What's in YOUR wallet? (hint: it is not money) UPDATE: INTERVIEW WITH AUTHOR

[tweakmm]

Originally posted by: Spencer278

Originally posted by: Dissipate

Originally posted by: jumpr

Originally posted by: Dissipate

Originally posted by: z0mb13
oh ok, name me something that we cant do with today's money compared to the money before the goverment made the changes

Go to a bank or federal reserve bank and redeem it for dollars which at the time were weights of precious metals, gold and silver. 371.25 grains of silver or 27.0 grains of gold to be exact.

And providing that the United States currency system will not collapse in the near future, why would I want to redeem my money for gold?

Money is made of gold or silver. You would not redeem your money for gold, that is nonsensical. What you might want to do is redeem your Notes for gold. Why? To insure the government can't run the printing presses as much as it likes which it has been for some time now.

If I wanted my money in the form of gold I could go buy gold. Just like if I want my money in the form of food I go and buy food I don't have to special food notes that are demable for meat.

It would be really cool to have meat notes though.

 

[Dissipate]

Originally posted by: Sid59
im lost. i need to reread all that crap.

Cliff notes:

Those green pieces of paper that the banks issue are not Notes, by the legal definition.

Also:

They are not money, or dollars.

They are mislabeled on purpose to spread the lie that they are just as good as the original Notes that could really be redeemed for gold and silver.

 

[Dissipate]

Originally posted by: Zenmervolt

Originally posted by: Dissipate

Originally posted by: z0mb13
oh ok, name me something that we cant do with today's money compared to the money before the goverment made the changes

Go to a bank or federal reserve bank and redeem it for dollars which at the time were weights of precious metals, gold and silver. 371.25 grains of silver or 27.0 grains of gold to be exact.

That was done nearly 100 years ago, and was and is widely publicised and easily discovered. It is not "hidden" and if you weren't taught that the US was off of the Gold Standard and off of the Silver Standard in your 9th grade US history class then your high school sucks. Your "revelations" are not news to anyone except someone who has had his head in the sand. As far as a bank tellar being mistaken, you do realise that bank tellars are _not_ by any stretch of the imagination financial professionals? Most of the time tellars either have no college degree or their degree is in the humanities and they have a job as a tellar because they just need the income.

ZV

If that's true why does the government still mis-label paper currency as being Notes and dollars? Why did it keep the same look and feel and merely remove a small number of words of the Notes? This is what is known as deception.

 

[beer]

God some people are so funny. As if the US Economy is going to collapse and the dollar devalued :roll: :roll:
Take an economics class and see why we went off the gold standard. There's a very good reason that it didn't work anymore. You could probably buy a legitimate economics textbook and elighten yourself far more with the same $55 you spent on that conspiracy theory crap.

 

[Dissipate]

Originally posted by: beer
God some people are so funny. As if the US Economy is going to collapse and the dollar devalued :roll: :roll:
Take an economics class and see why we went off the gold standard. There's a very good reason that it didn't work anymore. You could probably buy a legitimate economics textbook and elighten yourself far more with the same $55 you spent on that conspiracy theory crap.

Bwahaha, tell that to the family of Murray Rothbard, the great Austrian economist.

 

[Zenmervolt]

Originally posted by: Dissipate
They are mislabeled on purpose to spread the lie that they are just as good as the original Notes that could really be redeemed for gold and silver.

In actual practical terms, they _are_ just as good. There is no common, everyday use for which Federal Reserve tokens cannot be used where the older notes would be more advantageous.

ZV

 

[z0mb13]

Originally posted by: Dissipate

Originally posted by: beer
God some people are so funny. As if the US Economy is going to collapse and the dollar devalued :roll: :roll:
Take an economics class and see why we went off the gold standard. There's a very good reason that it didn't work anymore. You could probably buy a legitimate economics textbook and elighten yourself far more with the same $55 you spent on that conspiracy theory crap.

Bwahaha, tell that to the family of Murray Rothbard, the great Austrian economist.

AUSTRIAN?? hmm thats why..

I bet he have some kind of grudge towards the US

 

[sonambulo]

Originally posted by: Dissipate
Interesting how you say AS LONG AS I CAN....

interesting. so a bushel of corn would cost .49 in 1800 and 17.64 in 2002. what does this prove besides the fact that you should post this crap on another forum?

 

[Dissipate]

Originally posted by: z0mb13

Originally posted by: Dissipate

Originally posted by: beer
God some people are so funny. As if the US Economy is going to collapse and the dollar devalued :roll: :roll:
Take an economics class and see why we went off the gold standard. There's a very good reason that it didn't work anymore. You could probably buy a legitimate economics textbook and elighten yourself far more with the same $55 you spent on that conspiracy theory crap.

Bwahaha, tell that to the family of Murray Rothbard, the great Austrian economist.

AUSTRIAN?? hmm thats why..

I bet he have some kind of grudge towards the US

He was born and raised in the U.S., he is not Austrian. Austrian is a school of economics, to say someone is an economist of the Austrian school of thought, does not have anything to do with their nationality.

 

[Zenmervolt]

Originally posted by: Dissipate

Originally posted by: Zenmervolt

Originally posted by: Dissipate

Originally posted by: z0mb13
oh ok, name me something that we cant do with today's money compared to the money before the goverment made the changes

Go to a bank or federal reserve bank and redeem it for dollars which at the time were weights of precious metals, gold and silver. 371.25 grains of silver or 27.0 grains of gold to be exact.

That was done nearly 100 years ago, and was and is widely publicised and easily discovered. It is not "hidden" and if you weren't taught that the US was off of the Gold Standard and off of the Silver Standard in your 9th grade US history class then your high school sucks. Your "revelations" are not news to anyone except someone who has had his head in the sand. As far as a bank tellar being mistaken, you do realise that bank tellars are _not_ by any stretch of the imagination financial professionals? Most of the time tellars either have no college degree or their degree is in the humanities and they have a job as a tellar because they just need the income.

ZV

If that's true why does the government still mis-label paper currency as being Notes and dollars? Why did it keep the same look and feel and merely remove a small number of words of the Notes? This is what is known as deception.

No, it's called using the common and colloquial terms in order to make money more understandable. Any schmuck off the street can easily reasearch in any public library and in 5-10 minutes realise that the US is not on the Gold Standard. It is not hidden. Simply because the government chose to use the commonly-used terminology even though it is not technically correct is not an indication of deception. Have you ever called an SUV a "truck"? Then, Oh NO! By your warped definition, you're guilty of deception!

ZV

 

[Dissipate]

Originally posted by: sonambulo

Originally posted by: Dissipate
Interesting how you say AS LONG AS I CAN....

interesting. so a bushel of corn would cost .49 in 1800 and 17.64 in 2002. what does this prove besides the fact that you should post this crap on another forum?

I did post this pertinent information on other forums. However, time and time again I am reminded of the fact that it is here (and other forums like this) where I should be posting this valuable information because these forums have let's say "lesser informed" people on them.

 

[Yossarian]

how many of these dollars/bills/notes/federal reserve tokens must I exchange for one tinfoil beanie?

 

[Dissipate]

Originally posted by: Zenmervolt

Originally posted by: Dissipate

Originally posted by: Zenmervolt

Originally posted by: Dissipate

Originally posted by: z0mb13
oh ok, name me something that we cant do with today's money compared to the money before the goverment made the changes

Go to a bank or federal reserve bank and redeem it for dollars which at the time were weights of precious metals, gold and silver. 371.25 grains of silver or 27.0 grains of gold to be exact.

That was done nearly 100 years ago, and was and is widely publicised and easily discovered. It is not "hidden" and if you weren't taught that the US was off of the Gold Standard and off of the Silver Standard in your 9th grade US history class then your high school sucks. Your "revelations" are not news to anyone except someone who has had his head in the sand. As far as a bank tellar being mistaken, you do realise that bank tellars are _not_ by any stretch of the imagination financial professionals? Most of the time tellars either have no college degree or their degree is in the humanities and they have a job as a tellar because they just need the income.

ZV

If that's true why does the government still mis-label paper currency as being Notes and dollars? Why did it keep the same look and feel and merely remove a small number of words of the Notes? This is what is known as deception.

No, it's called using the common and colloquial terms in order to make money more understandable. Any schmuck off the street can easily reasearch in any public library and in 5-10 minutes realise that the US is not on the Gold Standard. It is not hidden. Simply because the government chose to use the commonly-used terminology even though it is not technically correct is not an indication of deception. Have you ever called an SUV a "truck"? Then, Oh NO! By your warped definition, you're guilty of deception!

ZV

A lot of people today are not deceived in the respect that they know that government issued currency is not backed by anything and sadly they have grown to believe that this is the best system. I am talking about the blatant deception that occured when the government made the switch. Your parents and grandparents were tricked, bamboozled, hoodwinked, scammed, defrauded.

Furthermore, like I said before, why does the government continue to print Note and Dollar on its paper currency? It is not legally a Note and it has nothing to do with a Dollar.

 

[sonambulo]

Originally posted by: Dissipate
I did post this pertinent information on other forums. However, time and time again I am reminded of the fact that it is here (and other forums like this) where I should be posting this valuable information because these forums have let's say "lesser informed" people on them.

hmm okay. if your so s-m-r-t then maybe you can explain to the forum whats the deal with those little tickets i seem to be winning at the arcade? and what about bar dollars?

at first i thought i knew this world. but after your post everything is topsy turvy. whoah.

 

[Spencer278]

Originally posted by: Dissipate

Originally posted by: sonambulo

Originally posted by: Dissipate
Interesting how you say AS LONG AS I CAN....

interesting. so a bushel of corn would cost .49 in 1800 and 17.64 in 2002. what does this prove besides the fact that you should post this crap on another forum?

I did post this pertinent information on other forums. However, time and time again I am reminded of the fact that it is here (and other forums like this) where I should be posting this valuable information because these forums have let's say "lesser informed" people on them.

As long as you don't have stachs of bills/notes/tokens under your matters inflation will have very little effect on your purchasing power or wealth.

 

[Dissipate]

Originally posted by: sonambulo

Originally posted by: Dissipate
I did post this pertinent information on other forums. However, time and time again I am reminded of the fact that it is here (and other forums like this) where I should be posting this valuable information because these forums have let's say "lesser informed" people on them.

hmm okay. if your so s-m-r-t then maybe you can explain to the forum whats the deal with those little tickets i seem to be winning at the arcade? and what about bar dollars?

at first i thought i knew this world. but after your post everything is topsy turvy. whoah.

They are tokens. The definition of which is in the OP.

 

[Zenmervolt]

Originally posted by: Dissipate
A lot of people today are not deceived in the respect that they know that government issued currency is not backed by anything and sadly they have grown to believe that this is the best system. I am talking about the blatant deception that occured when the government made the switch. Your parents and grandparents were tricked, bamboozled, hoodwinked, scammed, defrauded.

Furthermore, like I said before, why does the government continue to print Note and Dollar on its paper currency? It is not legally a Note and it has nothing to do with a Dollar.

Americans have traditionally reacted in a strong negative fashion to any significant change in the appearance of our currency.

Furthermore, it was still not deception. The vast majority of the population is not well-versed enough in the intricasies of Finance to understand the denotative differences in the terms you list in your original post. If the Fed changed the wording to reflect the proper denotative definitions there would be massive confusion. Not because people didn't trust the new system, but because they did not understand the terms in anything other than a conotative sense. While the prescriptive definition of the terms is indeed as you say, the descriptive definitions all blend into each other and they are essentially synonyms as far as the general public is concerned. If you insist on continuing to perpetuate this idle prattle of yours about the government being able to alter the course of our language, I would strongly suggest that you take a dual- or triple-major at a large accredited university with Linguistics and Econ or Linguistics, Econ, and Finance.

ZV

 

[Zenmervolt]

Originally posted by: Spencer278
As long as you don't have stacks of bills/notes/tokens under your matters inflation will have very little effect on your purchasing power or wealth.

Precisely. Getting a return on investment equal to the inflation rate is brain-dead simple.

ZV

 

[Dissipate]

Originally posted by: Spencer278

Originally posted by: Dissipate

Originally posted by: sonambulo

Originally posted by: Dissipate
Interesting how you say AS LONG AS I CAN....

interesting. so a bushel of corn would cost .49 in 1800 and 17.64 in 2002. what does this prove besides the fact that you should post this crap on another forum?

I did post this pertinent information on other forums. However, time and time again I am reminded of the fact that it is here (and other forums like this) where I should be posting this valuable information because these forums have let's say "lesser informed" people on them.

As long as you don't have stachs of bills/notes/tokens under your matters inflation will have very little effect on your purchasing power or wealth.

Who the hell told you that?

 

[Spencer278]

Can you explain how it is bad for the economy to be based of "tokens" instead of gold notes. With either system there is the chance that the value of the currency could crash if goverment either printed extra notes or sold off the gold.

 

[Hector13]

i don't know if your post is a joke or if you are really that naive. The definitions of "money" and "currency" that you are using are from like 1810. On top of that, they were most probably picked from sources that would best support the moron authoer who wrote this book.

Are words & their definitions not allowed to change over time? Would you prefer people used the original definition of a "computer" or "telephone" (neither of which would probably match what you curently believe them to be)?

 

[sonambulo]

Originally posted by: Dissipate
They are tokens. The definition of which is in the OP.

service with a smile. kind of reminds me of bukkake.

 

[Zenmervolt]

Originally posted by: Dissipate

Originally posted by: Spencer278
As long as you don't have stachs of bills/notes/tokens under your matters inflation will have very little effect on your purchasing power or wealth.

Who the hell told you that?

People who know that the rate of return on a T-Bill is more than inflation.

ZV

 

[Spencer278]

Originally posted by: Dissipate

Originally posted by: Spencer278

Originally posted by: Dissipate

Originally posted by: sonambulo

Originally posted by: Dissipate
Interesting how you say AS LONG AS I CAN....

interesting. so a bushel of corn would cost .49 in 1800 and 17.64 in 2002. what does this prove besides the fact that you should post this crap on another forum?

I did post this pertinent information on other forums. However, time and time again I am reminded of the fact that it is here (and other forums like this) where I should be posting this valuable information because these forums have let's say "lesser informed" people on them.

As long as you don't have stachs of bills/notes/tokens under your matters inflation will have very little effect on your purchasing power or wealth.

Who the hell told you that?

Common Sense you link is horrible flawed. Ok maybe I should have included the stupid.

Particular sufferers will be those depending on fixed money contracts?contracts made in the days before the inflationary rise in prices. Life insurance beneficiaries and annuitants, retired persons living off pensions, landlords with long term leases, bondholders and other creditors, those holding cash, all will bear the brunt of the inflation. They will be the ones who are "taxed."

And people writing the contracts do not have to use dollars they could have their pension to be based off the prices of sausage if they wanted to. It is easy to prevent loses due to inflation by palning for it and not have a fixed increase return.

By creating illusory profits and distorting economic calculation, inflation will suspend the free market's penalizing of inefficient, and rewarding of efficient, firms. Almost all firms will seemingly prosper

No not all firms will prosper I'm going to invest my money in the firm that is making 20x a year instead of the one making 10x a year for all positive values of x.

Inflation also penalizes thrift and encourages debt, for any sum of money loaned will be repaid in dollars of lower purchasing power than when originally received. The incentive, then, is to borrow and repay later rather than save and lend. Inflation, therefore, lowers the general standard of living in the very course of creating a tinsel atmosphere of "prosperity."

If people lost money by lending it then they would stop lending money and invest in a real capital. It is true that the money lent now we be payed back with weaker dollars but that is more then compenstated with intrest rates.

 

[beer]

I feel dumber just reading this thread. Dissispate has made me lose about 10 IQ points a second in this thread. Warning!

Move this sh!t over to P&N so it doesn't clutter the good stuff of offtopic.