before 1966 we had pounds...these pounds were exchangable[a promises to pay]one pound of sterling silver]

thus one pound meant one pound of SILVER...last time i checked one pound of sterling silver preice in yanki dollars it was arround 300 a pound

before 1945 our shillings were pure silver...after they were a reduced grade of silver...checking numistic catalogues the price difference becomes clear

our constitution states only coinage is legal tender..v 116..[there is no mention of bonds or other paper or plastic 'instruments' being legal tender]...as the dollar coin is not silver..and in fact cupra nickle[a relitivlty[to silver and gold] ..valueless metal...we clearly have been defrauded

we got conned to turn in our valuable silver for their..[the feds]valueless nickle...in usa the same sceme was underdone with gold when gold underwent the same theft..in fact it was gold that was stolen here as well before they stole the silver[and in time the copper coin]

by the time they stole the copper coins..they contained 5 cents of copper in a one cent piece...i also recall..bying yaki because the exchange rate valued our money abouve the yanki dollar...

further noting the dollar...like the pound is a unit of weight..thus even the yanki dollar was woth its weight in silver...how much silver would be parity with the famed silver dollar...that might equate to a quater pound[of silver]..as i recall one brit sterling slilver pound equating to 4 yanki dollars

this is quite aside from arjays point..[that has seen the quantity of dollars[etc]..inflate in ammount only..via fed issueing more of them[thus by decreasing their value..when valued in what they can buy]

Arjay: << Pericles,check your arithmetic.2500% divided by 96yrs is 26% not 3.5% that you said was the average inflation rate.You are fudging the figures again >>

Arjay, have you ever heard of compound interest? Run a business, do you?

*we got conned to turn in our valuable silver for their..[the feds]valueless nickle...*

Rubbish OUG, you were not conned, the changes were made for
quite logical reasons. For when the global price of silver rose,
countries which had silver coins, suddenly found them vanishing,
as people melted them down for sale as silver bars. Have
you ever seen an economy function with no coins in
circulation? It doesent work. Everything stops.

Yet you go on about this over and over, failing to concede
why silver coins went out of circulation.

26% inflation hey Arjay? Every year? Now tell me in which year
we actually had 26% inflation.

gabby nails it..yet didnt even know it..lol<<..For when the global price of silver rose,countries which had silver coins,..suddenly found them vanishing,as people melted them down for sale>> thats the key right there..brother/sister

see mate..a great influx of fed/fiat/paper..saturates the market place..[some one..[fed/bwankers]..got greedy...and pumped TOO MUCH fed/FIAT paper...and the..paper/..''money''..sought a..safe haven..in silver...GET IT?

but the proffit keeps revealing..<<Have...you ever seen an economy function with no coins in..circulation?>>>..oh like how were SOON GOING TO GET CYBER CREDIT/debit?

<<It doesent work...Everything stops....>>..well we will soon see eh

Yet you go on about this over and over,..failing to concede silver coins went out of circulation....BECAUSE TOO MUCH PAPER WAS BEING ISSUED...

too much fiat paper..ONLY allowed to be issued via the fed money changers...[changing OUR silver/gold..into paper..they issue to any anmmount..[thus setting ists worth[rerad zimbabwe..[or germania,or finland...

and soon the yanki dollar..[bet you never read that link..advising the us embassies to convert their dollar holdings into local currency..one needs not wonder why...lol

watch as we next enter..the times...like was egsistant...when they stole our silver...because they/fed bwankers..got greedy with their issuing of fiat paper..[yet again]..

this time they will have a run on nickle and other commodities..[post...the recent..'injection'..of fiat...bringing ...lol.. hyper inflation]...while govts strive for stagflation...in the end we get dee-flation

and SOON all get converted to digetal..into virtual paper...notes only cost 7 cents each to print...but virtual cost near nothing..its real worth...lol

and the real gold they still OWN..well that..belongs to who ever has shares in the fiat paper franchise..loosly called the fed cartel

OUG, it sounds like according to you, the size of the economy should
be goverened, by the size of the silver and gold mines, which
mine the stuff. If more is not mined, the economy can't grow.
Really logical stuff here.

The problem is in how you see money. You want something to store
under the bed, something that you can admire every day

So its your mindframe that is the problem here. Start seeing
it as a convenient unit of exchange, just another commodity,
and you would not have so many sleepless nights :)

FWIW we could use turkeys rather then $. You could go to the
supermarket with 6 turkeys under your arm, to pay for your
groceries. But its just not so convenient lol.

If you are worried about you assets losing value, so store your
silver bars under your bed. I can't see the point, but each to
his own. I'd much rather have my assets in an oil well or two,
or some good farm land.

This is heading towards the surreal.

Arjay, for shame.

>>Pericles,check your arithmetic.2500% divided by 96yrs is 26% not 3.5% that you said was the average<<

CJ and Yabby have both pointed out the existence of compound interest. I'd just like to add that you can't even identify basic numbers.

I wrote:

>>this equates almost exactly to an inflation rate of 3% p.a<<

Interestingly, at 3.5% inflation instead of 3%, your 1900 dollar would now be worth $42.51, as opposed to $25.08

Learning sums is important when you're dealing with numbers, Arjay.

The gold standard is now part of mythology, oug, as is the silver standard, the carbon standard and any other "standard" you'd like to name.

For a start, there is insufficient gold on earth (even as yet unearthed) to support the US economy, even if they wanted to.

Think about it. Douglas Adams did.

"How can you have money," demanded Ford, "if none of you actually produces anything? It doesn't grow on trees you know."

"If you would allow me to continue ..."

Ford nodded dejectedly.

"Thank you. Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich."

Ford stared in disbelief at the crowd who were murmuring appreciatively at this and greedily fingering the wads of leaves with which their track suits were stuffed.

"But we have also," continued the Management Consultant, "run into a small inflation problem on account of the high level of leaf availability, which means that, I gather, the current going rate has something like three deciduous forests buying one ship's peanut."

Murmurs of alarm came from the crowd. The Management Consultant waved them down.

"So in order to obviate this problem," he continued, "and effectively revaluate the leaf, we are about to embark on a massive defoliation campaign, and ... er, burn down all the forests. I think you'll all agree that's a sensible move under the circumstances."

(Restaurant at the End of the Universe)

And xkcd understand.

http://imgs.xkcd.com/comics/alternate_currency.png

Currency is always a means to an end. Not the end itself.