12 usc 415

[shikamaru]

I think that goes to US notes being fiat currency. As I understand that to mean bank notes - currency with no intrinsic value.

But what does it mean to have "intrinsic value"?
What is value? How is it defined? What is its nature and criteria?

[David Merrill]

I meant metal.

[shikamaru]

I meant metal.

Aside from industrial and ornamental usage and its de facto universal acceptance, what value is gold or silver?
You can't eat it. It gets heavy after a few ounces.

The true value, I assert, of gold and silver specie is its de facto universal acceptance for commerce and exchange, not its "intrinsic value".

[Chex]

Aside from industrial and ornamental usage and its de facto universal acceptance, what value is gold or silver?
You can't eat it. It gets heavy after a few ounces.

The true value, I assert, of gold and silver specie is its de facto universal acceptance for commerce and exchange, not its "intrinsic value".

The destruction or damage of certificates won’t hurt investors and is mainly a “nuisance” for the DTCC, James Steven Rogers, a professor at Boston College Law School, said in a telephone interview. He was the principal drafter of the 1994 revision to the commercial law of investment securities that deals with issues such as what happens when a person has lost a certificate.

“In equity securities the presence or absence of the piece of paper is essentially irrelevant,” Rogers said. “If someone can by other means prove the ownership, they can work it out. It might just be a nuisance to replace the certificates. It has no systemic impact on markets.”

Read more: Stock, Bond Certificates in DTCC Vault Damaged by Sandy Flooding : http://www.moneynews.com/FinanceNews...1/15/id/464251

[David Merrill]

Aside from industrial and ornamental usage and its de facto universal acceptance, what value is gold or silver?
You can't eat it. It gets heavy after a few ounces.

The true value, I assert, of gold and silver specie is its de facto universal acceptance for commerce and exchange, not its "intrinsic value".

The simple facts are difficult to argue. I can eat small pieces of gold though. I just have never done it.

So I may be getting your point incorrect.

I have spent a little time and believe that fiat began in America post-Constitution in around 1815 - the War of 1812 Era it is called. So I still believe it is Emergency-based but have proposed for a while that it was 1861, that Emergency. I was trying to find somebody who could show me differently with that assertion and finally got some better information.

The American Numismatic Association - the exhibits are - Money of the Civil War and The History of Money.

[shikamaru]

Don't get me wrong ....
I'm a big fan of precious metals .

I'm just saying let's keep things in perspective. Gold and silver specie are tools. Tools to be utilized.

[David Merrill]

I am just saying that you tempt me; I might try eating some.

[stoneFree]

Here ya go: http://en.wikipedia.org/wiki/Goldschläger