On Mon, 12 May 2008 04:10:50 -0700 Bob Estes <[EMAIL PROTECTED]> wrote:
> This is an excellent example of how our current monetary system is > devaluing our money. Here is another example: The current value of silver > is about $17 per Troy ounce. The current silver dollar is one Troy ounce > of .999 fine silver. With the price of gas about $4 per gallon, you can > buy a little over four gallons with that silver dollar. Before 1964 our > coins contained silver. In the early 1960's you could buy a little over > four gallons of gas for one silver dollar. What has changed? The world > market no considers the Federal Reserve dollar to be worth the same as it > was forty years ago. That is the result of using worthless paper or fiat > money. Gold, Silver, Oil, Orange Juice, and copper are all commodities. At present time the value of the US dollar is low, US exports are way up, and Oil, Gold, and Silver are relatively high. Years ago, the Federal Reserve Bank of New York had (actually still has) a vault of gold, and gold was physically moved between various counties' section of the vault. The problem here is that gold and silver are commodities and their values also float. Don't jump on me if my dates are wrong, but we effectively went off the gold standard in 1933. And in 1968 US currency was no longer exchangeable with silver. The thing that devalues our money is inflation. There are a lot of economic reasons for not tying money to gold or silver, and the hard currency battle goes back hundreds of years. -- -- Jerry Feldman <[EMAIL PROTECTED]> Boston Linux and Unix PGP key id: 537C5846 PGP Key fingerprint: 3D1B 8377 A3C0 A5F2 ECBB CA3B 4607 4319 537C 5846
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