[Homestead] gold back currency anyone?
bobford79 at yahoo.com
Sun Dec 7 12:56:29 EST 2008
Thank you , james. I know you aren't sure; but if you were not at the point where you are now; would you think some assets in gold is good for medium term stategy, next 2-5 years.
I think you are on the page that eventually no 'currency' will matter, only food and tools. But, isn't that a long way away, in your opinion. I mean they are talking 90 cent gasoline in a year. Though I am not an oil peakist like you, I do think most of your ideas have been spot on, if maybe a little early.................
--- On Sun, 12/7/08, Clansgian at wmconnect.com <Clansgian at wmconnect.com> wrote:
> From: Clansgian at wmconnect.com <Clansgian at wmconnect.com>
> Subject: Re: [Homestead] gold back currency anyone?
> To: bobford79 at yahoo.com
> Date: Sunday, December 7, 2008, 10:51 AM
> > >That makes sense. Do you offhand know of the law
> that says a contract
> > based on gold is void? I am somewhat a fan of the
> cartoonist R. Crumb (Fritz
> > the Cat). A few years ago, he traded, using a legal
> contract, his 'notebook'
> > of drawings for an estate in France. No currebcy of
> any kind was used.
> "The limitation on gold ownership in the U.S. was
> repealed after President <A
> Gerald Ford</A> signed a bill legalizing private
> ownership of gold coins, bars and
> certificates by an act of Congress codified in <A
> 93-373 <A
> which went
> into effect <A
> 31</A>, <A
> P.L. 93-373 does not repeal the <A
> Resolution of 1933</A>, which makes unlawful any
> contracts which specify payment in
> a fixed amount of money or a fixed amount of gold. That is,
> contracts are
> unenforceable if they use gold monetarily rather than as a
> commodity of trade."
> You will find a lot of gold-o-philes who say that a supreme
> court case in
> 1977 established that 'gold clause' contracts were
> made legal again. Not true.
> This was only a case involving whether gold was being use
> in a monetarialy or
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