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Is Silver Money?
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Thread: Is Silver Money?

  1. #1
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    Question Is Silver Money?

    Is Silver Money?
    By Ryan Jordan

    10/31/2012


    excerpt...

    This brings us to the title of this article, is silver money? Iíll answer my own question again in the affirmative. I just recently received an old silver quarter as change when making a purchase (much to my surprise), and U.S. silver eagle coins are still treated as legal tender (however, they can normally only be used for their face value, not their bullion content, though this may be changing). If we go back further in history, according to Article 1 Section 10 of the U.S. Constitution, gold and silver are the only items states should recognize as money, and the first American dollar was made of silver. Leaving American shores, according to Jerome Smith, 51 countries use a word for money that is the same as the word for silver. Two notable examples include ďplataĒ in Spanish and ďargentĒ in French. Most dictionaries refer to money as being standard, divisible, portable, and indestructible. By this definition, silver certainly counts as money.

    Silver is also money, in my humble opinion, because silver is a real asset. Going back to the definition of money stated at the beginning of this piece, silver is recognized as having value as a stand-in for barter. Of course, we would all like to have thousands of acres of farm land, or our own oil well, or mine, or vineyard or whatever, but oftentimes this just isn't possible. It is of course a good idea to make sure you own assets that can feed you and keep you warm, but compared to paper forms of wealth, silver (and gold) are far better. They are also portable and indestructible, which I canít say for food or a house.

    If you are a middle class person looking to...


    more at the link
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  2. #2
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    Money has three recognized functions or services; a medium of exchange, as a store of value, and as a unit of account. Today silver primarily fulfills the second one, a store of value, and only very slightly touches on the other two. But this is not surprising, the functions of money have been separating from each other as technology has advanced.

    For example, many people today use a credit/debit card as the actual "medium of exchange" for most purchases, but the "unit of account" is dollars. And one of the reasons for our current economic troubles is that millions in America where using there homes as "store of value," a function of money (one that homes/land can sometimes fulfill).

    So the idea that silver is acting in one of the roles of money, while dollars are fulfilling the others, should not be surprising. And for that matter, I don't care if it ever takes over the other functions again. As long you a person is aware of how money functions, you can allocate different things to different roles and succeed nicely.

    My wife and I use a credit card all the time, for almost all our purchases. But we pay it off each and every month without fail. So we enjoy the convenience of bank supplied money for free by knowing how the system works. We earn in dollars, save in silver, and spend with banker's plastic. Until they change something, this works great for those who know the system and are disciplined to use it.

  3. #3
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    I find I'm not very disciplined with plastic or paper. That's what I like about silver. I can satisfy my cravings to shop for best deal, spend some money and acquire something of value - all by purchasing silver. The nice thing about silver for me is, it's a great store of value and I'm not very likely to spend it. Silver isn't very practical (yet) when it comes to going to Walmart or stores downtown. It's sure not practical when buying goods online. There's no PayPal silver yet.

    It's good to know you're disciplined with your plastic card.
    "If you don't know where you're going, you might end up some place else."
    - Yogi Berra

  4. #4
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    Lightbulb When the music stops, you won't be able to buy PM, no one can sell. What price?

    Obtainable through swap trading only. No fiat will be accepted.

    Quote Originally Posted by Gene Daniels View Post
    Money has three recognized functions or services; a medium of exchange, as a store of value, and as a unit of account. Today silver primarily fulfills the second one, a store of value, and only very slightly touches on the other two. But this is not surprising, the functions of money have been separating from each other as technology has advanced.

    For example, many people today use a credit/debit card as the actual "medium of exchange" for most purchases, but the "unit of account" is dollars. And one of the reasons for our current economic troubles is that millions in America where using there homes as "store of value," a function of money (one that homes/land can sometimes fulfill).

    So the idea that silver is acting in one of the roles of money, while dollars are fulfilling the others, should not be surprising. And for that matter, I don't care if it ever takes over the other functions again. As long you a person is aware of how money functions, you can allocate different things to different roles and succeed nicely.

    My wife and I use a credit card all the time, for almost all our purchases. But we pay it off each and every month without fail. So we enjoy the convenience of bank supplied money for free by knowing how the system works. We earn in dollars, save in silver, and spend with banker's plastic. Until they change something, this works great for those who know the system and are disciplined to use it.
    Gene, every time that you use your credit card, you are creating Federal Reserve 'money', did you know that?
    And most everyone knows that one day soon that FRN money will no longer be a valid currency.
    I suppose that you were making the point in your post, that if one adapts to the environment, then one can prosper.
    Understood, but in this particular situation I do care.
    Knowing what I know about capital, it all seems a bit sleazy to knowingly empower the kabbal.

    However the real reason for this post Gene, is to forward the notion that
    once TSHTF we won't know or even need to know the 'spot price' of silver.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  5. #5
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    Quote Originally Posted by Xizang View Post
    I find I'm not very disciplined with plastic or paper. That's what I like about silver. I can satisfy my cravings to shop for best deal, spend some money and acquire something of value - all by purchasing silver. The nice thing about silver for me is, it's a great store of value and I'm not very likely to spend it. Silver isn't very practical (yet) when it comes to going to Walmart or stores downtown. It's sure not practical when buying goods online. There's no PayPal silver yet.

    It's good to know you're disciplined with your plastic card.

    i am the same exact way man, i cant save money to save my life but when it comes to silver i could buy the hell out of it and get the good feeling of spending my money and also put it all in the "bank" of silver lol... its the perfect medium! and the perfect addiction!

  6. #6
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    Well certainly East India Company and the British Empire supporting it believe that silver is money. They fought two world wars for the right to sell opium in China for silver. Qing dynasty was forced into treaties compensating the British in silver. Definitely the Chinese know that silver is money.

    The Fed certainly thinks silver is money. If not what are the gigantic paper shorts for?

    The founders of the United States know that silver is money. If not why are so many constitutional coins made in the form of silver?

  7. #7
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    Quote Originally Posted by Warlord View Post
    Well certainly East India Company and the British Empire supporting it believe that silver is money. They fought two world wars for the right to sell opium in China for silver. Qing dynasty was forced into treaties compensating the British in silver. Definitely the Chinese know that silver is money.

    The Fed certainly thinks silver is money. If not what are the gigantic paper shorts for?

    The founders of the United States know that silver is money. If not why are so many constitutional coins made in the form of silver?
    Correction: They fought two opium wars against China for the right to sell opium for silver.

  8. #8
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    Silver is silver. People decide what is money and what isn't. At the present, silver doesn't seem to operate a whole lot like money.

  9. #9
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    Quote Originally Posted by Mizzle View Post
    Silver is silver. People decide what is money and what isn't. At the present, silver doesn't seem to operate a whole lot like money.
    Yes, and paper and ink are paper and ink. Unless the Treasury uses them to produce official currency. But unlike paper and ink, silver and gold have a unique history of being used internationally as money for thousands of years.
    "If you don't know where you're going, you might end up some place else."
    - Yogi Berra

  10. #10
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    Quote Originally Posted by Mizzle View Post
    Silver is silver. People decide what is money and what isn't. At the present, silver doesn't seem to operate a whole lot like money.
    Silver is not FRN. Take a big pile of silver to the local coin store, set it on the counter, walk out with an amazing ammount of FRNs. Get it? No questions asked. No papers to sign, nothing, nada. Wow what a fantastic investment!

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