One of the best explanations of sound money and the perils of fiat currency I've ever seen - and not an Ivy League economist in sight.
BTW, this kind of thing is illegal in the United States because of Legal Tender Laws through which the government has virtually eliminated monetary competition. If competing currencies based in gold or silver were allowed to circulate along side federal reserve notes, the worthless paper would soon lose its appeal.
This, of course, would lead to all manner of mayhem such as the elimination of inflation, reduction of people's dependence on Washington and stability of retirement savings - things the government cannot abide if they wish to maintain (or increase) their present level of control over people's lives.
HT: Lew Rockwell
So where can i get some of these coins?
ReplyDeleteI guess you'd have to travel to Jakarta, Indonesia for these particular ones. However, we can (for now) still legally own gold and silver bullion type coins that are widely available here. We just can't use them for commerce.
ReplyDeleteYou can also buy US halves, quarters and dimes minted prior to 1965 that are 90% silver. Here's a great site that shows the value of those coins at the current price of silver:
http://inflation.us/coins/