Abolish the Fed

[bobbinville]

An interesting fact about the Spanish Milled Dollar -- or, more properly, the 8 Reales piece -- is that, due to a lack of fractional coinage (there were 1/2 Real, 1 Real, 2 Real and 4 Real pieces; but most of the silver went into 8 Reales pieces (and gold into 8 Escudo pieces). If you needed change -- you took out a chisel and cut the coin into as many as 8 pieces, or "bits", each worth 1 Real. If you had a quarter of an 8 Reales piece, then, you had 2 Reales, or "two bits".

BTW -- many European countries used coins of this size as a standard. In fact, if you look at David Merrill's avatar, you will see the Maria Theresa Thaler -- so renowned for its weight and purity that it was often imitated by other countries, and was struck by the Austrians well into the 20th century because certain Arab tribes insisted on them, and only them, as a means of exchange.

[JohnnyCash]

Ah, the 1780 Maria Theresa Thaler. An estimated 800 million of these MTTs were minted continuously since 1780 all bearing the same date. Restrikes. Renowned for its weight and purity? With a fineness of only .833 silver they're heavier than our dollar yet contain less silver as the US dollar is .900 silver (although some MTTs have been minted at .999 fine).

http://www.ebay.com/gds/1780-Maria-Theresa-Silver-Thaler-Restrike-Trade-Coin/10000000001669778/g.html

[David Merrill]

Ah, the 1780 Maria Theresa Thaler. An estimated 800 million of these MTTs were minted continuously since 1780 all bearing the same date. Restrikes. Renowned for its weight and purity? With a fineness of only .833 silver they're heavier than our dollar yet contain less silver as the US dollar is .900 silver (although some MTTs have been minted at .999 fine).

http://www.ebay.com/gds/1780-Maria-T...1669778/g.html

I like the Hapsburg eagle on the obverse. This represents the dichotomy of identity inherent in pseudonomania. The suitors' Lesson Plan is:

1) Identity (capital integration)
2) Record-forming (court of competent jurisdiction)
3) Redeeming lawful money (redemption from false balances)

At the heart is a pentagram cut topaz. I used a red laser to highlight the stone as redemption being atonement of the two heads eating at the dichotomy like a poison in the stomach of the disease.

[bobbinville]

Yes, renowned for its weight and purity. The people of that era were less concerned about the fineness than they were about its consistency. Many people knew of coinage that was continually being debased; and they knew that when they got a MTT, they could rely on the fact that it was of the correct weight and fineness.

The date was never changed from 1780 because many people relied on the fact that a MTT with that date was the same as any other (any of .999 fineness are NOT circulation strikes). Other countries tried to imitate the MTT (the Italian tallero comes to mind); but none ever replaced it.

[JohnnyCash]

Consistency? The MTT started out in 1741 with a silver fineness of .875 http://en.numista.com/catalogue/pieces39150.html and was debased to .833 silver by 1780. In contrast the American silver dollar has never been debased.

[bobbinville]

Consistency? The MTT started out in 1741 with a silver fineness of .875 http://en.numista.com/catalogue/pieces39150.html and was debased to .833 silver by 1780. In contrast the American silver dollar has never been debased.

Yes, consistency. Since 1780, the fineness of the MTT, or at least the ones truck for circulation, has remained constant at .833. THAT is the coin which became so popular. It's also why the date remained at 1780, to show that it was of a higher fineness than the pre-1780 issues. Indeed, most 19th century silver coins were of a consistent fineness; and it was only after World War I that billon coinage began to appear in the UK and elsewhere, because of the need to repay war debts.

Those European countries which did adjust the fineness of their coinage did so mostly to adjust to the standards of the old Latin Monetary Union. France, Italy, Switzerland, Belgium, Spain, Greece, Romania, Bulgaria, Venezuela, Serbia and San Marino, plus others, harmoized their coinage so that, for example, in Switzerland you were likely to get French francs or Italian lire in change, instead of Swiss issues. The LMU was abolished in 1927 due to debasement in some countries, plus an overvaluing of silver in relation to gold. The Swiss coinage, through 1967, was the last kind struck to LMU standards.

[JohnnyCash]

[bobbinville]

And yet you fail to refute any of it. I'll stack my numismatic knowledge up against yours any day.

[JohnnyCash]

Ah, now we begin to see the real bobbinville. No, I do not believe you are a coin collector. Anyway my earlier quotes were the opener for an excellent piece by Michael Henry Dunn, very appropriate for today:

http://jhaines6.wordpress.com/2013/07/03/the-echoes-of-gettysburg-by-michael-henry-dunn-july-3-2013/

I am bringing your cartel down [redacted], you can take that to the bank.

[bobbinville]

You can believe what you want, Johnny. That's easier than accepting the truth. As for your remark about "Jay" who is he? That's neither my name nor my handle.

[David Merrill]

You can believe what you want, Johnny. That's easier than accepting the truth. As for your remark about "Jay" who is he? That's neither my name nor my handle.

Please, JohnnyCash? Can you allow for a much wider world than Jay? I am pretty convinced that Jay is busy with a much more interesting career as a Texas attorney! You can PM me any direct evidence of course but otherwise you seem unrealistic and unbalanced to assume anybody with a "Q"-sounding perspective is Jay or even from "Q".

Recently a member here was adamantly spouting worn out patriot mythology and it seemed that he was on a mission to disrupt with useless doctrine. I banished him and he just grabbed a new monaker and registered again. I have better things to do and hopefully so do you. BTW it turned out he just wanted to share his opinions before reading and realizing that Redeeming Lawful Money has its basis in law, the Federal Reserve Act and so now things are good. [I reinstated him under the first handle.] I am not shut down to new ideas and opposing opinions. But shunning somebody with lightly evidenced accusations is hurtful and way too easy to do over the Internet and in chat rooms.

Please be careful how you treat others!

[JohnnyCash]

Oh, I'm sorry. Seems to be a bad habit of mine, won't happen again. I hereby issue a formal apology to anyone I have ever called Jay who is, in fact, not Jay.

I don't favor banishment either (accept in extreme cases). I've learned much from the opposition and the fact they are here provides a level of comfort that you & the suitors are on the right track to remedy and freedom.

[bobbinville]

It could also mean that the dissenters are simply curious about what you have to say, and want to see things firsthand. In my case, I joined just so that I could offer comments if they were helpful without being confrontational or argumentative.

[John Howard]

https://www.facebook.com/photo.php?fbid=186529491399812&set=a.186529488066479.58524.100001282875853&type=1&theater

[David Merrill]

I like the link!