Has anyone else lost faith in the "Paper Promise"?

[centrarchidae]

I still can't wrap my head around how that makes sense.

It doesn't, really.

But here's the logic:

1) Congress has the power to "coin money."

2) Congress has authorized the Treasury to make platinum coins, in whatever denomination. The intent was to make novelties for coin collectors, but the coins will still be legal tender - at face (not metal) value.[1]

1 + 2 = 3) It's legal for the Treasury to make a one-ounce platinum coin and stamp it "One trillion dollars." Or, $1,600 in metal and $999.999,998.400 in seigneurage.[2]

4) The Treasury then deposits that coin at the Federal Reserve and writes checks or other disbursements against the trillion dollars that they suddenly have in their account.

Take away the smoke and mirrors, and it's the coin version of running the printing press.

[1] We already see this with pennies. They're "worth" a cent in face value, but actually have something like 1.4 cents' worth of zinc, each. They would literally be worth more, hammered flat and sold as scrap.

[2] Literally, means the right of a sovereign to profit from making coins. In context, it's a polite word for "inflation."

[hollohas]

Check this silver bullion out





http://silverbulletbullion.com/

[StevenP]

I would like to pick it some silver but not sure in what form. What are you guys buying coins, rounds or bullion?

[losttrail]

I lost faith in the USD and our government decades ago.

[Dave]

I would like to pick it some silver but not sure in what form. What are you guys buying coins, rounds or bullion?

Mixing it up depending on what I can find and where. I have some silver maples, eagles and 1 ounce bars, plus a few 1 gram gold "bars" in plastic containment. Watch financial market pages and see what gold and silver prices are and see what is closest and has the best shipping and handling options. Try to buy right after a few days of losses since some sites can lag a day or two while others lag a few seconds. Just make sure what you are buying is certified .999 or .9999 silver or gold from a reputable site. I have had good dealings with Westminster and Apmex.

[hobowh]

I buy everything from 90 percent to 10 oz 999 bars in silver also like the old Mexican 2 peso coin about 20th of an oz gold as well as other gold coins

[StevenP]

Thank you for your replies! I've been looking at Westminster and Apmex website and that is why I was curious as to what everyone was buying. Looks like I start buying 5 or 6 coins per paycheck.

[hobowh]

look at 90% silver too pre 65 dimes quarters halfs etc $1 face value is around 22 23 bucks if you are short on funds

[rbeau30]

look at 90% silver to pre 65 dimes quarters halfs etc $1 face value is around 22 23 bucks if you are short on funds

I prefer pre-1965 coins because they are portable, are easily recognizable, and if S did ever HTF, It would be easier to utilize pre-'65 coinage.