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  • From: bob ford <bobford79 AT yahoo.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] gold back currency anyone?
  • Date: Sun, 7 Dec 2008 19:28:08 -0800 (PST)

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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