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[bob ford <bobford79 AT yahoo.com>]

Allright.  You know, James;  You never give an inch.  You realize I am 
listening and taking you seriously.  Obviously you know I have at least one 
coin.  Perhaps one day , I'll be starving in Tennessee and can trade that 
coin for a loaf of a kind homesteader's bread ...............  I'm still 
thinking, though;  I am stubborn; but, I am also listening to 
you.....................


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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, 8:16 PM
> > >Your answer to the one point the blogger made below
> warrants this further 
> > question.  So, if a person does believe that in five,
> ten years, or less, 
> > that free markets somewhere in the navigable world
> will be operating, then 
> > having 'some' gold is not a terrible idea ?
> 
> Bob, things got bad in 1929 and a lot of people followed
> the old Gold 
> routine.  In 1933 they were required by law to turn over
> all their gold to the fed 
> and receive (about) $20/oz in paper money for it.  Then the
> government declared 
> that gold was worth $35/oz and there you were holding all
> that paper money now 
> worth around half what it was before.
> 
> Someone else bought up, lets say, beans, steel, rum,
> anything instead of 
> gold.  In 1933 those things (because of the devaluation of
> the currency in the 
> gold confiscation) were now worth roughly double what they
> had been previously 
> worth.
> 
> What?  Was holding gold a good idea or a terrible idea?
> 
> Even if you disobeyed the law and kept your private stash
> of gold, you were 
> prohibite from ever trafficking in it.  Only the Fed was
> allowed to buy your 
> gold.
> 
> This not an isolated instance, it has happened repeatedly
> through history 
> even in ancient times.  If we go through really bad times,
> as we well may, I very 
> seriously dobut you are going to be able to waltz into a
> bank and cash in any 
> of your gold.  Neither is anyone else so its barter value
> diminishes greatly.
> 
> All the long list of things you hear about gold being
> portable, ten thousand 
> in your pocket and such, makes gold have one more
> characteristic that has been 
> brought into play time and time and time again in history
> .... it is very 
> easy to take it away from you.
> 
> 
> James
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