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n2doc (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 05:37 AM Original message |
Gold, silver coins to be legal currency in Utah |
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the other one (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 06:02 AM Response to Original message |
1. Already legal-tender nationwide |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 06:06 AM Response to Original message |
2. All money is fiction |
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The Magistrate (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 07:17 AM Response to Reply #2 |
8. A Point That Cannot Be Made Too Often, Sir |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 08:10 PM Response to Reply #8 |
14. precisely sir. |
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ergot (253 posts) Send PM | Profile | Ignore | Mon May-23-11 08:35 PM Response to Reply #8 |
16. You are mistaken, gold (and all 'precious' metals) have much intrinsic value |
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jmowreader (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 10:52 PM Response to Reply #16 |
17. Paper also has intrinsic value |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 11:27 PM Response to Reply #17 |
18. Some paper might have "intrinsic value", but it is minimal |
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jmowreader (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 03:27 AM Response to Reply #18 |
31. Paper isn't sold by the ounce. It's sold by the pound. |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 09:23 AM Response to Reply #31 |
52. There is absolutely no way that gold is going to fall to $400 |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 08:36 PM Response to Reply #31 |
64. And on the other hand |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 12:33 AM Response to Reply #16 |
25. Gold has some limited industrial uses |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 12:55 AM Response to Reply #25 |
26. If it's several millennia long |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 05:41 AM Response to Reply #26 |
37. You sound like you own some |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 06:48 PM Response to Reply #37 |
56. Sorry? |
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The Magistrate (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 04:36 AM Response to Reply #16 |
33. It Has Some Industrial Worth, Ma'am |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 05:49 AM Response to Reply #33 |
38. Paper is "worth" far more than normal |
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MattSh (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 04:57 AM Response to Reply #8 |
34. Under that definition... |
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The Magistrate (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 04:28 PM Response to Reply #34 |
43. You Are Conflating Meanings Of 'Value', Sir |
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baldguy (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 07:28 AM Response to Reply #2 |
9. The true value of gold isn't any different from the true value of a chair |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 08:09 PM Response to Reply #9 |
13. at certain desperate points in the economic cycle |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 11:42 PM Response to Reply #9 |
20. That statement is absolutely, positively wrong. |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 05:37 AM Response to Reply #20 |
36. Sorry to poke at your bubble |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 09:30 AM Response to Reply #36 |
53. Nonsense |
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Vinee (421 posts) Send PM | Profile | Ignore | Tue May-24-11 12:56 AM Response to Reply #2 |
27. It seems like it's only fictional when it stops representing goods and/or services. |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 05:19 AM Response to Reply #27 |
35. No, all money is fiction |
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Vinee (421 posts) Send PM | Profile | Ignore | Tue May-24-11 04:00 PM Response to Reply #35 |
42. Carrying around chickens, bushels of wheat, and barrels of oil is a very cumbersome way to trade |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 05:10 PM Response to Reply #42 |
45. Precious metal coinage |
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Vinee (421 posts) Send PM | Profile | Ignore | Tue May-24-11 07:15 PM Response to Reply #45 |
47. Yet gold or silver coins can still be exchanged for the fiat currency of pretty much any country.. |
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Taitertots (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 05:43 PM Response to Reply #42 |
46. Not only is commodity money not necessary, it was abandoned because it was a pathetic failure |
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Vinee (421 posts) Send PM | Profile | Ignore | Tue May-24-11 07:41 PM Response to Reply #46 |
48. Gold traded for $1,526/oz today. Does that sound like an abandoned currency to you? |
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eridani (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 01:52 AM Response to Reply #2 |
30. Bingo. What makes a silly superstition better just because it's been around longer? n/t |
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Snoutport (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 08:21 PM Response to Reply #2 |
62. Pshaw! My seashell disks shall never lose their value! |
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madrchsod (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 06:08 AM Response to Original message |
3. yup...there`s one born every minute. |
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Locrian (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 06:52 AM Response to Original message |
4. The law also will exempt the sale of the coins from state capital gains taxes. |
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Kolesar (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 06:54 AM Response to Reply #4 |
5. The gold buyers won't be able to write off the loss when they sell their gold at a loss |
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no_hypocrisy (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 07:03 AM Response to Original message |
6. How can you use gold and silver as legal currency? |
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The Magistrate (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 07:12 AM Response to Reply #6 |
7. Please, Ma'am: Intrude No Pesky facts On the Gold Bug Fantasy.... |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 11:58 PM Response to Reply #6 |
22. In case you didn't know it, the Federal government is producing gold and silver coins |
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sensate2000 (86 posts) Send PM | Profile | Ignore | Mon May-23-11 07:37 AM Response to Original message |
10. The nation of Deseret mints its own currency |
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Avant Guardian (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 07:57 AM Response to Original message |
11. Why doesn't Utah just toss out all its laws and replace them when RW talking points? |
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Change Happens (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 08:46 AM Response to Original message |
12. John Huntsman idea? |
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roamer65 (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 08:31 PM Response to Original message |
15. Why would I pay anyone in hard currency when... |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 11:52 PM Response to Reply #15 |
21. Absolutely-- Gresham's Law |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 06:49 AM Response to Reply #21 |
41. Minted gold and silver tender *is* fiat money |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Wed May-25-11 01:30 AM Response to Reply #41 |
49. Gold and silver tender is NOT fiat money |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Wed May-25-11 10:44 AM Response to Reply #49 |
51. Yes, it is. It just is. |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 09:37 AM Response to Reply #51 |
54. You don't understand the definition of "fiat money" |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 10:23 AM Response to Reply #54 |
55. Go ahead. Try to spend a foreign-minted gold coin in Utah |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 07:08 PM Response to Reply #55 |
58. Once again, that is not what "fiat money" is |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 08:34 PM Response to Reply #58 |
63. Sigh |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 08:39 PM Response to Reply #63 |
65. For crying out loud |
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roamer65 (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 07:39 PM Response to Reply #54 |
59. You are absoutely right, Art. |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 07:55 PM Response to Reply #59 |
60. I think some people here are making up their own definitions |
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jmowreader (1000+ posts) Send PM | Profile | Ignore | Mon May-23-11 11:32 PM Response to Original message |
19. I read the bill. I don't get it. |
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LadyHawkAZ (800 posts) Send PM | Profile | Ignore | Tue May-24-11 12:10 AM Response to Reply #19 |
23. I've heard rumors from several ex-Mormons |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 12:31 AM Response to Original message |
24. So... after 400 years of Western economics crawling out of the trap of specie-based currency... |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 12:57 AM Response to Reply #24 |
28. Just what the heck is that supposed to mean? |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 06:46 AM Response to Reply #28 |
39. Yeah, it sounds like you don't |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 08:17 PM Response to Reply #39 |
61. And I'd start you off with Hungary, 1946; Poland, 1995; |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 01:30 AM Response to Original message |
29. Gold and silver coins made by Uncle Sam are already legal tender everywhere |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 06:48 AM Response to Reply #29 |
40. Well, sure, but you'd be stupid to use an old coin at its tender rate |
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Art_from_Ark (1000+ posts) Send PM | Profile | Ignore | Wed May-25-11 01:35 AM Response to Reply #40 |
50. Sure, it would be stupid to use them at face value |
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divvy (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 04:14 AM Response to Original message |
32. so ..... trade a pinch of gold dust for a pack of cigarettes? |
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Shagbark Hickory (1000+ posts) Send PM | Profile | Ignore | Tue May-24-11 04:35 PM Response to Original message |
44. It's brilliant! Get consumers to spend more of their savings with a credit card and let the credit |
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sendero (1000+ posts) Send PM | Profile | Ignore | Thu May-26-11 06:53 PM Response to Original message |
57. Unless they are going to base.. |
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