His future articles could simply be titled, "Ron Paul Is Right".
- ReaverKS, on 02/12/2009, -2/+19Did anyone else have a long debate with someone else on the interwebs about how the gold standard would (although not in the exact same fashion as before) be a great idea? Oh Ron Paul, where art thou
- inactive, on 02/13/2009, -0/+16Nothing beats metals when it comes to intrinsic value. Gold and silver are great. I have my fair share of both.
However, I find that lead is a far more worthwhile metal to have in stock. When someone comes for any of your metals, lead equalizes the playing field rather quickly. - clonestar, on 02/13/2009, -1/+16Most sheeple will have to learn, the hard way, history's oldest economic lesson. All fiat currencies eventually find their true intrinsic value: zero.
- NeoConned08, on 02/13/2009, -3/+18Can't wait for NoLibertarians to show up hahaha!!! Such a looser. At any rate, glad to see people are finally beginning to understand the machinations of the State and how they use a worthless fiat paper currency to their benefit and everyone elses detriment, especially the poor and elderly who live on fixed incomes and don't get the benefit of a *cost of living* raise to ease the pain of inflation. Competing currencies in the open market are a very good way of getting this out of control government back in line. A gold standard will put chains on their outrageous spending and keep them from bankrupting our children and grandchildren.
- inactive, on 02/13/2009, -0/+13The Money Masters:
http://www.educatorsofliberty.com/index.php?sectio ... - silentboom, on 02/13/2009, -0/+11Viva la R3VOLUTION!!!!!!!
- juankovo, on 02/13/2009, -0/+10How is it a stupid idea? It keeps the currencies honest. You don't even NEED a gold standard if gold/silver/etc. are allowed to be used for contracts, because the people in control of the dollars will know that if they abuse it (by inflating the currency) then people will flee to safer currencies.
- Lawofnations, on 02/13/2009, -0/+8Yes, I physically appear at the office and hand the lady behind the counter the coin at the current exchange rate. Since a valid offer to pay has been made the Public Utilities Commission and State Law forbid the power from being turned off.
What about "income taxes"? Please provide the rule, statute or regulation that defines the word "income". People never think about this and never bother. I have. There is none. The IRS and the FTB will not (and cannot) define the term either. If they did they would have to make a legal determination of what is money. Either way they will be caught in a fraud as accessories after the fact.
BTW - Thanks for your question. I just noticed the link I provided didn't work so just do a search on Martin V. Mahoney and you'll learn plenty about the illegality of FRNs. - foontala, on 02/13/2009, -0/+8A similar thing happened to me when I submitted an editorial two weeks before the primary in Florida.
On Sunday before the primary it was Huckabee, Romney, and McCain on the front page. No Ron Paul.
On primary day (Jan 29, 2008), it was McCain and Romney on the front page. No Huckabee, No Ron Paul.
The day after the primary, they printed my editorial about the blatant media bias against Ron Paul as the lead editorial. - Lawofnations, on 02/13/2009, -1/+9N.L.? He's off drowning kittens.
- EvansHall, on 02/13/2009, -0/+8First a disclaimer: I am a ardent RP acolyte.
By "they" I think you mean the WSJ. A paper printing an oped is not an endorsement of the oped's position. But it is cool to see an article on sound money in a widely read publication. Judy Shelton wrote a similar oped last November that was also published in WSJ. - kemp34, on 02/13/2009, -1/+8So you see freedom of contract as a bad idea? What a petty tyrant!
- juankovo, on 02/13/2009, -0/+7You have a lot of learning to do, vault.
All empires end when they debase their currencies. The U.S. is currently debasing its currency. We've got to pay for bread and circuses somehow. - brian0918, on 02/13/2009, -0/+6My own solution: we should start using GLD stocks the way we use money! This can be done immediately and without government having to lift a finger.
- boulder555, on 02/13/2009, -0/+6FTA -- "The initial justification for government involvement in money was to certify the weight and fineness of private gold coins. That rulers found it all too tempting to debase the money and defraud its users testifies more to the corruptive aspects of sovereign authority than to the viability of gold-based money.
Which is why government officials should not now have the last word in determining the monetary measure, especially when they have abused the privilege." - kemp34, on 02/13/2009, -0/+5You would have to deal with actual ownership or management, i.e. have a cultivated relationship.
- Lawofnations, on 02/13/2009, -0/+5"If someone were to discover..a very large amount of gold.." That's a very large "If". The last person that I'm aware of that shared that view was Cortez looking for a city of gold.
You didn't check out the Kahre case did you? He beat them on all 161 counts. As far as the courts are concerned you are hereinafter diferred to the Honorable Martin V. Mahoney's memorandum.
The IRS? They have confirmed to me personally (off the record of course) that my facts (not views) are absolutely correct and they have nothing on me.
And lastly we shall discuss the term "income". There is no rule, statute or regulation that legally defines it. If there was there would be a lot of people thrown into prison for fraud - starting with Bernanke - as it would be revealed that there is only one definition of the word dollar in this country [again see: Title 31 U.S.C. sec. 5112(a)]. The value of Gold and silver dollars are regulated by Congress and not by the "worthless securities" [see: IRC 165(g)] valued in "Special Drawing Rights" which are printed by an unconstitutional, unregulated, unaccountable, unethical, privately controlled foreign banking cartel called the Federal Reserve.
Also, be very careful about suggesting these corporations have more (and bigger) guns than I as a criminal threat, on the Internet or otherwise, is a felony. - iceman0113, on 02/13/2009, -0/+5I'm wondering about this part:
"Now comes the fun part! I go out and spend the coin. Two movie tickets, popcorn and two sodas are one silver dollar. A haircut is one silver dollar. Dinner for two at a nice restaurant, with wine, is four silver dollars. One months rent is twenty-five gold dollars. I haven't had success buying gasoline but utilities, dry cleaning, cars, medical bills, etc. have all been paid for by me on a regular basis with lawful money."
How do these places readily accept the gold standard? I've been cashing in a percentage of my paychecks for silver, but haven't tried to pay for groceries, haircuts, etc with silver. Plus, how do you pay the utility bill with silver? Do you go into the place itself? I'm just wondering because I might just switch over completely if this is feasible. I know you don't have to report that to the IRS you bought gold and silver, but what about income taxes? I'm just really curious and am tired of seeing my money devalue everyday. - Njon, on 02/16/2009, -0/+2FTA: "An important benefit of developing a parallel currency linked to gold is that other countries could likewise permit their own citizens to utilize it. To the extent they did so, a common currency area would be created not subject to the insidious protectionism of sliding exchange rates."
Precious metals with a self-regulating market value: the only type of 'global currency' (as it were) that is actually a good idea. - gn84, on 02/13/2009, -0/+2"There is no inflation with gold and silver. It is an impossibility."
This strikes me as incorrect. While certainly much better than fiat currencies, if someone were to discover/mine a very large amount of gold and flood the market, the existing value would deflate relative to other things of value. Gold is also prone to demand fluctuations as is any other commodity.
Also, be very careful about not reporting "income" and paying taxes to the IRS. While you may be on the correct side of the law (and wage taxes are a form of slavery), the IRS, and the court system do not share these views, and they have more (and bigger) guns than you do. - troydiggs, on 02/14/2009, -0/+2i like it. or at least, create it as a competing currency.
- Njon, on 02/16/2009, -0/+2The idea is that the STATES need to enact this legislation in order to defeat the Fed. Check out what is proposed in Indiana right now: http://digg.com/world_news/Indiana_Honest_Money
That's what EVERY state needs to do. - gn84, on 02/13/2009, -0/+1@Lawofnations
Sure gold devaluation is a large if, but it is not an impossibility as you described.
I think you missed my second point. I admire your dedication, but even Kahre had to edure an armed raid by law enforcement and 4 years of legal troubles in order to get his hung jury verdict. And he's the exception to the rule-- generally speaking the IRS always wins. And even when the defendant "wins" they are usually ordered to pay anyway.
My comment was not in any way meant as a threat--toward you or anyone else. I was simply pointing out that your actions could result in the government designating you as a criminal and attempt an armed raid of your home or business, much like they did to Robert Kahre.
I fear that you may have too much faith in the fairness and justice of our legal system. - vault, on 02/13/2009, -5/+4lol they didn't endorse anything...this is just an opinion column. Do you realize both Barack Obama AND Rush Limbaugh have had articles published in the WSJ? It's not the official view of the paper.
- inactive, on 02/13/2009, -3/+1Oh please. It won't be from an uprising by the "common man". China is already looking to move off the dollar, Same with OPEC countries and Russia.
It will be for strictly large scale economic reasons.
Without looking at your profile, I can safely assume you are a Libertarian, a Ron Paul supporter, or both. How do I know? Because said Digg group ALWAYS goes down the "we need an uprising!" path. It's always about overthrowing the man. - vault, on 02/13/2009, -8/+2If by, "long debate," you mean, "I rephrased unsubstantiated, unsourced comments from ronpaulforums and presented them as my own arguments to someone on the internet," then yeah I guess plenty of people have done that.
But back here in the real world, no one seriously advocates a return to the gold standard. At least no one who matters in the grand scheme of things. - vault, on 02/13/2009, -9/+1I hope they never allow competing currencies. What a stupid idea.
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