Dear Adam;
You sound like the Libertarian firebrand I was in 1974. I’d like to share a pointer on real money with you. My Dad tsught me this at the outbreak of WWII, when he bought 100 Dollars of silver and we buried them under the garage floor. Checkbook money, notes, bills, IOUs, gold & silver are all mediums of exchange; as they age they go out of date, like last week’s newspaper and are no longer current, they are no longer currency; With one exception: the Monetary metals of the ages, silver and gold, are the only mediums of exchange that are also stores of value over thousands of years, to date.
Store of value! Dad recalled having to surrender his gold coins the year before I was born. He was still pissed off when FDR died in 1945. I never heard my Dad refer to FDR as anything but, “That S.O.B. in the Whitehouse.” So I had to believe Dad knew what a store of value was. Now, I know it to be true in my own experience. Lawful Money, even legal tender notes (FRN$) meet the following criteria for current money: Miscible & fungible, provides standard accounting unit of value (Not a store of value, except in the very near term).
The comparison of Money, as a store of value, to money as a medium of exchange, a transient borrowed medium of exchange at that, IMHO should be in your stump speech.
It might make a great segue to Audit the Fed, etc.
Go gettem Adam! (I’ve been a Ron Paul supporter since 1987.)
Dear Adam;
You sound like the Libertarian firebrand I was in 1974. I’d like to share a pointer on real money with you. My Dad tsught me this at the outbreak of WWII, when he bought 100 Dollars of silver and we buried them under the garage floor. Checkbook money, notes, bills, IOUs, gold & silver are all mediums of exchange; as they age they go out of date, like last week’s newspaper and are no longer current, they are no longer currency; With one exception: the Monetary metals of the ages, silver and gold, are the only mediums of exchange that are also stores of value over thousands of years, to date.
Store of value! Dad recalled having to surrender his gold coins the year before I was born. He was still pissed off when FDR died in 1945. I never heard my Dad refer to FDR as anything but, “That S.O.B. in the Whitehouse.” So I had to believe Dad knew what a store of value was. Now, I know it to be true in my own experience. Lawful Money, even legal tender notes (FRN$) meet the following criteria for current money: Miscible & fungible, provides standard accounting unit of value (Not a store of value, except in the very near term).
The comparison of Money, as a store of value, to money as a medium of exchange, a transient borrowed medium of exchange at that, IMHO should be in your stump speech.
It might make a great segue to Audit the Fed, etc.
Go gettem Adam! (I’ve been a Ron Paul supporter since 1987.)