For the Daily Pauler that wanted to use corn, instead of gold and silver, as money.
Submitted by IamVoting4RonPaul on Thu, 06/05/2008 - 23:35From the Silver Seek article "4 Fundamentals of the Silver Price"
By: Jason Hommel, Silver Stock Report
http://news.silverseek.com/GoldIsMoney/1212701763.php
To function as money, a monetary item should possess a number of features:
To be a medium of exchange:
* It should have liquidity, and be easily tradable, with a low spread between the prices to buy and sell, in other words, a low transaction cost.
* It should be easily transportable; precious metals have a high value to weight ratio. This is why oil, coal, or water are not suitable as money even though they are valuable.
* It should be durable. Gold or silver coins are often mixed with 10% copper to improve durability, and coins are made with ridges around the rim to prevent coin shaving or debasement.
To be a unit of account:
* It should be divisible into small units without destroying its value; precious metals can be coined from bars, or melted down into bars again, with a low percentage cost. This is why leather, or live animals are not suitable as money.
* It should be fungible: that is, one unit or piece must be equivalent to another, which is why diamonds, works of art or real estate are not suitable as money.
* It must be a specific weight, or measure, or size to be verifiably countable. You must be able to weigh, measure, and count, your unit of account!
To be a store of value:
* It should be long lasting, durable, it must not be perishable or subject to decay. This is why food items, expensive spices, or even fine silks or oriental rugs, are not generally suitable as money.
* It should have a stable value.
* It should be difficult to counterfeit, and the genuine must be easily recognizable.
To be anonymous:
* Money should not be subject to government tracking
* It should be useable for purchases in a black market
* It should not require equipment, tools or electricity to use
* It should not require a mark, or image, to be valuable, but rather, be a just weight, and measure.
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Thanks e_.
Dynamics of the Silver Price Revolution
http://news.silverseek.com/SilverSeek/1213458334.php
2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
Corn Jumps to Record as Floods in Midwest Threaten U.S. Crops
i am personally living through this right now (i live 15 miles from the mississippi in illinois). they have had the locks closed to barge traffic for a while now to let flood waters run downstream at full open. and they are not sure when they will open them again to barge traffic. no locks...no grains can travel in the barges down river to be exported... grain prices will continue to explode for a while.....
http://www.bloomberg.com/apps/news?pid=20601087&sid=ardXGRHX...
Corn Jumps to Record as Floods in Midwest Threaten U.S. Crops
By Jae Hur
Enlarge Image/Details
June 16 (Bloomberg) -- Corn advanced to a record, extending its rally to a ninth session, as floods damaged crops in the U.S., the world's largest producer and exporter, threatening global food supplies.
Soybeans rose to a three-month high. The Midwest floods were some of the worst since Hurricane Katrina devastated New Orleans in 2005, according to David Paulison, administrator of the Federal Emergency Management Agency. U.S. corn stockpiles may fall 53 percent to a 13-year low before next year's harvest, the U.S. Department of Agriculture said June 10.
Record crude oil, wheat, rice and soybean prices this year have driven global inflation, forcing governments to increase interest rates as the world economy slows and raising costs at companies such as Kirin Holdings Co., Japan's largest beverage maker. Soaring food costs have spurred riots from Haiti to Egypt.
2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
Financial markets are a scam, who doesn't know this, should.
If you notice I have never said for people to invest in the commodities markets. But to stock up on foods that have a long shelf life or even better, people should buy seeds and tools and produce their own.
Financial markets are a scam, who doesn't know this, should.
double post.
Freedom.
As I said before, until there are no longer property taxes and income taxes to pay, I would rather pay in FRNs than give the government gold. Better yet I would like to see a variety of products that could be used to pay taxes instead of the hegemony of either gold or FRNs.
Free trade means exactly that, the right to trade in whatever we want, and not to have to chase after FRNs or gold.
So our first goal should be to first eliminate property taxes, income taxes or for that matter all taxes and provide a way for everyone to own land. One way would be to distribute all land controlled by the government, which is over 50% of the total area of the U.S. including with them the mineral rights.
grant
Bill would rein in trading in energy futures
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/13/...
Bill would rein in trading in energy futures
Zachary Coile, Chronicle Washington Bureau
Friday, June 13, 2008
(06-13) 04:00 PDT Washington --
- As gas prices continue to soar, Congress is preparing to rein in speculative trading in energy futures markets by major institutional investors and hedge funds, which is seen as a key factor in driving up oil prices.
Legislation introduced Friday by Sens. Dianne Feinstein, D-Calif., and Ted Stevens, R-Alaska, would require the Commodity Futures Trading Commission to set limits on how much these investors - including pension and retirements funds - can invest in certain commodity markets.
http://www.washingtonpost.com/wp-dyn/content/article/2008/06...
Tighter Agriculture Investing Rules
Regulator to Watch Futures Markets After Spike in Food Prices
By Alan Bjerga and Matthew Leising
Bloomberg News
Wednesday, June 4, 2008; Page D02
The top U.S. commodity regulator will tighten rules for investors and index funds, including increased disclosure about holdings in agricultural markets, after farmers and lawmakers alleged that speculators had inflated food prices.
2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
I was just reading this article by Christopher Laird.
http://www.gold-eagle.com/editorials_08/laird061108.html
But, I don't know what to think, yet.
"first by inflation, then by deflation, the banks...will deprive the people of all property" -Thomas Jefferson
government of the people, by the people, for the people
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What do you prefer?
Not having to pay taxes would be best, but until we eliminate the power of the government to require that we pay property taxes and income taxes, I would prefer to pay with FRNs than Gold, don't you?
no because all the frn you
no because all the frn you hold are devaluing.... I can exchange my increased purchasing power in gold for more frn and then pay my taxes!
as for me and my home, we shall worship the LORD
"Ineptocracy: a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed are rewarded with goods and services paid for by the confisc
SH ! T IN SH ! T OUT
"first by inflation, then by deflation, the banks...will deprive the people of all property" -Thomas Jefferson
government of the people, by the people, for the people
---
What do you prefer?
double post, sorry.
What do you prefer?
Not having to pay taxes would be best, but until we eliminate the power of the government to require that we pay property taxes and income taxes, I would prefer to pay with FRNs than Gold, don't you?
Corn up to 5th straight record high today...
in Asia exchanges.
2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
Where is the Daily Futures Market message board?
"first by inflation, then by deflation, the banks...will deprive the people of all property" -Thomas Jefferson
government of the people, by the people, for the people
---
Barter exchange
Setting up a barter exchange is a good idea everyone here should consider as a group. Barter currency could be purchased with either gold, silver, or the goods or services themselves.
Most fiat currencies last only 50 to 75 years., some less. While gold is a good hedge against a currency collapse, a black market would most likely appear first, followed by a barter exchange. After all good and services will find a way to be exchanged.
By starting our own barter exchange with the ability to use gold or silver, we could be ahead of the curve. The downside is nearly zero. In addition, if the barter exchange had an "e-gold type" of small unit, easily transferable monetary unit, both gold , silver as well as goods and services could be traded among the members.
Just a thought people...........
Bah. Invest in portable knowledge: education
This whole gold/silver thing seems like a scam.
Yeah, a gold-based economy sounds good. But gold has been the medium of scamming people for a long time.
The same people who jerk around the prices of every stock also jerk around the price of precious metals.
I keep hearing 'gold/silver was the medium of purchasing before the US existed and will be after the US doesn't exist...so buy gold/silver before it's too late'...too late for what? Am I really supposed to believe the US is gonna stop existing? If such an event occurs, will a few hunks of gold/silver gonna help my family from some sort of amagenden?
No. If they chicken-hawks manage to really scare me, I'll stock up on food, water pellets, guns, medical supplies, etc. THOSE things will be more valuable than hunks of pretty metal. And I have lived through too many faux bogeymen to fall for this crap. In the 80's, the Japanese was gonna buy up the US. In the 90's, urban crime was gonna kill us all. Y2K. Terrorism. Now the falling dollar.
Sorry, but yawn.
So when they say 'before it's too late', they really mean: too late to make a quick buck off the rising price of gold/silver. Well, this ol' investor knows that this is just another pump n' dump trick. You don't invest for short term gains...that's for fools. Also, it's a bait and switch tactic. It's neigh impossible to buy raw gold/silver...you have to buy coins with inflated prices. Like a new car, the coin loses considerable value immediately after you buy them.
Precious metals can be part of a long-term plan, but all this hoopla about precious metals will be replaced with hoopla over something else tomorrow.
Wanna be rich? Become debt-free, spend less than you make, and invest in education, real estate, and proven mutual funds...and wait.
lol dream on buddy!
lol dream on buddy! another uneducated person who has NO CLUE what is really going on! good luck to you!
as for me and my home, we shall worship the LORD
"Ineptocracy: a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed are rewarded with goods and services paid for by the confisc
you had me until
You had me until you threw in the proven mutual funds in there. One question, have you figured out your real rate of return, after dollar devaluation and taxes?
yep...
~
Robert Kiyosaki said there's a reason
why mutual funds begin with the letters M and F !
Make some honey while your at it.
Plant flowers, specifically which kind you would have to look up, I know that humming birds like the color red. As for bees a little honey can't hurt. A good way to get them to make a hive is drill a hole in dried out gourds the size of a small pumpkin and hang them in trees.
grant
Gold is fair but Statism isn't.
I am the one that suggested using corn as money, not because it is the most practical, but because I don't trust the government to make all the necessary changes required for the gold standard to return, we can't put the cart before the horse.
First there would be the question of our being required to pay taxes for government debt only in gold . Let's say gold is successfully returned to us as money and the government continues to tax us. We know that if I live in some small town in Michigan that the gold I pay to the government is not likely to be spent by the government in my small town, it will be spent on special projects, the gold will wind up in another area not to be seen again by me, I will have to work twice as hard to produce whatever I do and try to get gold to return to my area sufficiently to pay my taxes, if not I lose my property or have to go to the bank to borrow to pay my taxes, then I am trapped. Meanwhile those who recieve gold as payment from the government have gold, come to my small community and buy up properties lost to back taxes. Not fair.
One way to prevent this would be to have taxes levied and spent only locally, but I don't see this happening.
However if I have an option to pay my taxes in some other commodity this would not be a problem. I used corn as an example, but in a free market there could be a wide variety of basic commodities which could act as money or payment for debt to the government. Enough variety so that a community could make payment of taxes without being at the mercy of the government.
grant
For this reason I bow to only one King and Judge.
Gold Is A Globalist Currency
You are correct. The only way to make gold a local currency is for the king to put his seal on gold coins and then accept only THOSE gold coins as payment for taxes. The value of gold is largely based on this trick employed centuries ago.
However, you don't need gold to prevent counterfeiting. You can just use a public ledger of credits for performing mandatory government service. Every citizen would have an account. Those credits can then be freely traded between citizens by making a phone call to the official who keeps the public ledger.
The Best Reason.
Great academic reasons, Jason! (I'm a subscriber to your SilverStock Report, BTW)
But the best reason gold and silver are the best to use as money is because the Bible shows their use earlier than any other historical record. In fact, God hints at the value of gold in describing the Garden of Eden:
Genesis 2:10-12 "And a river went out of Eden to water the garden; and from thence it was parted, and became into four heads. {11} The name of the first is Pison: that is it which compasseth the whole land of Havilah, where there is gold; {12} And the gold of that land is good: there is bdellium and the onyx stone."
God knew that gold would be the best thing to use as money, so He mentioned it right away as something he provided access to for Adam.
The reason I say this is the best reason is because God knew all the reasons Jason so clearly enumerated long before anyone could understand the practicality of the reasons from experience.
What a wise God we have (I have - hope you know Him)!
CORN PRICE EXPLODES UPWARD...
i do not want to use corn as money....but it is a better commodity to use to keep the value of my money right now. in the last 4 or 5 days corn prices have exploded to all time highes again.
i live in farm country and know more about this than other commodities. we are in a commodities war, folks. and the U.S. is going to use food to try to blackmail the world to dig us out of our financial debt.
hope you all have a garden...
...this i can eat.
2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
Irrelevant
All sorts of things have "exploded upward" in value at various times. Such as e-business stocks at the turn of the century, Florida real estate a few years back, or corn now. That means that at certain times they make good speculations. It does not mean they make good money. Corn stored in a granary will eventually succumb to fungus, insects, or rodents. Gold can sink to the bottom of the sea, be recovered centuries later, and it's still good. The quantity of corn would quickly increase if it were used as money (people would switch from other crops to corn) until the flood in the supply debased the "currency". Gold is an element and can only be increased by mining, which is expensive and difficult. In practice it is not possible to increase the supply of gold by much more than the rate at which the population grows.
I haven't figured out what
I haven't figured out what the point of the argument on this thread is---is it a squabble between "metal survivalists" and "food survivalists"?
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
Inflation callers seem to have the same one message, SPEND.
But, I am not conviced if spending is the answer, especially when I need the dollars to service my debt and to pay taxes and I'm worried about my income. I'm just very cautious about spending right now and I'm very caustious about people who tell me to spend especially because their logic seems quite funky.
"first by inflation, then by deflation, the banks...will deprive the people of all property" -Thomas Jefferson
government of the people, by the people, for the people
---
Who is telling you to spend???
People have been suggesting to you to buy some silver to protect your purchasing power. One pre-65 quarter a week, perhaps? How is that funky logic when history shows time and time again that paper money that is not backed by precious metal is trash?
I don't think the problem here is "funky logic".
___________
Lisa C.
http://www.women4ronpaul.com/
"Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all."
-Dale Carnegie
Ron Paul "Sign Wave Across the USA" -- November 5th!
Bob...did you read???
any of the posts following??? please do.
2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
I think your right
I think your right Christopher! all that flooding is not helping matters either! were already at the lowest stocks of grains in many years.. by the way where do you live?
as for me and my home, we shall worship the LORD
"Ineptocracy: a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed are rewarded with goods and services paid for by the confisc