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pencilvanian
1000+ Penny Miser Member
2034 Posts |
 Posted - 08/14/2008 : 19:53:08
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This article is a true gem, it pretty much sums up the reason to own gold and silver in either bullion or coins. Don't let the title fool you, it applies for bullion as well as coins...
http://mises.org/story/3073
Truth in the Coin Shop
Daily Article by Jeffrey A. Tucker | Posted on 8/12/2008
Excerpts (but it is hard to pick the best excerpts form this article, if you don't go to the above link and read it in its entirety you are cheating yourself.)
...Somehow these coins are "real"; the coins we use today are not. But what does this really mean? And what does it imply?
.........What is real here is their substance, not the printing on the outside. This is the opposite of modern coins, the substance of which is completely irrelevant; all that matters is what is printed on the outside.
So the use of the term "real" here parallels how we use this term in any other context. Reality TV is said to provide the unvarnished truth about what people really do. We say someone should "get real" if we suspect that their thought or behavior is a mask or a blindfold that is obscuring a more obvious truth.
So it is with coins. The new coins we use in transactions are not real. They are wearing a mask, a disguise, one put on by the state. More absurdly, the state tells us not to look at the reality but rather to trust God that all is right with the money in the realm.
The old coins, in contrast, are precisely what they say they are and therefore have nothing to hide. There are no invocations that require a leap of faith. The truth is found on the scale and is told in ounces.
The gold ones are of course the ones you really want to hold. Their value reflects the metal content. Melt them, re-stamp them, make them into jewelry, and they are still worth no less than the market value of the metal.
And who decides what the values of these old coins are? ....Its worth was and is dictated by the market, which is to say, the choices and values of human beings. No government can add to or take away this value except by physically manipulating the coin itself.
............So long as this good money is in your hands, it is your independent store of wealth. There are no taxes due, no withdrawals required, no forms to fill out. It is the physical embodiment of independence. It gives you freedom. It secures your rights. And because this coin is valued not by the nation-state, it rises above it and extends beyond it. Its value is recognized the world over, and not because the UN has proclaimed it but rather because it is something everyone on the planet agrees on.
Please, please, go to the link and copy or print out a copy of this article. It is a real gem, real easy to read and not really a long read at that.
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TenBears
Penny Hoarding Member
873 Posts |
Posted - 08/14/2008 : 21:13:38
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| Another great thread by pencilvanian. Good read. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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Near Perfect Explanation for owning Gold &Silver
