Start your own gold standard todaySubmitted by George Strait on Tue, 10/09/2012 - 21:29
There is no reason why, right now, we cannot begin again the practice of circulating silver and gold as money.
Silver "bullion" in the form of pre-1965 coins are available for the roughly the same price as silver bullion, and a silver dime is convenient for very small purchases ($3.00 or so).
Interestingly, a 1917 silver half dollar still buys what it did in 1917 by melt value alone.
Gold presents the small problem of being worth too much (if you can call that a problem), but I feel that this can be solved by laminating small half gram or one gram sheets of 24k gold into "credit cards". With a unique stamp in the gold itself, and a value around 50 bucks, there wouldn't be a huge incentive to counterfeit or adulterate the cards.
You can buy gold sheet online at jewelry supply stores for a little over melt value and make these things yourself. If 10 dollar gold pieces could circulate without suspicion, in time, so could these.
So long as we never attempt to assign a "dollar" value, and only denominate in grams or ounces, we can establish a universal, international and totally permanent store of value and means of exchange. Furthermore, so long as it is bullion, clearly marked by weight and purity, it will also be perfectly legal.
The fatal flaw of any monetary system is the urge to use an arbitrary measure like a dollar or pound or denarius. A gram is a gram, and is never subject to exchange rates, inflation or changes in government. It is the assignment of value, by force, that causes a monetary scheme to fail. When using an impartial measure with no assigned value, it is people that establish the value of the money, rather than government force.
So, make an arrangement with the fellow that changes your oil, sells you firewood or mows your lawn to pay him in silver or gold instead of paper dollars. Once like-minded people get the ball rolling, silver and gold will begin to circulate, and gradually, silver and gold prices will appear alongside the dollar price. Once people are paid, spending and saving in gold and silver, fiat currencies will lose their relevance, and there will be no need to end the Fed.
Establishing a parallel silver and gold economy is essential to insulating ourselves from the harm of worthless paper money, and we can start today. Don't just buy silver and gold, spend them.