If you don't fear to go even deeper down the rabbit hole, check out, also:
"Cyril" pronounced "see real". I code stuff.
"To study and not think is a waste. To think and not study is dangerous." -- Confucius
Paper money only has real value, when it is redeemable or convertible to assets that hold real value. That's why the founders mandated using Gold/Silver/Copper as money.
Please allow me to write an example of a price by weight:
Most of the whole world is now using oil and petroleum products, the oil is measured and priced in 42 gallon barrels:
Crude oil is roughly $98 per barrel, how much Silver/Gold, by weight, would be needed on a straight trade for oil?
At $30.00 per ounce Silver a little over 3 ounces would be fair,
or at $1610 per ounce Gold 16.77 barrels could be purchased for 1 ounce.
My point is; I think the founders wanted to "PRICE" everything in weights of Gold/Silver/Copper, so central bankers couldn't create the terrible economic condition, the world is now in by creating paper money out of thin air. Please remember there was "NO" inflation under the Gold/Silver/Copper standard !
The gold silver ratio over the past 100 years has an average 47±6 or 47±13%
Since 1900 the Gold:Silver ratio has varied ±13%. The Silver Dollar (341 4/16 grains of silver) has maintained its purchasing power on average.
During that time the $FRN that used to buy 1,250 mg gold now buys 20mg gold.
The $FRN has lost 98% of it purchasing power and continues to fall.
I price in Gold to determine prices over 200 years of history.
Free includes debt-free!
Hence, End the Fed!
EVENTS will be in control of the Fed." A great aphorism for all imperial dictates of our federal government.
"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."
He hates the Fed, also.
Didnt Ron Paul say, that if he had to, he would put Grant in charge of the FED? That would be a good idea, get rid of the FED from the inside. :)
Ron Paul names his pick for Federal Reserve chairman
7:37 PM 10/26/2011
Read more: http://dailycaller.com/2011/10/26/ron-paul-names-his-pick-fo...
I love Jim Grant.
I haven't seen him in a while, so I thought it was time to post him.
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