-37 votes

*Red Alert: Get Out Of Gold And Silver! Use Paper Dollars!

If you own Silver and Gold get out Now!

First of all, Gold and Silver is in a Bubble. Look here is an Article that says it is: http://www.thedailybeast.com/articles/2012/08/17/gold-bubble...

Second, we already know the government has precedent to make it illegal to own Gold and Silver and will do it again. This will come with stiff Jail Sentences and downright forceful confiscation!

Third, The Government has labeled anyone owning precious metals as possible Domestic Terrorists. Sell your Silver and Gold now so you can live without fear of being persecuted by your government!

http://www.activistpost.com/2011/12/10-ridiculous-things-tha...

Forth, The Government is looking to regulate and record anyone who is purchasing physical Silver and Gold. They will Track you!

http://dailybail.com/home/update-new-bill-requires-gold-silv...

Now lets talk serious! For anyone here who owns Gold and Silver does any of that propaganda make Gold and Silver illegitimate as money? Does it give you reason to sell your Gold and Silver?

I dont think so... Sure, it's risk is a concern but considering the alternative which is to hold paper Dollars it's well worth taking the risk.

So why do all the Bitcoin haters try to use the same fear mongering propaganda techniques to downplay Bitcoins?

Look, are there hurdles to overcome? OFCOURSE there are! What, did you think the most powerful Banking Cabal would just lay down and die without a fight? Do you think there just going to relinquish power back in the hands of the people? No! There going to get their bought off government lackey's and Media whores to throw everything they got at Bitcoins. In my opinion this only legitimizes Bitcoin as a weapon that can be used against the Bankers!

End the Fed! Use Bitcoins!

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And you can

end the frb by trading goods for pieces of paper with an arbitrary price written on them, at the end of the day it still has no intrinsic value. I am not a fan of digital or cashless transactions, and I don't have to use a debit card or any other form of digital currency, there is not decree for that yet, lets hope it stays that way.lol Anyone can go to any place and pay cash or use a money order w/o any trace right now with cash, so you are kind of stretching it.

*Edit* you frame your position on the basis that we are forced into a fiat currency, and that is why I should switch to a free market fiat currency, meanwhile trying to justify that it is still fiat.

On a lighter note, a man listed his house for bitcoins
http://gma.yahoo.com/blogs/abc-blogs/man-lists-bungalow-bitc...

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James

I am certainly skeptical of bitcoins because of the fast rise in

value against the Fiat dollar,its dependece on electricity to be used, and the interest being shown by InQTel, but I am pretty sure there is no such thing as a "free-market fiat currency". Fiat means it DERIVES ITS VALUE from Government decree. Which does not fit Bitcoin at all.

I'd rather have a bottle in front o' me than a frontal lobotomy
www.tattoosbypaul.com
www.bijoustudio-atx.com

It shares every

characteristic as fiat besides govt decree. If govt decree is the only characteristic of fiat money, would you then say that the original dollar (371 grains of silver) meets the standard of fiat?

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James

uhh, no

because silver doesnt derive its value from government decree.

I'd rather have a bottle in front o' me than a frontal lobotomy
www.tattoosbypaul.com
www.bijoustudio-atx.com

Sure it does,

they declared that 371 grains of silver is valued at $1 dollar.

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James

Geeze apparently you did not

Geeze apparently you did not look it up bitcoin is not a fiat currency. Fiat means by decree.

Go try and get a money order or make a transaction at any retail establishment for $1000 or more it is reported to DHS so no cash is not private.

Cash also has no intrinsic value but I digress if you want to continue with a centrally controlled fiat currency that assures theft force and coercion of your money substance and privacy that will crash soon anyways rather then a free market currency that cannot be traced, taxed artificially inflated, or controlled by government be my guest... Sigh!

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End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

With your definition

of fiat, if govt followed the constitution and used gold and silver as money, that too would be fiat, since they would use force to get everyone to use it.

There is more to fiat than just legal tender laws, and the main characteristic of fiat $ is that it has zero intrinsic value.

Where is your source that establishments report any transaction over $1000 to dhs?

Where do you get the idea that I want to continue with a centrally controlled fiat dollar just because I choose not to use bitcoin? Sorry, I do not feel comfortable putting my money into bitcoins because I cannot touch or hold them, and they share a the main characteristic with fiat money, the have no real value.

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James

Go to dictionary.com or other

Go to dictionary.com or other dictionary site and copy and past the definition of fiat here. Yes gold and silver in the constitution would be fiat currency. It has nothing to do with intrinsic value. It has only been associated with it since all most fiat currencies in the last century have been money from nothing.

My wife has worked on retail for over ten years and I have experienced it myself in buying cars in cash from auctions. Some establishments have signs up stating it will be reported.

www.cata.info/assets/1/7/form8300.pdf

"The office employee preparing the dealership’s daily bank deposit should supply the following information to the office manager:
i. Copy any bank deposit where the amount of cash (actual cash) equals or exceeds $1,000 from any one person."

http://www.fincen.gov/financial_institutions/msb/materials/e...

-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

Definition of 'Fiat

Definition of 'Fiat Money'
Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith.

http://ask.reference.com/web?s=t&q=fiat%20currency&l=dir&qsr...
http://www.investopedia.com/terms/f/fiatmoney.asp

There are 2 main aspects of a fiat currency, 1 being govt decree, 2 being based on trust, both equally dangerous withstanding the fact if the govt decree allows the unit of commodity $ to float with market prices.

Bitcoin does not force people to use them, but it is based on trust and has no intrinsic value, therefore I say have at it but it is not for me.

It is frightening that they report any cash transaction over $1k, let alone the fact that $1k in this day and age is a small sum of money. However, you can still use cash discreetly, buying a car from a private seller, or purchasing a laptop from someone through Craigslist and the like.

I am not against bitcoin nor am I in favor of it, and I am not in favor of legal tender laws, if I had to choose what currency I use, it would be some sort of commodity backed unit however, if people want to use bitcoin, go for it. Bitcoin seems to be similar to the age when private institutions back in the 1800's issued their own currency which was backed by trust which all ended horribly for those who were holding them, but this time it is electronic. Those days in the 1800's (wildcat banks) are what led to the frb having a monopoly on the issuance of money btw, and history often resembles itself.

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James

Amazing Article!!!!

Well put!!!

I don't know why but why is it that a fear mongering article about bitcoins gets posted on the front page so easily??? I hope your article and jix's article were given as much visibility.

Again man thanks for putting together such great article. Hopefully many see it.

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Does a loaf of bread cost ten

Does a loaf of bread cost ten cents now?