Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (73470)	7/15/2001 7:21:20 AM
From: d:oug	Respond to of 116816

Is Silver Money? (or) When will the usa edict (fiat) system collapse. From the Le Metropolecafe.com with 95% of pay-to-view material removed, leaving just the silver & Mexico story which has been reported on in detail many times in public. The Man Ray Table Asia Topic du Jour Is Silver Money? I took out my Black's Law Dictionary and looked up money. Silver has the six aspects of money in a classical sense. It is divisible, durable, convenient, consistent, has utility value, and cannot be created by fiat. Silver is used as a medium of exchange and as a store of value. Before we get into a big argument about whether silver is money or not, I need to point out a couple of details. First, it is a recorded fact that silver has been used in more places and for longer periods of time for money than gold. Secondly, I would like to quote Nobel Laureate... Quoting from the Silver-Investor.com web site: It is impossible to write about silver without evoking emotions, although it is my goal to be as objective as possible. ... involves the silver as money issue. The facts are that precious metals are rare, fiat currencies can be printed at will, and have always been abused. My projection for the ultimate price of silver would be... ... throughout all of recorded history when a country has adopted a monetary system founded on edict (fiat), the nation has had a financial collapse... ... the gold window was closed in 1971 and for the first time in history, the reserve fiat currency is worldwide phenomena. ... [once] this shift was seen by the market the tendency is for others to follow. Mexico is considering using its silver as a financial store of value. Some banks actually offer their customers money as defined above. This is a noble and valiant act. Some economists in Mexico have argued that the Mexican people have imported about as much U. S. paper as ever needed and it might be wise to recycle this paper. Grupo Elektra, quoted on the NYSE under symbol EKT, and Banco de Mexico, Mexico's Central Bank, have signed a contract authorizing Grupo Elektra as a distributor of Banco de Mexico's "Libertad" one ounce silver .999 coin, which has no face value and is legal tender under certain circumstances. Grupo Elektra operates 550 stores throughout Mexico. It will initiate operations in silver sales and repurchases from the public at five stores in the Cuernavaca area, for the purpose of gathering experience in this field, which is new to the company. National expansion will follow shortly thereafter. An interesting question to ask yourself is "When or under what circumstances would silver ( or gold) be the most valuable? This question poses some interesting aspects because... Since there are too many paper claims outstanding versus the amount of silver or gold available not everyone will be able to shift into a financial asset that has stood the test of five millennia. Sooner or later, nearly everyone everywhere will catch on to the fact that the currency game is drawing to a close, that all fiat currencies are doomed... ... potential for a major silver producer (Mexico) to encourage its people to obtain value based money. A flight from all national currencies into real values is developing and will gain momentum. Ultimately people not government determine what money is and what money is not. July 10, 2001 David Morgan silver-investor.com email: silverguru22@hotmail.com