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Thread: 12USC411 does not exist.

  1. #21
    Quote Originally Posted by allodial View Post
    At least in 1964 you could go from the casino to the State of Nevada (a post Civil War "State" (organized district?) nonetheless)--you could get silver coin. Eventually thanks to Nixon & co., you could (from 1971 and after) hope to go from the casino to the nearest Federal Reserve District.





    Related:
    As Chex so fully describes, the dollar is the unit of account.
    The dollar is, in fact, a measurement, like an inch, a gallon, an acre...

    I am trying to understand how a "dollar" can be priced at $1.29 per ounce, {as shown in the article clipping}?
    If a dollar is a unit of measure, & a dollar is 371.25 grains of fine silver, how can it have any other "value" like ~ its equal to $1.29?
    I say its equal to 371.15 grains of fine silver, Period.

    Anything spoken beyond that is nonsense. The dollar can have no relative value. It has already been stated --> in law.

    One could say a gallon of gasoline is priced at $1.29 dollar(s).
    As the monetary unit of measure ALL OTHER items must be priced relative to the dollar, but that dollar could never be priced relative to itself.

    And so today, when somebody states "...the dollar gained ground against the Yen today...", its like saying the "the inch had a much better showing against the yard, today!".
    Nonsense.

    Or am I missing something?

  2. #22
    The U.S. dollar in terms of lawful money is defined per the Coinage Act of 1792. All currency is a unit of measure. Relatedly, a "charge" is an "amount" or a "quantity". As for cyclic redundancies, circular arguments or confusion caused by Congress or by Banksters or by whoever--I'm unaware of making apologies for that. One old treatise suggested that despite the term dollar, pound, peso--any payment in money is effectively 'universal' (i.e. exchange rates).

    It might be worth noting the difference in laws in the territories of the United States and in the organic states which formed the United States. Each Federal Reserve District is likely construed to be a territory of the United States. Also, as I have indicated in private discussions, the British pounds sterling a standard currency in the colonies and possibly before the Coinage Act of 1792.
    Last edited by allodial; 11-14-14 at 01:30 AM.
    All rights reserved. Without prejudice. No liability assumed. No value assured.

    "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
    "It is the glory of God to conceal a thing: but the honour of kings is to search out a matter." Proverbs 25:2
    Prove all things; hold fast that which is good. Thess. 5:21.

  3. #23
    That discrepancy describes what brought on the need for Amendments to the Bretton Woods Agreements.

  4. #24
    Quote Originally Posted by David Merrill View Post
    That discrepancy describes what brought on the need for Amendments to the Bretton Woods Agreements.
    Exactly. It all adds up...or does it? On a Plantation, the servants are still servants no matter how much they Monopoly Money or Cottonbux they pile up. In all of their glee, they still might wonder (and giggle a little ) as to why the Master or his heirs might have such long, sad faces and walk around with holes in their shoes. Did he forget who he is? Did they forget who the are ?

    Quote Originally Posted by Mark Allan View Post
    One could say a gallon of gasoline is priced at $1.29 dollar(s). As the monetary unit of measure ALL OTHER items must be priced relative to the dollar, but that dollar could never be priced relative to itself.

    And so today, when somebody states "...the dollar gained ground against the Yen today...", its like saying the "the inch had a much better showing against the yard, today!".
    Nonsense.

    Or am I missing something?
    In terms of balance of trade between "countries", it could be significant. On that note, the idea of speculating in currency seems a bit sketchy. However, IMHO to really get a grip on money one ought to comprehend seigniorage and is significance.
    Last edited by allodial; 11-14-14 at 02:10 AM.
    All rights reserved. Without prejudice. No liability assumed. No value assured.

    "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
    "It is the glory of God to conceal a thing: but the honour of kings is to search out a matter." Proverbs 25:2
    Prove all things; hold fast that which is good. Thess. 5:21.

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