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Posted 04/21/2009 03:49 am
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Only because you are the King of Note Collectors
Only because you are the King of Note Collectors
Please, no name calling here!
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With the current defecits we have, it seems crazy to keep printing paper money that only lasts 18 months, when coins would last for 25 or 30 years. I would like to see the math on how much could be saved with this!
With the current defecits we have, it seems crazy to keep printing paper money that only lasts 18 months, when coins would last for 25 or 30 years. I would like to see the math on how much could be saved with this!
Congress authorizes mintages (right?) but the Fed controls money supply through the treasury dept through the BEP (right?) so if we are to pull ourselves out of this deficit, nothing is better than to print enough paper to fill that hole.
On another note, we could have $100 base metal coins. If that happens, run and get some gold, oil and ammunition.
And as for Mexico, their inherent flaw was that the money itself was not strong, so no amount of silver in the world could have backed it (well, of course unless it was a commodity, not fiat currency). However, as the US Dollar is still strong, we may very well have the choice of minting bimetallic coins with a small bit ($5, perchance?) of silver.
In fact, as I've garnered from manilagalleiontrade, they have EUR12 coins that can be bought at face at the banks, although you have to be a special customer and it only has around EUR5 of silver. So sap, I guess that could be another "trial" of modern silver coins but surely enough no one spends them.
One more note as I've noticed, why does the copyright declaration at the bottom say 2005-2007? Should we get an update?
