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Very Hot Topic (More than 25 Replies) No dollar bills in favor of electronic payments or hard (like gold)? (Read 1704 times)
SkyChief
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #10 - Mar 16th, 2019 at 7:17pm
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AlayneLeung wrote on Mar 16th, 2019 at 5:55pm:
I don't ever use credit cards, and I'm not in debt.

If you trade using fiat dollars, you are in debt.   If you are a US taxpayer, you are in debt.   

Don't feel bad - we all are.

It's ironic, but the only Americans NOT in debt are the homeless. (and those who live off-the-grid).
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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Jeff
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #11 - Mar 16th, 2019 at 8:01pm
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SkyChief wrote on Mar 16th, 2019 at 7:17pm:
If you trade using fiat dollars, you are in debt. 
If I give you 25 FRNs for your old lawnmower, I'm not in debt and neither are you. Not from that trade anyway.

Our governments are way over their heads in debt and hope future legislatures will collect future taxes to cover it. Fiat money has facilitated the government debt, but whether future taxpayers will pay it remains to be seen...

Common sense says they won't be able to.
  

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SkyChief
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #12 - Mar 17th, 2019 at 3:10am
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Jeff wrote on Mar 16th, 2019 at 8:01pm:
Fiat money has facilitated the government debt, but whether future taxpayers will pay it remains to be seen...

As long as everyone keeps drinking the Kool-Aid, everything will be fine. 

When SHTF, federal reserve notes won't even be worth the paper they're printed on.   Grin

American Silver Eagles will still serve as money, though.

"A [federal reserve note] is a receipt for a claim check on an IOU."  -  Mike Maloney
  

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Jeff
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #13 - Mar 17th, 2019 at 8:40am
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SkyChief wrote on Mar 17th, 2019 at 3:10am:
As long as everyone keeps drinking the Kool-Aid, everything will be fine. 

When SHTF, federal reserve notes won't even be worth the paper they're printed on.   Grin

American Silver Eagles will still serve as money, though.

"A [federal reserve note] is a receipt for a claim check on an IOU."  -  Mike Maloney
I've been stockpiling bolivars, I'll be ready!
  

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SkyChief
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #14 - Mar 17th, 2019 at 11:56am
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Some localities are abandoning the Dollar for more sound (silver-backed) currencies.

Silver Certificates are back in fashion in Live Oak, Florida.

https://www.prlog.org/12759472-infamous-liberty-dollar-is-back.html

The Liberty Dollar is backed by pure .999 fine silver valued at $25/ounce.

The valuation is set higher than the current price of silver because, as Kathy Hicks, President of the Liberty Dollar Network, explains, "You can't base a currency on the market value of a commodity, because the price changes daily."

A list of (hundreds of) places in the US who use local currencies in lieu of the Dollar:

https://en.wikipedia.org/wiki/List_of_community_currencies_in_the_United_States

I myself often buy tobacco, get a haircut and pay our mechanic without spending any dollars.  Silver coins are a much better method of payment because of tax savings.   

e.g.,  If the mechanic's bill for a new radiator/water pump comes to $320, I can pay him $320 + $28 sales tax ($348).

OR I can pay with 20 silver "dollars".   The sales tax on $20 is only $1.80!!   Smiley    Which he waives.

The Founders understood that you need to base the financial system upon real money and wrote "gold" and "silver" specifically into the constitution as law to be enforced.    Bankers didn't want the People to have real money so, in December 1913, they introduced the Federal Reserve Note - the biggest banking scam on the American people in US history.  Woodrow Wilson signed it.

(edit to add link)
« Last Edit: Mar 17th, 2019 at 3:03pm by SkyChief »  

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kaz
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #15 - Mar 17th, 2019 at 12:08pm
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SkyChief wrote on Mar 17th, 2019 at 11:56am:
The valuation is set higher than the current price of silver because, as Kathy Hicks, President of the Liberty Dollar Network, explains, "You can't base a currency on the market value of a commodity, because the price changes daily."


That doesn't make sense.  Silver changes in price in regard to the US dollar, not to her silver based currency
  

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SkyChief
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #16 - Mar 17th, 2019 at 12:14pm
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kaz wrote on Mar 17th, 2019 at 12:08pm:
That doesn't make sense.  Silver changes in price in regard to the US dollar, not to her silver based currency
The US dollar's value (purchasing power) goes up and down according to the whims of investors, and influence of foreign currencies.

The value (purchasing power) of an ounce of silver has remained virtually unchanged since the times of Caesar.
  

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kaz
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #17 - Mar 17th, 2019 at 12:35pm
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SkyChief wrote on Mar 17th, 2019 at 12:14pm:
The US dollar's value (purchasing power) goes up and down according to the whims of investors, and influence of foreign currencies.

The value (purchasing power) of an ounce of silver has remained virtually unchanged since the times of Caesar.


Most of what you have said about the US dollar is mostly true.  But you're wrong when you say the value of the dollar is set arbitrarily and controlled by whims
  

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SkyChief
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #18 - Mar 17th, 2019 at 12:41pm
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kaz wrote on Mar 17th, 2019 at 12:35pm:
Most of what you have said about the US dollar is mostly true.  But you're wrong when you say the value of the dollar is set arbitrarily and controlled by whims

Then who (or what) determines the purchasing power of the dollar?
  

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kaz
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Re: No dollar bills in favor of electronic payments or hard (like gold)?
Reply #19 - Mar 17th, 2019 at 12:44pm
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SkyChief wrote on Mar 17th, 2019 at 12:41pm:
Then who (or what) determines the purchasing power of the dollar?


It's driven by the comparative effects of monetary policy.  Inflation and interest rates most directly drive the dollar, but of course many other factors go into those.

I say comparative because it's comparative to what everyone else is doing with their monetary policy.  All the western governments harm their own currencies.  If you harm yours less than the others, you win!
  

Contest winner:  I predicted Kaz' meltdown
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