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  • #16
    Originally posted by ffreeloader View Post

    At the time dollars were called silver certificates. That means you could redeem a dollar for a dollar's worth of silver. I don't think though that silver was valued at a dollar an ounce at that time, but I haven't verified that. My guess is somewhere around $10 an ounce. The spot price for silver right now is $17/ounce. Silver did rise to $110/ounce in 1980.

    Predictions now are that silver will rise to a few hundred dollars an ounce on the collapse of the dollar which doesn't seem to be that far off according to a lot of financial analysts. Our debt levels are so high that it's impossible to pay them off. That kind of debt, as dollars are created only by the creation debt, means the dollar is worth next to nothing so it's collapse is imminent.
    You are not making much sense.
    If the silver pieces were worth way more than their currency value, they would have been taken out of circulation and melted down.
    The fact is precious metals gained in value much faster than inflation.
    So, what?

    believe it!

    Comment


    • #17
      Originally posted by quip View Post
      C"apitalism tends towards vast levels of inequality" is true to a large degree, yet many persons who vote not their pocketbooks are those who strongly dislike the other parts of the Democratic bundle, and as much as it confounds me, they do not seem to think they can plead their case.
      So, what?

      believe it!

      Comment


      • #18
        Originally posted by Ktoyou View Post

        You are not making much sense.
        If the silver pieces were worth way more than their currency value, they would have been taken out of circulation and melted down.
        The fact is precious metals gained in value much faster than inflation.
        It seems to me that your comprehension is lacking. A $1 silver certificate was redeemable for $1 worth of silver at whatever the price of an once of silver was. If an ounce of silver had a spot price of $10/ounce, which was the approximate value of silver in 1964, a silver certificate could be redeemed back then for 1/10 of an ounce of silver, not an ounce of silver.

        All I was pointing out was that CoG's price of silver was way off. Silver wasn't even close to $32/ounce in 1964 although inflation was so bad in the late 70's and early 80's that silver rose to $110/ounce. A silver certificate that a collector might have had would then have been redeemable for 1/110th of an ounce.

        Even the government is not stupid enough to pay out an ounce of silver in exchange for a single dollar. The point of the silver certificates were that there was, at least supposedly, enough silver stored by the government that everyone could redeem their silver certificates for specie.
        “Liberty cannot be established without morality, nor morality without faith.”
        ― Alexis de Tocqueville, Democracy in America

        “One and God make a majority.”
        ― Frederick Douglass

        Comment


        • #19
          Originally posted by ffreeloader View Post

          It seems to me that your comprehension is lacking. A $1 silver certificate was redeemable for $1 worth of silver at whatever the price of an once of silver was. If an ounce of silver had a spot price of $10/ounce, which was the approximate value of silver in 1964, a silver certificate could be redeemed back then for 1/10 of an ounce of silver, not an ounce of silver.

          All I was pointing out was that CoG's price of silver was way off. Silver wasn't even close to $32/ounce in 1964 although inflation was so bad in the late 70's and early 80's that silver rose to $110/ounce. A silver certificate that a collector might have had would then have been redeemable for 1/110th of an ounce.

          Even the government is not stupid enough to pay out an ounce of silver in exchange for a single dollar. The point of the silver certificates were that there was, at least supposedly, enough silver stored by the government that everyone could redeem their silver certificates for specie.
          your points are only relevant as backing up what I wrote. It is your comprehension that is lacking.
          So, what?

          believe it!

          Comment

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