GOLD!

[LOGDOG]

 Quote from Ron Paul:
Ron Paul: No, I think your point that you're making is right. You're still going to have certificates or you're going to have electronic entries. There are people today who are trying to promote this idea through electronic gold, but the problem is the legal tender laws force us to use dollars in all settlements, so one of my goals in Washington to move in that direction would be to repeal legal tender laws. Actually, all we need to do is obey the Constitution because it's still very clear it hasn't been repealed that only gold and silver can be legal tender. Believe it or not, they don't even obey the Constitution anymore.
http://www.ronpaul.com/2009-02-01/going-back-to-the-gold-standard/  ...video and transcript found on the link.

[SwampDonkey]

I was at a market at a recreational centre in Maine one time. They wouldn't make change on purchases. The scam was that you had to go to the concession stand for a hot dog or something to make change. I left that place after giving them a few words. :D

[ARKANSAWYER]

  Well there is not enough gold and silver to go around for legal tender but I barter more every day.
  There are some who tell me that I am just worring about nothing and the sky is not falling.  "It can not happen here" is a fine belief.  But when you look at history it can happen any where at any time.  Just let the stock market have another bad week or two and when the GOV can not borrow more money to "bail" them out what is going to happen? ???  This morning the news was talking about a slow down in the recovery and that we may be in a double dip after the recovery of 2010.  We are a bit behind times here but we missed the recovery of 2010.  They were talking the gas was going to drop $0.50 a gal due to low oil prices and low demand.  Do not need gas when you have no job to go to and no money to go and do any thing else.
  The sky may not be falling but she is getting pretty DanG low.  A motto I learned in the Army was "Prepare for war but, pray for peace!"

[LOGDOG]

I would totally agree with you ARKY that it "can" happen. I include it in my thought process, although I try not to dwell on it if that makes sense. In my own life I've found that dwelling on it tends to make me more pessimistic and pull my spirits down.

My personal thoughts on an uprising? It won't be the stock market having another bad week or two that leads to riots in the streets (unless it was horrendous). What will bring the riots in the streets is when the Government finally realizes it cannot continue paying all these entitlements to people that don't want to work or pay for them. All these people who are on the Gov't teat will be ticked off. Just look at how the teachers revolted in WI when they were told they needed to pay "something" towards their retirement benefits. And teachers for the most part, (one would think) are decent law abiding, civil people. But that turned them into raging lunatics that were telling people to pray for the death of Governor Walker. Nice huh?

Other scenario .... The USA and our dollar gets removed as the World Reserve Currency just  like the British Sterling did about 60 years ago. Now we can't print money like we are. Prices here go up, taxes go up, people's money is devalued. You want to talk about people being upset? That'll do it.

I agree, to say that it "can't happen" is foolish. Of course it can. It's happened all over the world for centuries. Two books that I recommend y'all read. "End Game" by John Mauldin  and "This Time Is Different: Eight Centuries of Financial Folly" by Ken Rogoff and Carmen Reinhart.

Money has an inescapable law built into it: Handle it poorly and it goes away from you. Handle it well and it multiplies. The Government and the Federal Reserve Bank have not handled it well. By the way, the Federal Reserve Bank is neither "Federal" nor does it have "Reserves". Did you know that?

[LOGDOG]

I found this video interesting this afternoon. It's the history of the American Dollar.

http://www.youtube.com/watch?v=1FiaUpeJxcA

...still looking for part 2.

[Dean186]

Interesting video - thanks for posting.

I found part 2, but received the following message:


"Money - A Brief History Of The American Dollar - Part 2 of 2"
This video contains content from EMI, who has blocked it in your country on copyright grounds.

The link is:

http://www.youtube.com/user/JohnFromChicago#p/a/u/1/FbyQB8e-rQg

[LOGDOG]

Yep, that's the same message I got Dean. Maybe I'll subscribe to his channel and ask if there's a way to get part two. I thought part one was very interesting.

[ARKANSAWYER]

  Maybe then we do not need much gold.  The silver and gold gets to be worth more then the dollar is worth less which is what we are seeing.  When a man will work all day for a silver dollar and he can buy a new truck for 300 of them then things will be adjusted.  Work all month for a double eagle and you are doing well.  I liked the video and it was very good information.  My GrandPa used to hack ties for 2 bits each.  If he made $300 a year he did was comming on up.

[LOGDOG]

How much was a "bit" back then Arky?

[Cedarman]

2 bits, 4 bits, 6 bits,  a dollar, all for the forum stand up and holler :D :D :D

[PC-Urban-Sawyer]

"States and businesses aren't mandated to take it as payment for goods and services"

Does this mean that they can take other forms of payment or that they do not have to take cash if they do not want to?  My money says it is legal tender for all debts public and private.  Can a business refuse to accept my cash as payment and require me to use a credit card?  I am thinking that before the purchase they can require whatever form of payment they want.  But if we have a bill come due, then we can always use cash money to pay it if we choose to.

The local Enterprise auto rental operation will not accept cash. They will only take credit cards, debit cards and "approved" local checks...

[LOGDOG]

PC-Urban_Sawyer ...interesting you bring up Enterprise. I just rented a Lincoln MKX from their. While I was waiting I heard them say on the telephone that if you're using a debit card you have to bring in two different utility bills that show you're current. Neither bill can show an overdue balance owed etc. Seemed a bit offensive to me. Like you had to prove you're not a dead beat just because you were using a debit card.

[SwampDonkey]

They want credit cards and such in case you steal or trash the car, they can charge your card for damages. With cash, you are gone and someone has to hunt you down. That's the logic behind it.

[Magicman]

They want credit cards and such in case you steal or trash the car, they can charge your card for damages. 

I guess that option must be in the rental agreement??

[LOGDOG]

....And what if you have an insufficient credit line on your card to cover the possible damage? Then they're in the same boat ...hunting you down again.

[Dodgy Loner]

True, but unless you stole the credit card that you gave them, they know who you are. There is a lot more anonymity involved if you are using cash. All you would need is a fake driver's license to get out of the lot with a car without them knowing who you are. Requiring the credit/debit card or check just adds one more barrier to make the transaction more secure. Although I'm not sure why they wouldn't do like hotels do - let you pay in cash, but leave a credit card in case of "incidentals".

[SwampDonkey]

Hunting you down, in the context I was using it, means you are anonymous and/or using fake ID. If it's a legit credit card, cheque or debit card they know where to come looking.

[ARKANSAWYER]

Well again today the stock market went down and Gold hit a new record. 
  I went to a gas station up in MO a while back and they would not take cash.  Check or card but no cash.  They would even take a out of state check but no cash.  Here in town we have a station that will take cash or checks but no cards.  Me I am going cash or barter.