cayadopi at yahoo.com
Sun Jan 11 15:10:38 EST 2009
1933 I remember reading about,,,, 211 BC I do not... LOL
Thanks for the history.
Gold - it's good for a hyperinflation. Post hyperinflation is a coin toss. If memory serves me right there is already talk of at least 2 other countries returning to a gold standard, post US collapse. Then there is talk of a one world currency. Who knows which way the wind will blow ultimately, certainly not I.
For me at the practical level, it all means learn how to grow food, tough times are ahead.
Downside Risk? None. There is no downside to learning how to grow food.
--- On Sun, 1/11/09, Clansgian at wmconnect.com <Clansgian at wmconnect.com> wrote:
From: Clansgian at wmconnect.com <Clansgian at wmconnect.com>
Subject: Re: [Homestead] Chinampas
To: homestead at lists.ibiblio.org
Date: Sunday, January 11, 2009, 2:16 PM
> >On the other hand, if government creates a new currency in exchange
> gold, it might be useful for that.
They might. This is a distinct possibiltiy. But look what's happned every
single time in history this has happened.
Go WAY back, for instance, to Rome's Punic wars. During the Second Punic
War, Rome lost control of the Campania region which supplied a great deal of
grains that fed the Republic (this was around 211 BCE). Many disgruntle areas
revolted and the economic basis of the republic collapsed. Grain was scarce,
there was no effective civil government to enforce the value of the currency,
and this one of the times in history that gold became worthless. It took
seven years to restore the civil government to the point if felt confident
to reissue currency and enforce its value. By edict, all coinage had to be
turned in to the mints and it was reissued (reminted) in a standard
denomination, the 'denarius' (hence the Spanish word
"dinero"). Individuals were
prohibited from owning more than a smackeral of gold and no one but the one
government mint was allowed to strike coins.
People who thought they'd sit on that sack of soldi coins or such and be
fixed up when the civil unrest was over were mightily disappointed. They
government took possesion of all the gold and fixed its exchange rate.
This happened here in 1933 as you will recall.
Perhaps, as they say, "better than a snowball", but it's still a
business with a delayed payoff at best.
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