Sunday, April 02, 2017

Money



Gold Backed Currency

While doing some research about Lewis and Clark this morning, I came upon an image of a very large denomination gold backed bill. This bill fascinates me. Because it is not what we have now as money.

Our present bills are Federal Reserve notes, which are not backed by anything. It is Fiat Currency whose value is solely based on faith of people of its worth.

Click on image to enlarge

Note: President Woodrow Wilson is the face on this bill.



Blogger has changed over the years
My Blog began in May, 2003. That was only a few months after Google purchased Blogger from its creators. At that time, a blog was a list of posts in reverse chronological order. Newest post at the top.

There was no easy way for you to look at one of my Blog posts from years ago without scrolling down a huge list of Blog posts searching for the one you wanted. That's when I created my "Calendar Archives" which allowed readers to go to any particular date directly.

Have used my Blog's archives [Link] to look at past posts? You may have noticed some strange buttons that read "Yesterday" and "Tomorrow."

I wanted my readers to be able to go from post to post, day by day [like it is now]. In order to do that, I created my own layout by writing the HTML code Blog template myself.

Every day, I manually inserted "Yesterday" and "Tomorrow" links in the HTML code of my post.

Years later, Blogger made it impossible to use my HTML code for a template. So, I converted my Blog to what came to be known as a "Layout." But since my old "Yesterday" and "Tomorrow" links were part of each Blog post, those links remained. These links are not in the proper location now, because of the conversion to Blogger's layout.

PS: This explanation may be hard to comprehend. But it's on my mind, so I made this Post/Explanation.


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3 comments:

  1. George, when you were discussing investments in one of your blogs a few years back, I believe I sent you an e-mail one time regarding the US silver certificates which were then backed by precious metals. My grandmother (who was not wealthy and back then saw very few of those certificates--she was land rich but cash poor on the farm) would give me a Silver Dollar every year for my birthday and Christmas until her death. I still have those Silver Dollars (and part of the farm) to this day and cherish them. Maybe she was trying to teach me something about investing in her simple way.

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    Replies
    1. Hi Dee,

      Currency backed by silver or gold is the only real money [in my opinion].

      This fact will come abundantly clear when the huge debt that the Federal Reserve racked up by bailing out banks and investment houses gets out of control.

      How will things get out of control? This is just a guess, but my thinking is that when the interest on that debt rises to around 5%, the interest payment will be sooooo huge, that everything will come apart.

      When the average guy does not trust the dollars in his wallet to be worth the face value, precious metal [your silver dollars] will skyrocket.

      George

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      Delete
  2. Soo true George. Yet so simple. Reinstate the Glass-Steagall act of 1933 and end the FED. Problem solved. Oh and I think Dee was talking about silver certificates not coins. I think they are fairly valuable now.

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