Friday, August 31, 2007

Fiat and gold/silver

The Denarius was the Coin of Rome like the British pound stirling is of Britain and the US Dollar is iof the USA.

It was first struck in 211 BC and last struck around 270-275...They started out 95% silver and ended 0%.

And no one seems to know why coins debase.

Population of the the city of Rome area according the the Roman census.

294 B.C. 262,321

14 A.D. 4,937,000

Population of the USA according to the census in 1790 3,929,214

Population of the USA according to the census in 2000 291,421,906

The census is every 10 years...Current estimate 302,738,220

Population inflation leads to an increased demand for money...

Unfortunately...Silver mines don't seem to be able to fall in love and reproduce...

So a more plentiful replacement was needed to be found to construct coinage out of...Or just kill off newborns at some point since there would not be enough metal produce to construct coins for them...

Or chastity belts...etc.

Unfortunately when you attempt to take away humanity's ability to reproduce and live forever...That is Threat #1 and Humanity rises up to destroy the threat to it's ability to continue existing...

"No, my friends, that will never be the verdict of our people. Therefore, we care not upon what lines the battle is fought. If they say bimetallism is good, but that we cannot have it until other nations help us, we reply that, instead of having a gold standard because England has, we will restore bimetallism, and then let England have bimetallism because the United States has it. If they dare to come out in the open field and defend the gold standard as a good thing, we will fight them to the uttermost. Having behind us the producing masses of this nation and the world, supported by the commercial interests, the laboring interests and the toilers everywhere, we will answer their demand for a gold standard by saying to them: You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold."

--William Jennings Bryan

The USA is a rich person that has a total money supply of 46 Trillion dollars and is inflating that wealth by 11 Billion dollars a day or 1 Trillion dollars every 90 days...127 Thousand dollars a second, 7.6 Million dollars a minute, 458 Million dollars an hour.

In 1792 money was silver. The Spanish milled dollar was the most widely circulating coin in the New World.

"Eagles—each to be of the value of ten dollars or units, and to contain two hundred and forty-seven grains and four eighths of a grain of pure, or two hundred and seventy grains of standard gold."

"Dollars or Units—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenths parts of a grain of pure, or four hundred and sixteen grains of standard silver."

Article I, Section 8.

"To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures."

Congress has the power according to the Constitution to arbitrarily fix or decree (Fiat) the standard of weights and measures in the USA...To coin money of the USA...To regulate the value of all coined money in the USA and of the USA.

That's what Article I, Section 8 says.

A group known as "We the people" gave them that power (Hint: The group known as "We the people" are the persons who wrote the Constitution)

The measure of the Dollar or unit was "fixed" at 371.25 Grains of pure silver.

The measure of the Eagle was "fixed" at 247.50 Grains of pure Gold that was worth 10 Dollars or units.

There are 480 Grains in 1 Troy ounce.

And according to the coinage act 247.50 Grains of pure Gold = 10 Dollars or units which is 371.25 X 10 or 3712.5 grains of pure silver.

480/247.50 = 1.94 X 3712.5 = 7202.25/371.25 = 19.40 Dollars or Units.

In 1792 1 Troy ounce of Gold was equal to around 19.40 Dollars or Units.

Or 2 Eagles = 20 Dollars or Units.

Then factor in..."Cents—each to be of the value of one hundredth part of a dollar, and to contain eleven penny-weights of copper."

So 11 pennyweights of copper = 3.7 grains of pure silver. or one hundredth of a dollar or Unit.

Ultimately a Trimetallic standard.

Silver as money of a "fixed" weight and measure with Gold and copper "fixed" in measure to Silver.

The USA only produces about 180 Thousand ounces of silver a day.

The US dollar as defined by the 1792 coinarge act of 371 grains of pure silver would produce about 232,727 dollars of coinage...

Enough to sustain the rich getting richer or the delusional lifestyles of the wannbe rich and famous you all currently take for granted for about 1.8 seconds.

In 1896 and 1900 The City of London/Bank of England/Rothchilds, sons and friends backed the Gold Republicans led by William McKinley against the Silver democrats led by William Jennings Bryan to get the below passed...

"The Gold Standard Act of the United States was passed in 1900 (ratified on March 14) and established gold as the only standard for redeeming paper money, stopping bimetallism (which had allowed silver in exchange for gold)."

That was the end of the US Dollar or Unit as defined in the 1792 coinage act right there...Checkmate.

The City of London/Bank of England/Rothchilds, sons and friends invented the Gold standard or "London Fix" to basically take over and control the world...

"Be it enacted . ., That the dollar consisting of twenty-five and eight-tenths grains of gold nine-tenths fine, as established by section thirty-five hundred and eleven of the Revised Statutes of the United States, shall be the standard unit of value, and all forms of money issued or coined by the United States shall be maintained at a parity of value with this standard, and it shall be the duty of the Secretary of the Treasury to maintain such parity."

The USA produces about 22 Thousand ounces a day.

Enough to produce 449,782 Dollars as defined in the 1900 Gold Standard act.

Enough to sustain the rich getting richer or the delusional lifestyles of the wannbe rich and famous you all currently take for granted for about 3.5 seconds.

Guess that's why there's the 1997 dollar

"The United States $1 Coin Act of 1997 was legislation passed by the United States Congress providing for a redesigned gold colored coin with a distinctive new rim. A major purpose of the Act was to allow for the replacement of the Susan B. Anthony dollar. The stockpiles of that coin had been depleted to the point that minting new coins would soon be required. The Sacagawea dollar was introduced as a result of the Act."

The current "decreed" U.S. Dollar is...

"The Sacagawea Dollar is the current United States dollar coin. This coin was first minted in 2000 and depicts the Native American woman Sacagawea. The obverse was designed by Glenna Goodacre and the reverse by Thomas D. Rogers."

"Obverse design: Sacagawea with her baby
Reverse design: A bald eagle in flight surrounded by 17 stars (for the number of states in the Union in 1804 at the time of the Lewis and Clark Expedition)."

88.5% copper
6.0% zinc
3.5% manganese
2% nickel

The U.S. Dollar or Unit was decreed (Fiat) in 1792 to be "Dollars or Units—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenths parts of a grain of pure, or four hundred and sixteen grains of standard silver."

The U.S. Dollar was decreed (Fiat) in 1900 "the dollar consisting of twenty-five and eight-tenths grains of gold nine-tenths fine"

The U.S. Dollar wes decreed (Fiat) in 1997 88.5%, copper 6.0%, zinc 3.5%, manganese, 2% nickel.

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