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View Full Version : Idaho's Plan To Devalue The Dollar



silversurfer1
17th March 2010, 05:23
This is damn interesting...

http://www.salon.com/technology/how_the_world_works/2010/03/15/idaho_silver/index.html

Matthew Shelley
17th March 2010, 08:11
Seems to me that the aim of the bill is to promote the Idaho Silver industry not to affect the federal currency.

I would like to see some of the mechanics which would account for fluctuations in the price of Silver. Who determines the value date of the taxes paid? If you stuck your payment in the mail and the state gets it three days later after the price of silver has dropped three or four bucks, who wins and who loses? Do you have to come up with more to make up the shortfall, or does the state take the hit during the time of postal transit? Would this cause market timers to play games with when they put the stamp on the envelope? How would the state handle thousands of deliveries that would probably need assaying? (Assuming they recognize the need to protect themselves from fraud.) And, what are THEY going to do with all that silver? Will the state become a large Silver speculator because of this? Will the state have to hire silver market specialists to handle marketing of supplies? Or will their market operations be left to bureaucrats who don't know spit about the markets.

Like I said, it's an interesting idea, but the devil will be in the details. There are a lot of questions to be answered here and the few I've posted above just scratch the surface.

Matthew C. Shelley
TrendPhonic Futures

Risk Disclosure: Trading involves substantial risk of loss and is not suitable for everyone and only risk capital should be used. Margins are subject to change. Past performance is not indicative of future results. Any investor could potentially lose more than originally invested.

nmreich
17th March 2010, 08:19
Good thoughts, Matthew.

Sakata
17th March 2010, 09:19
From the article:



But since states aren't allowed to mint their own money, the value of the silver medallion will have to fluctuate according to market forces. In just the last ten years, the value of an ounce of silver has zig-zagged between four and twenty dollars.


But the federal government has decreed that silver is not money. So how can minting silver medallions be considered to be minting money? It either is, or it isn't, but you cannot have it both ways.

main1event
17th March 2010, 09:21
The constitution decrees that only gold and silver will be used to pay off debts. So what are we to believe?

silverheartbone
17th March 2010, 10:10
The constitution decrees that only gold and silver will be used to pay off debts. So what are we to believe?

The supreme law of the United States of America.


According to the supreme laws, the current US federal government is illegitimate.
The US federal government activity has been unlawful for 77 years.
All executive acts since Dubya left office are invalid.

Free men living under a rogue nation?
Once you learn the truth, follow your conscience.

I think the current federal government is conducting war against the citizens of the States of America, and the feds are winning.

Starve the beast.

DaleFromCalgary
17th March 2010, 11:15
"According to the supreme laws, the current US federal government is illegitimate. The US federal government activity has been unlawful for 77 years.
All executive acts since Dubya left office are invalid."

As long as the American government has the mandate of heaven (that is, the sheeple graze safely in quiet pastures) then everything they do is valid. There was no revolution during the Great Depression and there will be none now. Your neighbours aren't interested in constitutional law; they'd rather watch reality shows on television.

AgShaman
17th March 2010, 12:19
Idaho is just trying to funnel future shortfalls before they happen. They do not want to go the way of the California's or Illinois. We have had alot of coastal money and people move into the state....drive up real estate in sleepy ski towns that all got built up hoping to be the next Aspen. It hasn't worked and they are facing the same problems as Intrawest. That said...we have alot of Silver mines that have not been tapped out of their silver...and many companies are salivating and hoping to swoop in an pick them up on the cheap should they wanna part with cash and pay off the debts. These mines were mismanaged by charlatans that embezzled monies funneling it away into non-affiliated real estate projects and others outside of the country. These Cats have slipped off leaving mines to be abandoned and bankrupt. The miners have been laid off....what a strange thing....to know there are years of higrade deposits to be had, but no capital left to keep them employed. It's a cut-throat business and suckers were unwise to associate with sheisters that have no integrity to begin with.

I don't think this is anything other than a state trying to ween itself from the federal "teet". There are alot of make work government projects here....who knows when the plug on the "superfund" money will get pulled, but if it does....encouraging mining companies to fire it up again and get people working....and saving silver...is doing something. Sometimes doing something is better than doing nothing. The days of holding out hands expecting the omnipotent rulers of D.C. to subsidize our lives cannot last forever...states need to get back to being controllers of their own destiny.

Curiosity will not kill the C/Kats of SS Nation!

DaBrownsRPhat
17th March 2010, 14:48
The legal definition of money states that NOTES are not money. BUT! It also states whatever the government declares as money is money.

Federal Reserve Notes are legally defined as PROMMISARY NOTES. These are promises to pay, but not payment in full, in other words not money.

Now the Federal government has declared Federal Reserve Notes as money, but they do not have that power, only to "COIN" money which to coin means to mint metal coins. They do not have the power to declare what is money and what is not money, only how to mint PM's as a standard size and value.

Soooooo, along with the clause which states that states can only use gold and silver as payment of debts, the states have a leg to stand on that the Federal government does not AND I am sure the Federal government does not want to take this to the Supreme Court because the Constitutionality of the Federal Reserve, Federal Reserve system, and Federal Reserve Notes has never been brought before the Supreme Court, and there is a reason why. They do not want it to because they have no case.

We need all states to do similar actions, and stand up and remind the Federal government that they are out of bounds in their usage of power. So, in other words, as individuals focus on local and state governments and do not focus on trying to get the federal government to do anything because obviously they do not care. The states are in the same boat as we the people are because the federal government is killing everyone (economically) but leaving themselves on top.

The people created the states and the states created the Federal government. Just like the old saying a parent may say to their kid, I brought you into this world and I can take you out of it as well! ;)