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How To Buy Gasoline For 20 Cents A Gallon

March 23, 2012 by  

How To Buy Gasoline For 20 Cents A Gallon
PHOTOS.COM
Dimes, quarters, half dollars and silver dollars minted before 1965 were 90 percent pure silver.

Has the price of gas hit $4 a gallon yet where you live? As I mentioned in last week’s column, several analysts predict that price will seem cheap before the year is out. Are you ready to pay $5 a gallon?

Some neighbors and I were reminiscing recently about how cheap things were back in “the good old days.” I mentioned that the very first credit card I got was for one of the gas-station chains. Back then, gasoline cost less than 25 cents a gallon.

Then I said something that stopped them cold. “Do you know that you can still buy gasoline for about 20 cents a gallon?” They were all positive there was a trick to my question… and there is.

My claim is absolutely, totally, 100 percent true — if you pay with dimes that were minted before 1965.

Back then, dimes, quarters, half dollars and silver dollars were 90 percent pure silver. Today, those coins are commonly referred to as “junk silver.” But believe me, there is nothing junky about them.

These genuine silver coins are typically sold in bags with a face value of $1,000.  If they were all dimes, that would be 10,000 of them. Each bag contains about 712 ounces of silver. A pre-1965 silver dime has about 1/14 of an ounce of silver in it. With silver now around $32 an ounce, one of those “junk silver” dimes is worth about $2.29. Selling two of them would buy you a gallon of gas anywhere in the country.

Remember when a loaf of bread cost 10 cents? Well, one of those silver dimes will still get you one of the fancy fresh-baked loaves in the bakery section of your local grocery store. One of the mass-produced marvels with more air than nutrients will cost half that amount.

My point is simply this: The value of the goods we buy every day hasn’t changed. A loaf of bread is still a loaf of bread — ditto a quart of milk, a gallon of gas or a suit of clothes.

The reason things cost 10 or 20 or 50 times more than they used to isn’t that they are that much more valuable today. It’s that our measuring stick, the U.S. dollar, is worth so much less. Back in our grandparents’ day, the dollar was not only backed by gold, but for most of this country’s existence the U.S. government promised that it could be exchanged for gold at any bank in the Federal system.

The Treasury also produced something called “silver certificates” that operated the same way, except that they could be exchanged for silver. And our government promised to keep enough gold and silver in its reserves to honor all of those commitments.

But that was then. Today, the U.S. dollar is an “I.O.U. nothing,” as a friend of mine likes to put it. Oh, it says it is backed by the “full faith and credit of the United States.” But let me ask you: When you look at the disaster that Washington has made of the budget process and our economy, how much full faith and credit do you have in the people running the show today?

And how much “full faith and credit” do you have in the pieces of fiat currency called the U.S. dollar that they are producing by the trillions? I hope the answer to both of my rhetorical questions is “very little” and “not much.”

Our Founding Fathers knew that gold and silver were real money. That’s why they put into our Constitution that only gold and silver could be used to create our coinage.

Sadly, we’ve allowed the powers that be to create “money” out of thin air, with absolutely nothing to back it. That is why the value of our currency has plummeted more than 95 percent in past 100 years.

But more and more Americans are learning not to put their “full faith and credit” in our politicians or the currency that they manipulate. Want to protect the purchasing power of your savings? Then I’d suggest putting them into things of real value. And for the past 5,000 years, nothing has preserved value better than the Midas metal and its less-expensive sister, silver.

Exchanging dollars for gold and silver could be the best investment you make this year. It certainly has been for the past decade.

Until next time, keep some powder — and some gold and silver — on hand.

–Chip Wood

Chip Wood

is the geopolitical editor of PersonalLiberty.com. He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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  • s c

    You’re right, Chip. Unfortunately, Uncle Scam has other plans for goods and services and what we call “money.”
    When the stuff hits the fan, we may be able to barter for a while, but even that step won’t last long, as Uncle Scam’s anal retentive obsession with absolute power will stop anything that makes sense.
    It will be interesting what Uncle Scam calls “money” a few years from now. I could be wrong, but it will probably double as currency and toilet paper – with a strange knack to be more useful as toilet paper. The least they can do is to put images of current members of Congress and a few others on those ‘greenbacks’ or whatever the ___ they call “money” then. OK, utopian shills and deluded losers, tell us how good life will be when the dollar is extinct and our wannabe government ‘gods’ are saving us from ourselves even more than they are now. It’s free speech time – while it lasts.

    • http://None Warrior

      Correct me if I am wrong!
      Candidate RON PAUL is the only military veteran in the race, and he does stand for our USA not sticking our nose in other countries business, he understands what it would be like to see ones own children in harms way with out even going to congress for approval!

      He has served this country as a doctor in the military, and as a congressman,fighting for our constitutional rights, if you have not served and have not defended the people’s rights for the good of the country how can you fully understand??

      • Ted Crawford

        You’re correct., he is a veteran. However given his time in-country, ’63′-’65′, as well as his branch- Air Force, coupled with his MOS- Doctor, that allowes only respect for having served his country, by no means a small consideration! I, and many, many others owe or lifes to men like him!
        What it doesn’t allow, again given all the above, is that during that time frame America had no active combat role. His branch of service and especially his MOS shows he lacks experience in even tactical strategys, never mind Strategic planning!

      • DaveH

        You are mistaken, Ted, believing that the US military has saved our lives (or our Freedom). More than likely their escapades and interventions around the world have endangered our citizens by creating enemies we likely wouldn’t have had if a Non-Interventionist, Constitution abiding, Freedom Lover like Ron Paul had been in charge.
        Even if 9/11 wasn’t a False Flag, the actions of the terrorists can be attributed to meddling in other countries by our Imperialistic Leaders. Without that meddling, those 3,000 victims of 9/11 would probably still be alive.

      • Dale on the left coast

        DaveH . . . you logic is once again fatally flawed!!!
        Moooslimes have been killing infidels since the 7th century . . . How’s being nice worked out for the Coptic Christians in Egypt?
        These moooslime loons were killing and enslaving Americans at the time of the Second President . . . nothing has changed.

      • DaveH

        My logic is fatally flawed?
        At least there was some logic in my comment, unlike yours.
        The number of Americans killed by Muslims is greatly dwarfed by the number of Muslims killed by Americans.

      • http://gravatar.com/bychoosing Jay

        Dale, don’t be such a racist. History of the middle-east is rife with one invasion after another, and that, from the west-slime, forces . And, of course, it continues! You really should brush-up on your history.

    • Sirian

      “It will be interesting what Uncle Scam calls “money” a few years from now.” – Yes, it will be s c but don’t be surprised if they at least attempt to follow suit of Sweden and go totally “cashless”. Everything will be paid for by swiping either a card or the ObamaCare RFID chip that we will have to have implanted. May sound crazy but it’s on the horizon more than likely.

      • http://katrael.wordpress.com Katrael

        Sirian, you’re right and the day of digital currency is almost fully on us. Could this be a part of what the scriptures warned us about…can’t buy or sell without the “Mark”?

      • http://none Richard Pawley

        Hardly a new idea. The Book of Revelation said it over 1,900 years ago in Chapter 13. Among the many strange things that Jesus’s friend John saw in his vision was a money-less society where all buying and selling would be conducted or kept track of by a mark of some kind IN the hand or the forehead. No one, not even a king, would be able to buy or sell without it and this was tied up somehow with worshipping the world leader. Of course the Bible also tells of the terrible consequences of accepting this mark (or in my opinion, microcomputer) in one’s body. Perhaps this is the reason those who hate life, God, and all that is good, are so anti-Bible. Some reading here have never read the New Testament, the gospels, ACTS or Revelation but reading just those books mentioned could be an eye-opener to those who have a heart to understand.

        Actually there are many reasons why people hate their creator but even ten years ago I was helping in the manufacture of transistors so small you could have several in your hand and not be able to see them!
        This will not likely happen until what I called The Greater Depression in my recently updated 2006 autobiography comes and goes. First we need a world wide collapse and all nations seem to rushing pell mell to create one because it is not just the United States that is creating money out of thin air. Hopefully this time will not be in the life time or anyone now alive as it will be more terrible than any, including this writer can imagine. The point is though that this is the first generation since that was written 1,900 years ago that this IS POSSIBLE. We now have the technology to bring it about.

        As we move towards a money-less society many things will change but God rejects no one who turns to him with a truly repentant heart, which is what the New Testament, the gospels, ACTS and Revelation is all about. Those who knowingly hate God and are trying to bring about a dark and evil empire will continue to say and do that which will lead mankind into the darkness. All the politically correct, and social justice, and “fairness doctrine” and on and on will ultimately help no one and is being used to usher us in, slowly, but with increasing fervor, to the one world government mentioned in the Book of Revelation.

        Not this year, not next, but so much is going on that only those who have a dynamic relationship with God and can actually pray and ask and receive and KNOW what is best, will be able to make it through even the very hard times that are coming, and this is not even close to the end of the end times mentioned in the Bible.

        Chapter four of my last 2009 book, has a chapter heading “Gasoline or Milk, $10 a Gallon” and that may have been a bit low on gas as one think tank came out a year or so ago and said based on all their analysis that gasoline was going to go to $11 a gallon. We know the current administration said a few years ago they wanted it to go to $8 a gallon like in Europe although they seem to forget that the countries in Europe are only as big as some of our states and the idea of driving 100 miles a day as I did in Connecticut for several years or 120 miles a day as one of my brothers does in South Carolina would be extremely expensive as it is getting to be here. What is ludicrous is that we are have been told our President is trying to get our electricity rates “to necessarily skyrocket” and at the same time wants us to buy electric vehicles so we can pay those high rates!!!

        Once the Great Depression began the Progressives of that age started raising tariffs on foreign goods and those nations retaliated and trade wars began and while the whole world was more or less in Depression only here was it a Great Depression lasting until WWII ended. I see that we have recently begun to charge a small tariff of a few percent on Chinese solar cells so perhaps as some have said elsewhere on this site the Greater Depression has already begun. It is going to be interesting so save your silver coins but don’t forget to stock up on things that won’t go bad in a cool dry place like coffee and sugar and whatever you use. By the way if you go to Honeyvillegrain.com and use the code word BLOOM in ordering for the next few days you can buy dehydrated or freeze dried foods that will last a decade or two and you can get a 15% discount on all you buy until Tuesday afternoon. They have only been having a 15% sale about once a year and some is better than none.

        As gasoline goes up in price so will food as it has to be shipped an average of over a thousand miles in this big country and even in European countries which are smaller (but gas is over $8 a gallon) food costs more than here, so along with your silver coins think about buying some Heirloom seeds that reproduce the way God and nature intended and plant a garden if you can. No matter who our president is in 8 months things are not going to return to where they were for a very long time because we simply owe to much and are spending to much, and this will continue to cause inflation. That is just the way things are and politics can’t change the laws of physics or the economic laws either. The numbers may change and that will confuse some but big time inflation IS coming and you ignore that at your own peril. Gold and silver and platinum have already tripled, gas and oil have doubled and food is beginning to do the same. Houses not so much but I remain convinced that food is still going to triple as the real crisis begins to unfold. This will increase as long as our debt keeps increasing. Pray about everything. May God help us because soon He will be the only one who can.

      • http://katrael.wordpress.com Katrael

        Richard Pawley, First, I agree with much of what you say. But, actually the “progressive age” had it’s beginning before the flood and was brought through it by Ham which went to get a real foothold in those two evil cities. The current phase of the progressive age got it’s most recent start back in the 1840′s with the introduction of the modern philosophy that divorces morality from a creator to one centered around history. I forget what it was called but it got it’s toe hold in the educational system where it’s been brewing ever since and the children of the time started to be indoctrinated by it. Now our whole society is eaten up this bogus philosophy.
        Money from thin air? Well, not really since it’s a currency that we use now and the government doesn’t make it the federal reserve does and it “loans” it out to the corporate government at whatever rental rates it desires. Our corporate government has to pay rent on those “Current federal reserve notes” as long as they are in circulation. Your point is valid that it has only now become possible for our corporate government to keep track of us through technology in a way that was never before possible It’ll be just as easy for them to keep track of those who don’t take the technology because they’ll stand out from those who are “tied in” to the system and it looks as if most people are opting in.

    • http://www.facebook.com/WizardKiller Mark Are Reynolds

      It is sure sad to see this type of a response from an “American” from the land of the so called free and so called brave. I mean serioiusly, how pitiful can you be? There will be a point where the straw will break the camels back and then “they” will find 10,000 to one odds against them as the masses swamp over them like a bad plague with torches and pitchforks. And then we will use SOMETHING for money besides a fiction created out of thin air. WE just need to have some sense and quit using THEIR psychological money…

      “”The writers of the constitution knew exactly what they were doing when they wrote in Article I Section 10 paragraph 1 ‘No state shall… make anything but gold and silver coin a tender in payment of debts. ‘ People able to barter with gold and silver coin control government and are free. Loss of the right to trade in gold and silver coin enslaves people to the creators of psychological ‘money.’”:
      -Merrill Jenkins, Sr.,
      Money – The Greatest Hoax on Earth”

    • ladybug

      http://www.petition2congress.c

      Go to this website and sign the petition to vet Obama and check into his eligibility to be president. The lame stream media never vetted him in 08 and neither did congress.

      • http://katrael.wordpress.com Katrael

        Ladybug, our congress didn’t want to vet him. They are all a part of the plan of which Obama is only a part. I like your choice of word: “vetted”.

    • James

      What our money will be called is: ‘Amero.’ This was negoatiated by President Bush and the heads of the canadian and mexican goverments. The idea was suggested by the European amalgamation and its ‘ECU” currency. Only the collapse of the stock market, and its effects, postponed that. The dollar is now losing its value rapidly, and eventually it will be replaced with the Amero.

      • vicki

        And what will keep the Amero from losing value?

      • James

        Nothing. It will become worthless just as all paper currencies do. After the Amero, the currency will probably be the Mark of the Beast. It wont be paper though, it’ll be an embedded electronic chip.

    • Old Henry

      Currency toilet paper? Hmmmm. How ’bout a $3 bill with Little Barry’s picture on it.

      And…. speaking of Little Barry the fraud:

      http://www.westernjournalism.com/obama-whos-your-daddy/?utm_source=Western+Journalism&utm_campaign=3b7927f63b-RSS_EMAIL_CAMPAIGN&utm_medium=email

      It hits the nail on the head and is a hoot at the same time!

    • George W. Bush

      I have to admit, I’m still dumb founded at the way the people of this country talk about themselves. This is a country ruled “of the people, by the people, for the people.” I think the first thing you must ask yourself is “was I restricted from voting and selecting a representative?” The second question for yourself if you could vote should be “why was I stupid enough to be a Party Puppet and elect the same party over and over again and expect different results (my personal observation, Conservatives have been the worst)?” We have not had one conservative live up to his word since before Coolidge.
      This gold versus money argument too is pointless. Why, it suffers the same fatal flaw money has, the pile can grow. Just as money can be printed more gold can be pulled from the earth. But it has an additional flaw, as a precious metal it is needed in the production of electronics, jewelry and other stuff we consume. Because mining and consumption would be uncontrollable, making a determination as to the actual value impossible. It would be chaotic and severely hinder progress!
      I would strongly urge the sheep that listen to the gold standard shepherd to really thing about what those crazies are signing us up for. There is no magic bullet even though they would like you to think it the solution. The truth is they are probably invested in such a way that if they can get enough sheep on board they can get politicians to make a fatal change that they alone will profit by.

      • DaveH

        Yeah right, Flashman.

      • DaveH

        Seek help.

  • Willie

    S.C.- When they put an end to bartering , it will be an end to them. A revolution(a bloody one) will most likely ensue. I would love to see the look on the narcissistic gov. elite when their s**t hits the fan.

    • Vigilant

      You have a point. My guess is that two things would happen when the balloon goes up.

      (1) Bartering would be made illegal (and I think that law may already be on the books), thanks to the FDA, and foodstuffs may as well be appropriated by the gov’t.

      (2) They would no doubt “pull an FDR” and confiscate your precious metal holdings.

      So those fat, dumb and happy folks sitting on their mountain of gold who believe they are secure, will be in for a rude awakening.

      A hidden cache of water, food, heirloom seeds, weapons and ammo, those will be the guarantors of survival.

      • http://DWFields.com David

        “Heirloom seeds.” And how will you farm those seeds with only food, water and weapons? You seem to be far short on the necessities. Will you use a tractor or tiller? You’ll need a fuel supply. Will you use a horse and single-blade plow? Do you have them? What about the labor to maintain that bit of farming while you’re also trying to defend it?

        No, I’m not saying you have a bad idea. What I am saying is that you’d better have everything–and I do mean everything–ready when or if that day ever comes. You can’t wait until the last minute and say, “Oh, I still need this and that!” It’s already too late when that happens.

      • Lray

        NYC has already got the law on it’s books by making it illegal to donate food directly to the needy by individuals thanks to Bloomberg slipping it to those sleeping city dwellers.

      • Vigilant

        David, I agree as to the preparedness aspect. For my own needs, I don’t require more than the 50 ft x 70 ft. garden I have in my back yard. I use a tiller, but the area and soil tilth is sufficent such that I do not need a tractor, Spade and fork are sufficient.

        One drilled well and two dug wells are close at hand. I’m learning to can foods.

        I admit that I may be better prepared than most, since I’ve farmed or gardened most of my life, and I’m familiar with the ropes. Defending the property is another thing altogether. My sons and I would have to take turns.

      • vicki

        Vigilant says:

        (2) They would no doubt “pull an FDR” and confiscate your precious metal holdings.

        I strongly suspect that the precious metals that they will (try to) confiscate will include lead, brass and steel. I am not sure which order they will choose.

      • Vigilant

        Good point vicki.

    • http://www.mototcarsfinancial.com Brad

      They dont care because they have already stolen all the money they can get their greedy hands on, from the tax payers with their slick ways and invested it in Gold and silver.

  • Kevin Beck

    The other thing that most people don’t realize (about changing the measuring stick) is that most of them measure their wealth in those same soon-to-be-worthless dollars. I would be willing to sit across the table from Benny Bernanke and Little Timmy Geithner, swapping out my currency units for gold and silver all day long. After all, if they want to defend the currency, that would be the best way for them to do it.

    • Warrior

      The Quote of the Decade!

      > “The fact that we are here today to debate
      > raising America ‘s debt limit is a sign of leadership failure. It is a
      > sign that the US Government cannot pay its own bills. It is a sign that we
      > now depend on ongoing financial assistance from foreign countries to
      > finance our Government’s reckless fiscal policies. Increasing America ‘s
      > debt weakens us domestically and internationally. Leadership means that,
      > the buck stops here.’ Instead, Washington is shifting the burden of bad
      > choices today onto the backs of our children and grandchildren. America
      > has a debt problem and a failure of leadership. Americans deserve better.”

      > ~ Senator Barack H. Obama, March 2006!

      • Vigilant

        And this was the guy who called Bush “unpatriotic” for deficit spending.

        If that Obama speech is on video, it would be a most effective campaign coup for the Repubs to use.

      • CJ

        Vigilant, I think it’s safe to assume that both parties are joined against us. They know a video exists, but won’t use it. Neither has our true best interest in mind.

      • http://None Atachafalaya country

        Sorry I walked on you by using your name Warrior, I am new at this

      • http://www.mototcarsfinancial.com Brad

        You will notice as you read the replies way down this blog insertionthere are no libral reuttals like there are in any of the normal comments on this discussions trying to bash conservitives on this matter. Because they are stammering to fing anything intellegent to say. The liberals have distroyed this nation with their robin hood ways.

  • Edward Elmer

    Absolutely correct and brilliant! About 90 years ago my Dad’s TOTAL college bill was $4000 (my Dad was much older when he had me). That was 1922 dollars, back in the bimetallic standard days. SInce then, the dollar has lost value about 80 to 1 (if you use the gold standard) or 30 to 1 (silver standard). Split the difference and call it 55 to 1. That means Dad’s tuition would be $220,000 today, which is actually MORE than my son’s current private college tuition! The same is actually true of gas prices – they have gone DOWN in real money terms. The problem is the insidious tax known as debasement of the currency.

    • Mike W.

      Ed, I grauduated from a private college here in Ohio back in 1976.
      Four years cost me about $13,000. Gold was around $35 an ounce during that era and in 1974 Americans could once again own that precious metal without impunity. It would have required about 372 ounces of gold to finance my education for that four year period. The price of gold remained stable up until the late ’70′s.
      In 2012, four years at my alma mater is going to cost around $200,000, including the now required laptop! At this moment in time, an ounce of gold is about $1,650. Let’s do some simple arithmetic: $200k/$1650=121 ounces of gold. Still a good value after 35+ years. The education you receive is another matter!
      A great analogy of real vs. fiat money.

  • Deerinwater

    Nice entry Chip!

    Well done.

  • CJ

    This is the historical process of our government. First they took the land from the Indians and ‘gave’ it to settlers to extract the raw materials, then they were taxed out of it. Next the government conned them into turning over the gold and silver, and gave silver or gold certificates in return (claiming you can exchange it at any time). Then they said ‘we’ll keep the materials, but your certificate won’t get it back any more’ and issued Federal Reserve Notes. Now they print those hand over fist running down the value of each, as there’s nothing tangable to anchor it to. Once they’ve devalued it to the point of toilet paper, they’ve got you. They have little left to take, so now they are working on our actual lives, under the guise of ‘health care’.

    When you look at the bigger picture, you see the government is NOT to be trusted for ANYTHING!

    • Edward Elmer

      Patrick Henry and the other Anti-Federalists have been proved right.

    • donald

      Congress is a criminal eterprise.

  • Edward Elmer

    Incidentally, my Dad was also a Law Enforcement officer. That’s right, he enforced Gresham’s Law! In 1964-1965 he ran around like a nut and started buying “junk” silver from the banks. One of the best financial decisions he ever made!

  • KG

    It’s true. Metals have retained their relative value over the generations they have been used. However, the main reason why we don’t have a “metal standard” for money is because of the logistical nightmare that would result in physically trading all of that metal. Before the arrival of our present “in God we trust” money, it was common to have an extreme imbalance of gold reserves. If we bought good from, say Germany, we would have to ship a certain amount of physical Gold to Germany. Then we would be short of actual Gold to keep trading. And then, eventually some of that gold would come back in the form of purchased US made goods. So, instead of having all these boats floating past each other in the night, some smart person realized that not everyone would demand Gold while the trades were taking place. So instead of passing real gold back and forth, we pass warehouse receipts, or “money” in the form of credit based on the “full faith and credit” of the parties involved. See? It’s not an evil scheme done by “the govment’”.

    I feel sorry for all of you “metalers” out there who think that hoarding precious metals is going to “help” you. If the “Stuff” really does hit the fan, you metalers will be having a hard time running out of town with a hundred pound load strapped to your back. The so called “Golden Hoarde” will pick you off just for fun. And then feed your bloated carcasses to their dogs. Cause they will have the true commodity that you need but hate. They have “Community”.

    “…from each according to his ability, to each according to his need” or, in other words “Do unto others as you would have them do unto you.”

    KG

    • Edward Elmer

      I’m afraid you are delusional, sir. In a functioning gold standard, it’s not necessary to lug around the physical gold. All that’s required is that the government back the currency with gold or silver and maintain free exchange of the currency for gold or silver on demand. Foreign trade becomes a matter of moving gold around in the NY Federal Reserve vault, from one country’s vault to the other. The problem comes when the government un-links the currency from REAL money (gold or silver) in order to debase the currency, extract an invisible tax, and go one a big one-time spending spree, until the INEVITABLE crash comes. See the history of Rome, Weimar Germany, Argentina, and now, the United States.

      • CJ

        It actually wont’ involve ANY movement… other than the pen of an accountant (granted now it’s an entry in a computer). It’s what the Fed has been doing for a long time. The money goes nowhere, it just gets credited to another account. Moving it is a needless expense.

      • KG

        Nobody complained about that when the Soviet Union was threatening nuclear war. So we spent billions of “stolen” dollars to pay for missile defense and ICBM silos. It’s OK to do that, but don’t use a penny of my money to feed hungry people.

        Besides, all of you metalers can eat bars of god if you get hungry – right?

        We need community more than commodities.
        We need Love.

        “Siempre Revolution” Che Guevera

      • CJ

        KG, I’m willing to wager ANYBODY would prefer to carry around 10 pounds of gold, than haul the thousands of pounds of food and fuel it would buy. Good luck surviving long on that ‘community luv’ too.

      • Mark in LA

        No Edward you are delusional. If the French don’t actually take delivery of “their” gold, then they don’t have it, do they?. In that case they won’t be able to buy things from countries who aren’t part of this “let the Americans hold all the gold scheme”. So yes, if you run a trade imbalance you will eventually lose all your gold and the other guy will have it.

        This was what made Nixon take us off the gold standard. The French were demanding gold at the official rate and Nixon could see where it was going. You don’t really have a gold standard unless someone can actually take delivery of his gold.

        One thing that is equally delusional about the gold bug is the view that society will be so chaotic and disorganized that the US dollar will be worthless. Why even the Army and martial law will not restore order so that greenbacks will be used. However, in all this chaos, people will still exchange their gold for things they needs in a neat, safe, and orderly fashion.

      • DaveH

        No, Mark in LA, you are Delusional.
        The nerve of the French for wanting real money (Gold) from the US instead of that worthless Fiat Money which can be printed at will to steal silently from the people.
        Why would our Government worry about losing Gold to the French, Mark, if it is delusional to own Gold?
        It seems that you are either completely ignorant, Mark, or you are feeding at the trough and spreading Propaganda in the hopes that other ignorant people will buy your tripe and not upset your apple cart.

      • DaveH

        For those who are tired of being spoon-fed fabricated facts by Liberal Propagandists:
        http://mises.org/books/case_100_percent_gold_rothbard.pdf

    • CJ

      Your point avoids a simple fact, it’s not to avoid the inconvenience of the weight of metal, it’s that hauling it will be the only alternative to hauling all the extranous stuff they bartered for. Currency is ONLY a convenience item to a means. When the creditibility of the existing currency is gone, people will embrace the next best alternative… precious metals.

      • John

        Nope, people will barter labor and items for food and services. I would not even give you one of my potatoes for all the gold you bring. Neither would any of my neighbors.You would be welcome to work for it, if there is any work to be done, I would welcome you to barter items I may need, but one thing I do not need…and what a lot of people will not need is gold or silver.

      • DaveH

        Precious metals aren’t just the “next best”, CJ. They are THE BEST form of money, having a value of their own and being easily divisible into smaller units which provide an almost inflation-free form of exchange, only affected by an increase in supply which must be laboriously mined from the Earth. See the series Gold Rush to get a feel for the reality of Gold Mining.
        Hard Money is anathema for those Leaders and Elites who aspire to steal from the citizens by making their saved money worth less. Before paper money, they had to do such detectable things as shorting the percentage of precious metals in their coins. Now they don’t even have to run the printing presses — they just create money digitally making the rest of our dollars worth less.

      • DaveH

        The ignorance of Liberals never ceases to amaze me.
        The concept of Money came into existence because even primitive people realized the inefficiencies that were created by barter. Person A might want to trade a widget for food, but the farmer might have no interest in A’s widget, so A would go without that food, unless he could find a farmer who has interest in his widget (or he could act like a Liberal and Steal the farmer’s food). The creation of Money allowed A to trade something easily divisible into smaller units and desirable by the bulk of people, so that A could trade the farmer Money for his food, which the farmer could then trade easily to person B for something the farmer DID desire.
        Many different items were used as money by different cultures over the centuries, but the most naturally desirable form of money evolved to be Gold or Silver.

      • DaveH

        The above comment was addressed to John.

    • Willie

      KG, we can exchange the metals for the ‘worthless’ paper currency. Then we can take the paper currency to the store in a wheelbarrow and buy a loaf of bread for 1 million dollars, or when we get our paycheck we can run to the store and buy some food before it devaluates even more when we are on the way to the store. That sounds like fun doesn’t it? like they did in the Weimar republic. Or Zimbabwe.

      • jimmy the greek

        And in Germany it took a strong leader and national socialists and the shutting down of the zionist owned central bank and Germany was in great shape within three years of doing that .

      • Nadzieja Batki

        What a price was paid for a full stomach and an empty brain.

    • Steve E

      At least you would have something to wipe with.

    • http://www.mototcarsfinancial.com Brad

      KG there is no longer the gold standard. You are missing the concept completely.

    • GRUMPY

      From each, to each etc……MARKSIST quote !!!!! you COMMIE TWIT….

    • DaveH

      KG, another “compassionate” Socialist reveals his true colors. His “compassion” stops where our wallets begin.
      And what’s this? KG compares the Communist Slogan “from each according to his ability, to each according to his need” to the Golden Rule “Do unto others as you would have them do unto you”?
      KG would “do unto” us the vicious tyranny that is required to strip people of their hard-earned wealth in order to redistribute it to those who did NOTHING for it?
      Of course the result of that always has been and always will be — Impoverishment for the citizens.
      Why doesn’t that surprise me coming from a Liberal?

    • Vicki

      KG writes

      “…from each according to his ability, to each according to his need”

      I don’t think that soundbyte means what you think it means. From each according to his ability means whatever he can do that needs doing. To each according to his need means JUST food (gruel will do), water (optionally clean), protection from the elements. Small cage in small cave will work fine. (Air provided by God)

      This is not community this is the credo of the slave and slave masters.

      The US even had a community that tried it. It failed miserably.
      http://www.thinking-catholic-strategic-center.com/Colonial-Communism.html

      • kg

        I think you are all nuts, except for the people that agree with me.

  • http://www.facebook.com/jcjaming James Carl Davis

    I have not learned anything new from this reading. How to exchange 2 silver dimes for a gallon of gass is my question.Its not legal to buy anything with silver as currency. If you sell the dimes for cash you lose most of its original value.Taxes,and fees attached to ebay.
    So whats the answer? How to buy a gallon of gass with two silver dimes?

    • Steve E

      You can trade of those dimes for over $2 each, and then use the cash to buy a gallon of gas.

    • CJ

      Pre ’64 coins are still legal tender. Their intrinsic value is worth more than the face, so people don’t use them daily (if they’re smart anyway). If you still have two silver dimes, you sell them for $2.50 each, then go buy your gas with the worthless paper you got in exchange. Copper will soon be the same way. It supposedly cost about 2.5 cents to make a penny and about 7 to make a nickle. In ’82 pennies went the same way as dimes and quarters in ’64. Nickles had silver only during WW II, when nickle was in short supply.

      • CJ

        OOPS, left off my closing comment!… Since nickles didn’t have silver in ’64, that’s why you will still find them in your change today!!

      • Ted Crawford

        It seems I’ve heard somewhere that in 1943 on of our coins, I believe it was the dime, contained no precious metals at all.

      • CJ

        Ted, the only change in dimes about that time was in ’46 when it changed from the Mercury to Roosevelt dime. All coins are a ‘blend’ to make them harder. The ratio mixture had a major change in ’64 for dimes, quarters and halves (dollars took a break from ’35 to ’71). Since ’64 ‘circulated’ silver coins have been a blend of copper and nickel.

      • DaveH

        Pick up a copy of this book, Ted, if you want to learn the content of our coins:
        http://www.amazon.com/2012-Guide-United-States-Coins/dp/0794833470/ref=sr_1_1?ie=UTF8&qid=1332521915&sr=8-1

    • MNIce

      You can also sell the coins directly to the people running the gas station, then give them the FeRNs for the gas. In a less formal transaction, exchanging junk silver for goods or service is “barter.” For example, if I charge 55 FeRNs per hour for my skilled labor, I may take $1.85 face value in silver coins instead.

  • http://DWFields.com David

    Don’t forget: It was Richard Nixon that took us off of that gold standard back in the early ’70s.

    • Ted Crawford

      I remember it well David. When I returned to Viet Nam my Silver Certificates were exchanged for MPC, paper 50, 20, 10, and 5 cent bills, just like before. When I returned home, unlike before, I was handed Federal Reserve Notes in exchange for my MPC.

    • jimmy the greek

      Yes however the neocons don’t like to talk about that LOL

      • Ted Crawford

        For a Progressive, or even a Liberal to compare themselves or their champion to Nixon or Bush ’43′ is setting the standards pretty low don’t you think? It’s much like a Conservative comparing themselves to Carter or Obama!
        Let’s all try to aim a tad higher!

    • http://www.mototcarsfinancial.com Brad

      OK Nixon was an idiot! And….?

      • MNIce

        No, Nixon was quite shrewd, at least in the short term. This was in direct response to the French demand for physical gold, which would have cleaned out our reserves. He simply made official what had been going on since the Federal Reserve Act was signed: the Fed had been printing more currency than there was metal coming in for backing, and it was no longer possible to back it with gold or silver at the official rate.

        This is the flaw in traditional commodity-backed currency: sooner or later, somebody starts cheating by printing extra notes based on futures rather than actual metal on hand, or on the bet that there won’t be a demand for simultaneous redemption of all the notes. Nixon realized that the Fed had been caught cheating, and the Treasury could not cover for it.

        From the time the Constitution went into effect until the Civil War, the United States avoided currency because it is unreliable as a measure of value. The inflation and economic misery during the Articles of Confederation gave rise to the phrase, “Not worth a Continental” in reference to the valueless paper Continental dollar. We could learn from that example.

    • DaveH

      That’s what we’ve been trying to tell you Liberals for a long time, David. It isn’t a Party thing — It’s a Leadership thing. The natural inclination for Leaders is to take advantage of the rest of us. And they will do it as long as we remain apathetic and ignorant.

  • Ted Crawford

    The problem one encounters with the purchase of Gold, is that when attempting to buy it in small enough increments of Gold coinage, we are hit with a $200+ premium! I’m certain that coinage will be necessary, given the simple fact that they are sure at some point to make the ownership of bulk Gold, once again illegal for the private citizen!
    The most readily available, nonpremium, Gold Coin seems to be the South African Kruggrand. At a weight of one ounce, that means that when Gold becomes the standard instrurment of purchase, it will probably do well when buying the weekly grocerys for a family of four. What, then would one use to buy the odd loaf of bread or gallion of milk?

    • CJ

      ‘Coinage’ is just to assure the true content and weight for consistancy. You can purchase silver ‘coins’ that are scored so you can ‘make change’ for fractional purchases. This way you can use the gold for the larger value purchases and silver for the smaller.

      • Ted Crawford

        Thanks for the information CJ.
        My post was really just a weak attempt to inject a little humor into a completely disheartening situation!

      • CJ

        Humor or not, your concern was valid, and there are people out there thinking about how to deal with the pending problem caused by a greedy government playing on the created dependence of a nieve (and somewhat lazy) populace. Those who won’t learn to fend for themselves will become slaves of ‘the deceptive master’ who ‘governs’ them.

      • powell

        Thanks for some like thinking, was beginning to feel I made an error in my purchase of scored 1 oz bars and thinking I should have gotten coins instead. I feel it is too late for me to jump on the gold wagon at current costs as I think my silver is out preforming as it finds it;s correction of a 16-1 ratio.

        psch

    • Sirian

      Buy one ounce bullion gold Ted, the premium charge isn’t as high on bullion and it’s easier actually than coins. Spot price for bullion is the same as spot price for coins – gold is gold – but the additional premium price tacked on for coins isn’t. Once things get really bad, who’s really going to give a rats *ss if it’s a coin or an ounce of bullion? Gold is gold, simple as that.

      • DaveH

        There’s a trust issue with bullion, and a resultant assay fee possibly.

      • DaveH

        From http://bullion.nwtmint.com/sellingbullion.php

        “Right of Inspection and Assay / Right of Rejection. We reserve the right to inspect and verify delivered items for conformity with our packaging guidelines and the order before payment shall become due. Said right of inspection shall include the right to assay any items for purity of metal. If we determine that any items are unacceptable for any reason, including packaging that is damaged or defective, items that are not as represented to us by the seller, or items that are damaged or worn in excess of industry-accepted standards, we reserve the right to reject all such unacceptable items, and may thereafter change, modify or cancel and liquidate any portion of the order as provided herein, in whole or in part. We shall notify Seller of any such rejection and any change, modification or cancellation and liquidation of any order. Seller shall be liable for any and all inspection and assay fees and related costs, and we may deduct such fees and costs from the total payment due to Seller. Any rejected items will be returned to the seller”.

    • someone

      When that occurs, the option of small purchases will not even exist. Without paper money, it is very unlikely small stores would be in business. You will need to bake your own bread, milk your own cow, or barter with someone who has these commodities. The entire landscape will be totally changed, and unrecognisable. There will be no business as usual.

      • DaveH

        In Free Markets with hard money, there could be money warehouses (banks) which would store the precious metals and issue easily traded certificates which would be converted into gold upon demand by the holder of the certificates.

      • DaveH

        In fact there is absolutely no need for Government to issue our money. Their sole legitimate involvement should be to punish those banks who fraudulently issued certificates which weren’t really covered by gold in their possession.
        In fact, throughout our country’s history, the Government has instead come to the aid of those banks which issued more certificates than were actually covered by gold (or silver).
        Read this to learn more:
        http://mises.org/Books/historyofmoney.pdf

        As Jefferson said “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs”

        • http://katrael.wordpress.com Katrael

          DaveH, I’ve just been reading the comments and couldn’t help but respond to yours. We live in a country controlled by a corporate entity to which we all have contracts. We all have social security numbers and fictitious names on a card that we don’t own but we merely hold in trust. Our parents sold us out the this corporate entity that is owned by the IMF. My opinion as I’m still doing research.
          You’re right about us taking back our responsibility to control the issuing of coinage. We also need to return to the constitutional method first given to us of electing Senators and we need to begin to tell the government what to do and not the other way around.

  • DavidL

    Good piece, Chip. When I bought my first home I paid $62,250. When I sold it,26 years later, I sold it for $873,000. Of course, it wasn’t worth that much, but I put the money in the bank anyway.

  • Sirian

    Chip,
    You’re right for sure – stock up on “junk” dimes, nickels, quarters and halves. No telling what they will be worth after November.

  • Chester

    I am so glad to see some people on here actually making sense for a change. They admit that all that solid gold and silver won’t be worth its weight in grain or fuel when the flag does go up. Until then, all you who so desperately believe metal is the only way to go, keep on buying. Just remember, you are helping someone else set up their emergency store room that doesn’t contain gold and silver.

  • Raggs

    We have a totally WORTHLESS ( so-called pres ) so how can you respect the value of our currency?

  • FreedomFighter

    Looks to me like the hottest investment today is:

    Bullets

    Forget cash, forget stocks get bullets.

    Hell the government is buying them up by the ton. Many think as the government does, let them buy gold, food and other goods, we will get bullets and use them to take thier stuff.

    Laus Deo
    Semper Fi

    • Ted Crawford

      I allready posses all the bullits I’ll survive long enough to use, should the conditions degenerate to the level you imply! I harbor no foolish idea that I would long survive there, nor for that matter, any desire too! Perhaps conditions akin to those depicted in the movie Postman . Forget it I’m not interested!
      Perhaps, for the first time i really understand what Winston Churchill described here; “…You may have to fight when there is no chance of victory, because it is better to perish than to live as slaves”, That’s the tail end of a very sound quote should you care to google it!

      • FreedomFighter

        Yes it is better to fight than be a slave that will die anyways, usually in a most nasty way.

        But like that Russian guy said, if we kill enough of them as they come for us, they will hard pressed to find more troops willing to do so.

        Laus Deo
        Semper Fi

    • Walt

      Yes, it seems that Uncle Scam is stocking up:

      “ATK announced that it is being awarded an Indefinite Delivery, Indefinite Quantity (IDIQ) agreement from the Department of Homeland Security, U.S. Immigration and Customs Enforcement (DHS, ICE) for .40 caliber ammunition. This contract features a base of 12 months, includes four option years, and will have a maximum volume of 450 million rounds.”

      “ATK was the incumbent and won the contract with its HST bullet, which has proven itself in the field. The special hollow point effectively passes through a variety of barriers and holds its jacket in the toughest conditions. HST is engineered for 100-percent weight retention, limits collateral damage, and avoids over-penetration.”

      Seems like a lot of ammunition for target practice, especially since the HST ammo being purchased is a custom and expensive round.

  • AllThatGloom

    The author is wrong – actually, the silver content in a 1964 dime is worth more than $2.50!

    But is it all that gloomy? Will a gold standard really make it all better?

    A little digging (wasted a half hour on this!), shows that in 1964, we probably spent about 5.15% of average income on gasoline. As of February, 2012, this figure rose to….. 2.82%.

    That’s right, we now spend a little more than half as much for gas, as a percentage of our income.

    So much for the fear argument. Living in 2012 is at a much higher standard than it was in 1964. (Unless you were enjoying the intrinsic value of pumping $20′s into your 1964 1/2 Mustang – so fun to drive!)

    Assumption:
    11,000 miles driven per year

    Sources:
    Bureau of Labor Statistics (2012 wage information)
    Social Security Administration (1964 wage index)
    1960sflashback.com (for 1060 average gas price of $0.30/gal)
    Lawrence Berkeley Laboratory (average 1964 passenger car mileage)
    Bureau of Transportation Statistics (average 2010 passenger car mileage)

    Unless you subscribe to the Austrian school – considered heterodox and largely discredited by most economists – the gold standard is neither desirable nor practical. See the recent lectures by Bernanke, speaking to Georgetown students. It’s available in the C-SPAN video library. You may or may not agree with him in the end, but do consider what he points out and do some digging to verify before you vilify.

    • AllThatGloom

      Typo alert – $0.30/gallon is the 1964 price for gas, not the 1060 price!

      The 1964 wage index was $4,576.32 per year, versus $41,673.83 in 2010 (pretty stagnant since then). So, is it better to spend $0.30/gal with a $4,500 salary or to pay $4/gal on a $42,000 salary? Yes, the gas is somewhat more expensive even in real terms, but the mileage is so much better, thanks to the CAFE standards and consumer demand.

      • Vicki

        You need to add the unemployment rate calculations to your assumptions. Sure if you are getting 42k a year $4 gal not so bad. If you are unemployed or retired now vs then you are likely far worse off.

    • AllThatGloom

      The Bernanke lectures took place at George Washington University (not Georgetown as I indicated).

  • dan

    in 1970′s the French began a run on Ft.Knox gold….that’s why Nixon had to close the window….but inflation was already underway to the tune of 10% per year …helped pay for
    wars/police actions and such.
    the gold to silver ratio is set Constitutionally at 1:16 so if gold is at $1650 then silver is
    REALLY worth $103 an ounce or about $!0 for that dime.
    A Roman soldier was paid a silver dime a day to risk his life for the glory of his Republic.

    • Walt

      Checking out the math….if gold is at $1650 & the historical ratio of gold/silver is 16:1, then at that ratio, silver would be priced at $103/ounce. That part is correct!

      Since a silver dime contains 1/14 of a silver ounce, then $103/14 would equal $7.35. However, since silver is floating around $31/ounce, then a dime’s current value today would be $2.21…not $7.35 or $10.00.

      Based on the historical ratio, it would seem silver has considerable upside potential between its current price and its historical ratio of value to gold.

      • DaveH

        Historic ratios are just that — historic.
        The only way we could know the true value ratio of Gold to Silver would be to let them trade on Free Markets and see where the dust settles.

  • Loren

    So aside from the usual banter, any real solutions? I think we are just waiting for the results we all know is coming. Good luck with the breakdown.

    • FreedomFighter

      Buy bullets, guns, body armor, night vision.

      Buy non-GMO seeds, longterm food storage, water purification and storage, alternate heat and cooking devices and get used to not having electricity.

      For your entertainment listen to this guy…archive

      http://soundwaves2000.com/survive2thrive/

      Laus Deo
      Semper Fi

      • noel

        plata tambien…it is the true currency…makes a fine bullet as well… hell, who knows, may need to take down some werewolves from the d.c. area someday!!!)))
        OBAMANOS!!!

  • Steve

    I presume we are all god fearing Americans here. If that is wrong then just ignore these comments.
    The way I see it is do what you can to prepare and the more you do the better off you will be. Put in your stores encourage your neighbors to do the same and be willing to share. Ultimately as I read the scripture the only ones who will survive will do so because they are prepared spiritually. So don’t forget that.
    This war is not about democrats and republicans. It is about Ideas and precepts. It is the same thing we have seen through out history. It is about good and evil. Christ and Satan with one important difference.
    At least I think this time it is the end of the game. No amount of planning can change or offset what is coming it is set in motion it has been prophesied and there has to be accountability and justice. Yes there will be blood in the streets shortly. It will be there because everyone thinks they have the answers and will kill or die to get what they think they need when they find out they don’t. We see it all over the world when a catastrophe happens. Look at the mess after Katrina.
    In the final analysis we all become accountable to our creator. As such I think it matters little if we live 20 years or 100 years in this life. It matters more how we lived and what we did with our time, and how we served and how we treated those we came in contact with.
    Consider this. Think of Gods laws, the Ten Commandments. Draw a line down the center of a piece of paper and list them on the left of the page. Now list the opposites we see on the right side of the page. One of them is thou shall not kill. The opposite is Kill your neighbor for his food. Or Kill the innocent babe in the womb. It goes on and on.
    How about thou shall not covet? Why then do we worry about how much some one else is paying in taxes, or if he has a lot of gold stored. What good is money anyway?
    Point is, prepare, be where you need to be with God and do what you can on your own. Have some faith, listen for his voice and He will preserve you as his warrior. They are his laws and they have there own rewards. Mans laws mean very little. He did create this existence as a trying experience for us. Trusting him is the answer.
    If enough of us were there he would cleanse this land for us. All we would have to do is ask in faith.

  • jopa

    Ted Crawford;I believe the coin that you have heard about being of little value was the 1943 penny.Copper was in big demand for the war effort so the pennies were made of zinc coated steel.There may be up to 40 1943 pennies in existence today minted by mistake and are worth anywhere from ten to one hundred thousand dollars.

  • jopa

    Ted ; The rare valuable ones were made of copper(about 40).Some copper had been left over in the dies during production start-up.

  • noel

    OBAMANOS!!!

  • David

    Unbelievable! Not the message as it is so true. I went to the bank today to get a loan and of course they wanted some sort of collateral, so I told them I have some gold coins – AND they would NOT ACCEPT them!

    However, they would accept – cars, boats, houses, so long as they could put a lien against it.

    What a bunch of bags of s***!

    Gold has only been money since the beginning of time practically.

  • jopa

    David:They probably heard you bought it from the scam artists at Goldfine I believe Glenn Beck had them for a sponsor.

  • old hillbilly

    Folks, we’re not focused. As long as we’re preoccupied with hedging to cover inflation, and not dealing with the fraud and theft that causes inflation, we’re doomed to victimization!

    If you loan someone $20,000 to buy a new car and they in turn borrow $20,000 from another person to buy the same car, wherein “slick” makes official looking titles to 100% secure that car… for both unsuspecting lenders…we have a clear case of criminal fraud & jail time!

    Fast fwd to our treasury… you and 199,999 other good souls loan the treasury $20,000 each, and the treasury prints & gives everyone rock solid guaranteed T-bill certificates good as money. The president promptly gives his friends $2 billion cash to drill oil wells they’ll own… in foreign lands we don’t control. Someone discovers the treasury never really pays money back… they just print more cash and many more T-bills to sell more unwitting souls. They also raise taxes to pay piddlings of interest on their ever growing debt. They also force citizens to save money for retirement in rock solid trust funds for retirement. Someone finds the T-boys are borrowing more money to pay the rock solid retirement fund benefits because there’s no money in the trust funds. Fear not, the g-men are going to stop making payments, so everyone can plan on living without… you’ll get used to it.

    Look at it this way… If you saved your first dollar earned in 1965… Instead of earning a return (interest) on your “trust” fund, it would only be worth 14 cents today… So, you really haven’t lost much if your 1965 & later SSI money disappeared. Without inflation, saving 15.3% of a $40K salary over 46 years with a modest 5% net return on investment yields a real nest egg of $1,092,620… ($2,917,296 with $106,800 max salary)! Can’t seem to relate to this, can we!

    And… nobody is mad, nobody is in jail, and Eric Holder has justice stuffed in a closet. As long as weasels & wolves are running the hen house, there will be no nest eggs.

  • uvuvuv

    money has to represent some recognized form of difficulty or effort. that is, i could pick up sticks in my back yard for an hour (pant pant) and that is effort, but the convenience store wouldn’t want then even if i spray painted them gold. but that tenner they take. the reason is, they have tenners that they want others to take. it’s a big conspiracy that we all take part in. but of course this can’t go on forever, we will end up using money in our fireplaces just as they did in germany. what about silver? the trouble is, my half dollars say just that on them, and so even though they are worth $12 each the clerk just sees the nominal value. what will happen is the cash registers will become comex terminals where they can quickly get the monetary value of your coins and complete the transaction. the government will encourage this because once they get that silver into circulation they can confiscate it at some point. we are on our way to a cardtable economy, just like they had in russia when communism fell. suddenly their pensions and jobs were kaput and they were reduced to selling household goods. what is pathetic is when someone tries to sell kitchen utensils and lamps, etc. what you need is attractive stuff, where you sell out even before you set the legs of your table in the abandoned store’s parking lot. if you just have basic household items, sorry.

  • old hillbilly

    Forgot to mention – If you bought gold in 1965 & if… you sold it for $7.14 on the dollar… Uncle O will tax the $6.14 gain on your investment as “profit” ($1.23 if taxed @ 20%???)… or you can cheat on your tax, be fined and sent to jail! The rope around your neck isn’t just a leash, it’s a noose!

    Why not demand morality & truth of public officials! Double or triple all civil & criminal penalties when it comes to public corruption! Frank & Dodd would be cleaning Madoff’s prison toilet & Holder would be tied to a stake in the Arizona desert. Obama might be living the pristine life with polar bears in Anwar instead of raising gas prices.

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