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DONNA FORTINI's avatar

Silver & Lead stacked!

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Way Back Joe's avatar

Yes Silver.

I. have been a silver buff close to fifty years now.

Silver as money is actually more important than Gold because it is pocket usable by the common people to buy all their staples on zero credit. The current price of silver & its ratio to gold are entirely fictitious. The true ratio as defined by mother earth inventory is closer to 10 to 1. 10 oz of silver to 1 oz of gold in the ground.

As I recall as a teen back in the 1950s and I recall it very well as the old man was away all week working and on Friday afternoon when he came home I the oldest had to walk ( we didn't own a car ) to the store about three blocks away to get him a package of Players plain smokes and a case of coke for us kids. He usually gave me one metal Canadian 80% silver dollar and off I went. For as long as I can recall along with the smokes and coke I got back 17 cents change as well, which shows how stable prices were back then, Inflation was something that involved tires and balloons not money.

At that time it didn't matter if a paper dollar was used in the transaction the cost was the same, and of course as a young person I had no real concept of money, paper or otherwise all I knew was that the numbers on the paper would buy things... how much depending on the numbers. Not so with the coins though 1 was the most on the coins= 1 canadian dollar coin. The coin denomination was 5c 10c 25c 50c

1.00 dollar.

In the early sixties I was driving a taxi part time in a city out west to pick up some extra money when I received my first life lesson about money. A fellow would show up at the dispatch office every Sunday afternoon to pick up any coins such as dimes quarters half dollars and dollars left in small bags by the drivers who would receive a 10% premium. The smallest amount was $10 worth of coins because he only paid in paper money, so a $10 bag of coins .. dimes quarters half dollars and full dollars would garner $11 in paper. What was he all about, the thinking was it's all the same money so give the guy the coins and enjoy the extra 10% money for free.

Shortly thereafter the US began taking their 90% silver coins out of circulation and 1964 was the last year of minting these 90% silver coins. Canada was still minting 80% silver coins and I began stashing as many 80% coins as I could including the US 64 and prior coins. Canada stopped minting these 80% silver coins in 66 but did some in 67 as well.

With inflation rearing its ugly head in the mid 70s ( Nixon closed the gold window in 72 ) you had to be comatose not to see what was happening to our money and by that time I had picked up a lot of knowledge on the subject of money both practical and theoretical. I understood that Keynesian monetary policy and the abandonment of fiscal restraint would lead to the fall of its adherents mostly in the west.

Around that time I also came across a great book: THE COMING CURRENCY COLLAPSE, by Jerome Smith an advocate of sound money.. in particular silver. From what I have heard and read the Hunt Brothers also read this book and decided to try to corner the silver market and as much physical silver as possible. Well.. we all know how that turned out the Kabal sent Volcker out he read the riot act to the pair and not wanting to be like Jimmy Hoffa they brought all the millions of ounces of silver back from Switzerland. Jim Sinclair supervised the entire affair.

I stopped thinking of silver and gold too especially the coins as possible means of great profit and started looking at these as bad time insurance. The grip on these precious metals is now so done a deal that they will never return as official money in my lifetime. But an economy will exist no matter what all is broken, trade must be done, if not then we are beyond bad times. Survival will be paramount so there are many things that are more important than owning silver or gold.. safe shelter, access to food or growing it yourself, friends family and neighbours close by.

I haven't got into what constitutes real money risk the function of interest and saving, and why you cannot build a nation and civilization without it.

Some other time, perhaps

WBJ.

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