Man Convicted of Minting His Own Currency

[Modelworks]

Sounds like it. The government was being a hater because his money is actually worth something. When U.S. gets devalued so much in the future, at least I won't run out of toilet paper.

It is made of a cloth like material so I plan to sew mine together and make a suit out of a stack of 100's

 

[MoMeanMugs]

You should make a pimp hat to go along with it. Show your swag!

 

[quakefiend420]

US Constitution

The framers let anyone print paper money but only Congress could direct the minting of coinage.

As long as we're quoting the constitution...

Article I, Section. 10.No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

sounds to me like the liberty dollar was closer to following the supreme law of the land than the federal reserve is...and i know that it specifically says state, not federal government, but i don't think the founding fathers ever envisioned the federal government taking over everything as it has

part of the original idea was that many smaller state governments would help to keep the balance of power in check...part of what they were getting away from was a central ruling authority that had absolute power over the entire country....yet, look at what we've ended up with

anything not specifically granted to the federal government should be in control of the individual states, instead it's become that federal laws supersede the states...see the DEA stepping in and prosecuting people in california for legally(under california law) growing or distributing marijuana

 

[Zstream]

I mean, really, gold (metal) bug's perception of "value" versus a paper currency are so fucking irrational.

Paper is abundant, gold is not. People prop up the American dollar all the time, how can you place a value on paper?

It's all speculation... Haven't you heard of the dollar vs. euro? How can a dollar go to .86 cents to 1.14$ in a few days. Your speculation argument is silly.

 

[LegendKiller]

Paper is abundant, gold is not. People prop up the American dollar all the time, how can you place a value on paper?

It's all speculation... Haven't you heard of the dollar vs. euro? How can a dollar go to .86 cents to 1.14$ in a few days. Your speculation argument is silly.

Who cares if it is abundant or not? What if a meteor full of gold crashed on earth or we found a Everest size mountain full of gold?

How can you place value on gold? If 80%+ of gold's value is jewelry, then its value is only psychological.

Where exactly did the dollar go from .86 to 1.14 "in a few days"?

 

[arkcom]

Cities come up with their own money all the time. I don't see them getting in trouble for it.

 

[LegendKiller]

As long as we're quoting the constitution...



sounds to me like the liberty dollar was closer to following the supreme law of the land than the federal reserve is...and i know that it specifically says state, not federal government, but i don't think the founding fathers ever envisioned the federal government taking over everything as it has

part of the original idea was that many smaller state governments would help to keep the balance of power in check...part of what they were getting away from was a central ruling authority that had absolute power over the entire country....yet, look at what we've ended up with

anything not specifically granted to the federal government should be in control of the individual states, instead it's become that federal laws supersede the states...see the DEA stepping in and prosecuting people in california for legally(under california law) growing or distributing marijuana

This is an oft-misquoted and mis-understood portion of the Constitution. You should research it better.

http://www.wealthmoney.org/forums/topic/12

 

[FelixDeCat]

Who cares if it is abundant or not? What if a meteor full of gold crashed on earth or we found a Everest size mountain full of gold?

Derp. Youve never heard of inflation? And the entire worlds known gold supply could could fit in a cube 20m x 20m x 20m (per wikipedia). Even if hundreds "meteor(s) full of gold crashed on earth" it would never approach the inflationary effect that has occured in currency around the world and the US.

With nearly 15 trillion dollars in debt against our "full faith and credit", and growing by 1.5 trillion+ recently, it may very well take a cube of 20m of cash on all sides to buy an ounce of gold.

This is what has driven the overheated speculation in gold and ESPECIALLY silver. The world's debt delima. A balanced budget would slam precious metals hard. Until then, the skys the limit because we cant get our financial house in order to save our lives, even if it means default.

 

[LegendKiller]

Derp. Youve never heard of inflation? And the entire worlds known gold supply could could fit in a cube 20m x 20m x 20m (per wikipedia). Even if hundreds "meteor(s) full of gold crashed on earth" it would never approach the inflationary effect that has occured in currency around the world and the US.

With nearly 15 trillion dollars in debt against our "full faith and credit", and growing by 1.5 trillion+ recently, it may very well take a cube of 20m of cash on all sides to buy an ounce of gold.

This is what has driven the overheated speculation in gold and ESPECIALLY silver. The world's debt delima. A balanced budget would slam precious metals hard. Until then, the skys the limit because we cant get our financial house in order to save our lives, even if it means default.

How much has inflation affected us? To the largest extent it's been limited to food and energy, neither of which factor overwhelmingly into the inflation category considering we spend some of the least amount of money per disposable income in the world on food and our energy prices are actually very low relatively speaking.

What's driven speculation is gold is...speculation in gold and fearmongering. The opposite drove speculation in tulip bulbs, stocks, M&A, LBOs, S&Ls, techs, houses and others. It's counter-cyclical. To claim that an unbalanced budget drove speculation is counter intuitive to the 1980s run-up. To claim that it's a hedge against inflation is also wrong since it's R^2 to inflation is actually lower than many other hedges (including consumer staples).

It's easy to buy into gold mania when Glenn Beck is pushing it. Just like it was easy to buy into oil when T. Boone Pickens was saying it was going to 200/bbl. Gotta look at motivation.

 

[FelixDeCat]

How much has inflation affected us? To the largest extent it's been limited to food and energy, neither of which factor overwhelmingly into the inflation category considering we spend some of the least amount of money per disposable income in the world on food and our energy prices are actually very low relatively speaking.

What's driven speculation is gold is...speculation in gold and fearmongering. The opposite drove speculation in tulip bulbs, stocks, M&A, LBOs, S&Ls, techs, houses and others. It's counter-cyclical. To claim that an unbalanced budget drove speculation is counter intuitive to the 1980s run-up. To claim that it's a hedge against inflation is also wrong since it's R^2 to inflation is actually lower than many other hedges (including consumer staples).

It's easy to buy into gold mania when Glenn Beck is pushing it. Just like it was easy to buy into oil when T. Boone Pickens was saying it was going to 200/bbl. Gotta look at motivation.

If our national debt (and other countries) doesnt scare you it should. We could see the dollar fall to .05 cents if it is cancelled and replaced with a new currency, like the "new peso" in Mexico when they defaulted. Rubles were also a great store of value.....until Russia defaulted as well. Argentina peso? LOL.

It is not fear mongering to want to put your money (or at least some of it)into something that so far has not only been a good investment, but will also hold its value in the face of a currency devalution here or abroad. You might wonder, "who cares if Ireland defaults?" Well if you had your money in gold that would only benefit you.

There are tangible assets you can buy that would also go up in value in the face of out of control price increases, but precious metals are more easily traded.

Im not saying that it is a perfect investment, but it will surely rise in value as the world chokes "promises to pay" and the stunning growth thereof. Bank on it.

ps. Kooky talk show hosts have no impact on the price of gold.

 

[LegendKiller]

If our national debt (and other countries) doesnt scare you it should. We could see the dollar fall to .05 cents if it is cancelled and replaced with a new currency, like the "new peso" in Mexico when they defaulted. Rubles were also a great store of value.....until Russia defaulted as well. Argentina peso? LOL.

It is not fear mongering to want to put your money (or at least some of it)into something that so far has not only been a good investment, but will also hold its value in the face of a currency devalution here or abroad. You might wonder, "who cares if Ireland defaults?" Well if you had your money in gold that would only benefit you.

There are tangible assets you can buy that would also go up in value in the face of out of control price increases, but precious metals are more easily traded.

Im not saying that it is a perfect investment, but it will surely rise in value as the world chokes "promises to pay" and the stunning growth thereof. Bank on it.

ps. Kooky talk show hosts have no impact on the price of gold.

I never said I wasn't concerned about our debt or deficit. However, the thought that gold is a good hedge against the dollar is silly and out of line with any statistical analysis. Gold, in fact, is a poor hedge when compared to other investments, even consumer staples since they have pricing power.

Housing was a "good investment" also since it could be highly leveraged. Gold's drive has been fueled by such leverage through ETFs that use derivatives rather than physicals. You might think that "kooky" talk show hosts have no impact on gold. However, Glenn Beck is massively popular and prices are set at the margins, thus, the continual drumbeat fuels investments into ETFs and other products which fuels "demand" (paper/electronic mostly) for the commodity.

This was the same drumbeat that was hammered back in 2008 on oil only to see the market collapse.

 

[Perknose]

Mmmmmmmm! There is nothing quite like the fresh, minty taste of home-made money! :awe: