Alternative Currencies?

Off Topic
1

Some of my kookier relatives have started handing out silver coins to my boys in place of gifts. My wife dutifully stores these things in a safe deposit box, and we have quite a few of them now.

I’m checking out the latest one, after listening to my uncle’s diatribe about how the US dollar is going to be “completely worthless” in a few years, and he’s rambling on and on about how silver and gold are going to be the (old)new standard when the dollar flops.

Anyway, he hands me a few of these “Liberty Rounds”, they are stamped as .999 pure silver, and have a “suggested” face value of five “American” dollars.

I have no idea about how these alternative currencies work, but I understand that they are only basically worth whatever the buyer and seller mutually agree they are worth. According to the math, my $5 Liberty Round is actually currently worth about $3.39, so if I could get someone to agree to give me $5 worth of widgets for it, I’d be doing pretty well for myself.

Do you guys think “the Fed” has ruined the Real Dollar by eliminating the old gold/silver standards, or does it even matter anymore since it’s all going to be digital eventually anyway?

2

[quote]Cunnivore wrote:
if I could get someone to agree to give me $5 worth of widgets for it, I’d be doing pretty well for myself.[/quote]

From a quick look on eBay, some of these things will go for over $10 (there’s an auction for 2 of them currently at $20.50 with 2 days left…)

3

[quote]Cunnivore wrote:
Some of my kookier relatives have started handing out silver coins to my boys in place of gifts. My wife dutifully stores these things in a safe deposit box, and we have quite a few of them now.

I’m checking out the latest one, after listening to my uncle’s diatribe about how the US dollar is going to be “completely worthless” in a few years, and he’s rambling on and on about how silver and gold are going to be the (old)new standard when the dollar flops.

Anyway, he hands me a few of these “Liberty Rounds”, they are stamped as .999 pure silver, and have a “suggested” face value of five “American” dollars.

I have no idea about how these alternative currencies work, but I understand that they are only basically worth whatever the buyer and seller mutually agree they are worth. According to the math, my $5 Liberty Round is actually currently worth about $3.39, so if I could get someone to agree to give me $5 worth of widgets for it, I’d be doing pretty well for myself.

Do you guys think “the Fed” has ruined the Real Dollar by eliminating the old gold/silver standards, or does it even matter anymore since it’s all going to be digital eventually anyway?
[/quote]

Yes it has and it is completely irrelevant of dollars are only digits or actually on paper.

What is relevant is, if they are basically receipts for gold stored or just fiat money.

Your “kookier” relative might be pretty rich when all that paper money gets the hell inflated out of it.

How else do you think the US will ever pay it`s debts?

That is not really US specific, it should happen in Europe too, only sooner, though I think it will happen all at once…

Just the thought of how little wiggle room a government has without fiat money gives me an erection…

4

I don’t think that we will use them as a currency again. However not necessarily a bad investment. According to kitco.com silver has gone up 37.23% in the last year while gold has gone up 14.36%.

5

The idea of going back to a gold standard is silly. Don’t worry about it. If the US dollar and government collapses a gun will be worth more than a brick of gold.

6

Well your relative is right about the American dollar being overvalued. If it weren’t the “global standard” for purchasing oil, demand for the $USD would be nowhere close to where it is now.

I suspect that this could be a factor in why the states seems to attack nations that switch to the Euro for all of their oil transactions…

http://www.globalresearch.ca/articles/HEA306B.html

Food for thought.

– ElbowStrike

7

Hoo boy, the quacks are coming out in force.

There is always the danger of inflation due to various causes. Gold and silver, precious commodities, have traditionally been good investments when currencies get somewhat out of control.

8

This site is intended to make United States citizens aware of
the advancement of the agenda to launch the nations of North
America, including the U.S., into a continental union similar to
the European Union.

http://www.humanevents.com/article.php?id=15017

9

Invest in platinum.

Its even more precious than gold.

10

[quote]vroom wrote:
Hoo boy, the quacks are coming out in force.

There is always the danger of inflation due to various causes. Gold and silver, precious commodities, have traditionally been good investments when currencies get somewhat out of control.

[/quote]

Totally agree.

Look at the coins as an investment, but anyone who thinks the US dollar is suddenly going to be worth the value of a Mexican peso is definitely stumbling along the fine line between sanity and bat guano crazy.

11

[quote]jlesk68 wrote:
This site is intended to make United States citizens aware of
the advancement of the agenda to launch the nations of North
America, including the U.S., into a continental union similar to
the European Union.

http://www.humanevents.com/article.php?id=15017[/quote]

Let’s just use the Canadian dollar.

Pretty soon it will be as powerful (if not more) than the American dollar.

12

[quote]brucevangeorge wrote:
Let’s just use the Canadian dollar.

Pretty soon it will be as powerful (if not more) than the American dollar.

[/quote]

actually, if the Amero were to happen, it would make sense to do it when Canadian and American currencies even out. i.e. soon. Although I don’t think it will happen any time soon (the Amero that is).

13

Actually, speaking as a professional economist, neither gold,silver or platinum has any intrinsic value, except as non-corroding metals.

There is nothing wrong with liberty wazzits or any other currency, as long as you realise that these, just like all the other currencies are just a matter of faith. Pelts and firewood have bit more substance, but are a bugger to fit in a wallet…

14

[quote]Zap Branigan wrote:
The idea of going back to a gold standard is silly. Don’t worry about it. If the US dollar and government collapses a gun will be worth more than a brick of gold.[/quote]

When things go seriously wrong, peoples lives are no longer worth shit but gold and diamonds keep their value (See what’s happening in Africa).

That said, I don’t think the US dollar is in any kind of danger of devaluation.

15

[quote]m0dd3r wrote:
actually, if the Amero were to happen, it would make sense to do it when Canadian and American currencies even out. i.e. soon. Although I don’t think it will happen any time soon (the Amero that is).[/quote]

Neither do I. Call me crazy, but I see people rioting in the streets over something like that.

Some big-finance-backed politicians want to sabotage our nations’ sovereignty over their currencies? I don’t think so.

– ElbowStrike