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[bob ford <bobford79 AT yahoo.com>]

Everything you said makes sense except for one fact.  I am holding in my hand 
as I type, a 1 oz. Fine gold (.999) $50 Liberty coin, U.S.,.  It is Minted by 
the U.S. gov't and  it is legal tender.

The big question is your last question.  I'm waiting for you to eventually 
tell me the answer................


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--- 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: homestead AT lists.ibiblio.org
> Date: Sunday, December 7, 2008, 9:02 AM
> > >I'm still following the issue.  It is not to be
> a 'regular' bank .  They 
> > will take no currencies, only gold and silver.  I just
> don't know if they can 
> > protect themselves from the U.S. gov't .
> 
> It is currently illegal to use gold as currency.  When the
> 1933 exectutive 
> order prohibiting the private ownership of gold was
> partially lifted in the 
> 1970's, only the provision for hold gold was removed. 
> The prohibition against 
> using gold as currency still stands.
> 
> The current economy cannot return to a gold standard for
> the simple reason 
> that there is not enough gold in existence to back up the
> outstanding currency.  
> If you took all the extant gold and divided that into the
> countless trillions 
> of existing fiat currency, that would mean anyone with a
> high school class 
> ring would be a multi-millionaire.
> 
> Prior to the 1920's very few transactions took place
> using actual currency of 
> any kind.   In settled communities people didn't so
> much directly barter but 
> rather kept ledgers with goods and services being rendered
> into a money 
> amount, although actual money was not used.
> 
> Herself has just finished reading the pubilication of the
> journala of a 
> midwife who lived in Maine from the 1750's to the
> 1830's.  Some of the journals are 
> in the form of half the page being everyday journal entries
> and the other 
> half being her ledgers.  She got eight shillings for
> attending a birth.  But 
> often as not the ledger reflected that the family
> "sold" a barrel of molasses to 
> the merchant who transfered that asset to his debt to the
> fuller for some 
> prepared wool and the fuller transfered the asset to the
> saw mill her husband ran 
> who gave the asset to his wife and she removed it from the
> books.  No coin or 
> script ever changed hands.  
> 
> When people had to "liquidate" a debt or asset,
> it was most often done in 
> molasses or rum or whiskey which could be stored for a long
> time and kept its 
> value.
> 
> The face of European economy and society was changed
> forever when the Spanish 
> brought back tons of gold and silver from the new world. 
> Until then a 
> wealthy person owned many estates and would take his
> retinue to one estate for a few 
> weeks to collect his due in the form of food, drink, care
> for his horses and 
> arms.  Then he'd move on to the next in a seasonal
> cycle.  There was not other 
> way for him to collect his taxes because physical coin in
> large denominations 
> was rare.  With the influx of New World gold, Europe when
> on a cash economic 
> basis.d
> 
> Trying to figure out what we are going to use as money is a
> lot like trying 
> to decide by what means we are going to power our cars
> ..... maybe the answer 
> is  'nothing'.
> 
> 
> James
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