Our own gold standard

[midevilmark]

After reading the following article, I had a moment of inspiration. Instead of using competing currencies as Dr. Paul has advocated, why do we not use the “their” currency. The treasury created it, it is legal tender, and allows for stability in real value. Also one of the benefits of using it would be the face value argument when fighting the IRS in the income tax realm. What better thing to do than use their own currency to undermine what they are trying to do to us.

If every one of us here were to convert FRNs, use for payment of goods, pay employees, and services in legal tender gold and silver eagles, what can they do? We can start our own gold standard without ever going thru the trouble of converting 434 other members of congress that are to too stupid to understand how they robbing their own constituents everyday.

PS Dr. Paul was the one whom pushed for this Act back in 1985.
The man is like erosion, slow, steady, and persistent. You wake up a hundred years later and see his affects.

http://www.liberty-watch.com/volume03/issue08/coverstory.php
http://www.usmint.gov/mint_programs/index.cfm?action=american_eagles

 

[Dr.3D]

After reading the following article, I had a moment of inspiration. Instead of using competing currencies as Dr. Paul has advocated, why do we not use the “their” currency. The treasury created it, it is legal tender, and allows for stability in real value. Also one of the benefits of using it would be the face value argument when fighting the IRS in the income tax realm. What better thing to do than use their own currency to undermine what they are trying to do to us.

If every one of us here were to convert FRNs, use for payment of goods, pay employees, and services in legal tender gold and silver eagles, what can they do? We can start our own gold standard without ever going thru the trouble of converting 434 other members of congress that are to too stupid to understand how they robbing their own constituents everyday.

PS Dr. Paul was the one whom pushed for this Act back in 1985.
The man is like erosion, slow, steady, and persistent. You wake up a hundred years later and see his affects.

http://www.liberty-watch.com/volume03/issue08/coverstory.php
http://www.usmint.gov/mint_programs/index.cfm?action=american_eagles

Actually, you are close to the right idea... but better yet, just use the $50 gold coins and the $1 silver coins the government issues and pay people using them.

The income tax would be great because the face value is what you report as income.

See this article for more info on this:
IRS Suffers Defeat: Kahre tax trial Wages Paid in Gold & Silver Coin DELETED FROM rogueIMC
http://portland.indymedia.org/en/2007/10/366287.shtml

 

[scooter]

As long as you never convert them back to FRN's, I think you can get away without having to pay gains taxes as if it were an investment.

You'd have to get businesses to agree to accept them for their items, but I think the legal problem you would run into is that a business would want to accept a 1 oz ($50) gold eagle for say a used card, but would have to price it at $1,000 if you paid with FRN's.

So it would be great if they could be exchanged at face value and the businesses could just mark their prices down to the face value of the coins, but they can't legally stop accepting the FRN's.

 

[AceNZ]

Why not just have two prices on things: a gold dollar price and an FRN price?

 

[Cleaner44]

I have been thinking this same thing. How great would it be to contribute $2300 to the campaign with 46 Gold Eagles.
$50 x 46 = $2300
46 x $925 spot = $42,550

 

[Dr.3D]

I have been thinking this same thing. How great would it be to contribute $2300 to the campaign with 46 Gold Eagles.
$50 x 46 = $2300
46 x $925 spot = $42,550

It would be legal!

 

[jon_perez]

We can start our own gold standard without ever going thru the trouble of converting 434 other members of congress that are to too stupid to understand how they robbing their own constituents everyday.

This is a rather ironic statement. Congresspeople always seek to pander to their constituents. It is the constituents that let themselves be robbed. It's not the congress members that need to be woken up, rather it is those constituents who are unaware of the tradeoffs that gov't spending involves and think only of the short-term largesse their district politicians bestows on them in exchange for votes.

What used to be an enlightened social contract has degenerated into a transactional politics, welfare-driven system.