It's the only Constitutionally recognized money already. . They robbed us of gold in 1933 and removed our silver coins in 1965. ..fiat is trash. . Bitcoin is a trap. . .gold and silver ARE MONEY!!!
yes it is . the problem is 1 dollar is One dollar . one gram of gold is $150 give or take . one troy ounce is $2,760. the government was already complaining about costing 11 cents to make a penny .
You think there is enough gold to back the current amount of USD? No, there isn't. But if you actually learned how banking and currency work on an elementary level then you'd know current system is actually superior and has allowed for the literal creation of the middle class we know today. The new breed of Republicans don't seem to be informed on the subjects they opine about, and the leaders they bow to are trying to destroy the middle class in favor of a new oligarchy. It's why Trump is backed by the most wealthy elites.
Gold and silver will never be currency. Because golden and silver are already money. Everything else is debt. This so-called economist in this clip who says that when prices go up gold goes up too, is missing the point . When prices go up, that means the value of the dollar is going down. Because the numeraire is gold. It is what all things monetary are measured against. Gold and silver are already money. And anyone who has a brain in their head knows that they will always be used as money. Money is not currency, and currency is not money. Fiat Currency loses value over time and money does not. Gold and silver will always be worth something because they are money. Or as JP Morgan once said: “ gold is money, everything else is credit.” He knew !!
The United States Mint has been making American Gold Eagles, American Gold Buffalo's and American Silver Eagles that are all by law in our Constitution as legal tender money. It's already lawful money.
yes but the face value is way toooooooooo low, so who would be going to a store to spend $50 with a 1oz gold coin and that is the face value of that 1 oz gold coin
@@Zach________ that is the problem with gold and silver, if the US government put a face value of 1 oz silver lets say at $20 even though now silver is at $30 or so, these metals are so liquid, the price of silver could fall to $12 again like a couple of years ago and people would be giving the government those 1oz silvers back to get their $20 and that is the problem why we cannot use gold or silver as a currency because the price of them goes up and own way too fast, which make these metals impossible to use them as a currency, the same way we will never ever use cryptos as a currency to buy everyday things, unless they move like normal currencies, it is not possible
My one once Silver buffalo round is worth the same amount as the one ounce silver eagle. Yet the silver eagle cost more because of some ridiculous connection to the government.
It's been a form of currency all over the world for thousands of years, just go back in the annals of history. It's not that hard or difficult to figure out. If businesses have accepted crypto currency as currency, which has no physical proof or reality, then physical gold and silver can certainly be used. Go CFO Jimmy Patronis for doing your research!
You're not using gold as a currency. Gold is money and you buy things with money or currency. Currency would be purchasing something with a federal reserve note.
I mostly bought a car with silver. Paid and listed $100 on the Bill of Sale thus only paid tax on that amount. Paid the remainder in silver bullion. Also, did the transaction at my bank as most banks allow customers to use a spare office for such transactions.
*Excellent analysis, I have never seen an analysis as well structured as yours. Look, I have been investing in Bitcoin ETFs and other dividend income since 2020, I have a total of 734 thousand dollars, with my 83 thousand I am very grateful for all the knowledge and information you have given me.*
Buy and hold is risky because no one knows what the market will be like in the future, so it is better to trade rather than buy and hold, because in the process of buying and holding you can lose everything when the price falls against your expectations.
👍👌indeed... In the Bibel and other historical Books are many facts witch buypower have an 3g 555er Plate. The buypower was 1x donkey. This means today for one onze of pure 999er silver is near about 900USD. (Fair historical value)
@@chuckicha You can't buy a dead donkey for one ounce of silver. The problem is silver is not a rare metal. It was more so in Bronze Age and early medieval Europe but once Europeans conquered the New World they found literal mountains full of the stuff.
Goldbacks are excellent if you like paying absurd premiums. Their declared value is so far over their actual gold content that they're just a sort of quasi-fiat currency.
@@jy9383 It's a very safe bet that criminal gangs and/or hostile foreign states have already figured out a way to make passable counterfeits of goldbacks.
Are they easier to fake than a regular $20 because they already do that anyway, but we still use the $20. The government doesn’t have to literally plate the money with gold or silver like the bullion dealers… it can simply be backed by gold or silver. Let’s not over complicate things.
The problem is getting credit from the bank. A law should be passed: anyone who wants to get credit from a bank should receive physical gold or silver from the bank, then sell it wherever they want. That's how you stop inflation and stop putting money into the game.
It amazes me as a Canadian that so many Americans don’t even know that in the U.S constitution it states that, “only gold and silver shall be used as money”…..Look for yourself if you don’t believe me.🤔😉👍🏻👍🏻🇨🇦🇨🇦
Thank you for a bad quote. "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility." US Const. Art 1 sect 10 clause 1. Notice the language where it says "No State shall." This language doesn't bind the federal government which was given a general power to coin money. The states accepting the money coined by the Federal Government isn't a violation of this clause either. Otherwise it would undermine the very purpose of granting it the power. -- It merely limits the states.
I thought the Constitution right from the start reads that states cannot accept any thing except gold and silver (coin) as legal tender for debts? So would this even be necessary?
It’s the only things consider money. Has been since the constitutions inception. It’s crazy how they took gold and silver real money and made them commodities. Then tax you on real money which technically is illegal to do.
@@BlackSilverTreasurewhat are u talking about? they are not popular but they are totally legit and have a fraction of on oz in each bill. Golbacks exist in a few states already. saying they are a scam is idiotic
@@BlackSilverTreasure Wrongo. I've spent more than 100 of them in MA and NH in 2024. Made about 10% every time due to prices rising. Had to buy more recently. AND, they just released 'em in FL. Check out how many businesses are signed up and asking for goldbacks over dollars on their website. You get an F on your homework.
@@BlackSilverTreasureWho told you that? It's abundant, but there's still not enough of it. It's all of the unbacked paper trading distorting the value of them both.
Silver production hasn't met Demand for 4 years. The price is suppressed..some believe,as I do, the US military among others is suppressing. Every Tomahawk Missile requires 500 oz. Once exploded the silver is unrecoverable
But who's really listening... only a chosen few,because everyone else is still trying to get Fiat... rappers posing with stack's of paper 😂😂😂😂😂😂us in the comments are ahead of the game investing in real currency.
Wait a minute. Coins used to be minted in silver. Today a dealer refers to the old coins as junk silver, but they are silver and they used to be in circulation.
The law was never changed in United States Code, Gold, Silver, Copper, and Nickel IS our monetary system that runs parallel to the Federal Reserve System
This could easily be done with a centralized precious metals banking system. Customer metal would be held in the bank, just as cash. This would allow the customers to save in metal and effectively eliminate the erosion of wealth that is occurring currently due to inflation. Then, when they are ready to make a purchase they could use a debit card to pay for goods. The merchant could take payment in metal or convert the metal to dollars.
Have a virtual gold and silver account with a financial institution and they have a debit card linked to that account, they subtract the amount of ounces you spend in dollars.
It’s not physical gold. It’s an exchange where you store the gold and silver. That exchange issues a card and the amount available is based on current spot. No additional tools or staff required for the merchant.
The U.S. has been off of the gold standard since 1933, "thanks" to FDR. Silver-backed U.S. currency ceased to exist after 1964, the same year silver was primarily removed from circulating U.S. coins (the exception being 40% silver Kennedy half-dollars from 1965-69 -- ones were produced in 1970 but not circulated and only available in mint and proof sets). We're not going to back to any sort of precious metals-type of consumer goods and services commerce.
Not use gold or silver but just use a gold and silver base for a state digital currency and let people negotiate gold or silver as a currency in their own.
It's a shame Fox 13 didn't mention Goldbacks. As this is what the company's sole aim is. And it's already in 5 states. These notes already address a lot of the short comings of using gold coins or bars.
Without a stable price for gold, only a gold based digital currency makes sense. The value of the currency will change day, but much easier for transactions.
It would be a matter of being able to pay taxes and other government fees with precious metals before it can come back to being normal. Gold and silver are legal money according to the Constitution of the United States of America.
There is not a currency in history that has lasted more than a century. And yet Gold and Silver have been used as money for exchange for thousands and thousands of years.
Gold and silver ARE legal currency. I literally use silver bullion every day to buy whatever I want to buy. Today I used a 1/10th oz silver maple to buy my breakfast.
The guy who says there would have to be a specialist at every checkout, he obviously has never seen pennies, nickles, dimes, or quarters. Here in Canada we have one and two dollar denomination coins. All the state of florida would have to do is mint a gold coin. It's not a radical idea by any means.
A government that uses money not of their own is no longer a government they are a corporation. Gold and silver are constitutional money and considered money whereas Fiat currency is not considered money it’s considered an IOU or a debt a note United States is a dual banking system.
The constitution says gold and silver are legal tender. FDR outlawed the constitution during his term. My father and grandfather used this. It needs to come back.
The thing I find disturbing is that the Mint states a “Dollar” vale on this items that have no bearing on reality as to their “Actual Value” … That is, I stand with a Silver Eagle (1 ounce, pure 99.9%) which has a Market Trade Price of $31.00+ and it proclaims that it is $5. I don’t understand why they put denominations on these things. I do understand that Paper Currency is of no True Value but …
Gold and Silver are United States Constitutional Money. The federal reserve notes in your wallet is Currency. The Currency was backed buy Gold and silver once upon a time in American history.
You could buy luxury goods with just a few gold coins depending on half ounce quarter ounce full ounce instead paying with a bunch of hundred dollar bills. It be easier to pay for things with Gold or silver real money.
It would be absurdly impractical. An average gas station might take in north of $15,000 in a given day. That would work out to almost 500 ounces of silver each and every day. They would probably need another 500 ounces on hand of smaller silver bullion or coins to make change. A huge, huge incentive for armed robberies. So that's around 11,000 pounds of metal that has to be stored and transported under armed guard each year, hand counted, re-shipped to each of the businesses creditors and vendors, again under armed guard, checked for counterfeit etc. Multiply all this by thousands of times for large and high revenue business. There are reasons why people came up with forms of paper money even long before fiat currency was a thing. Going back to the Templars in medieval Europe and before, people came up with paper instruments to transfer money around because moving precious metals in bulk was a logistical nightmare.
All these people dont know nothing. Gold and silver has always been money. Metals dont depend on fiat. If they read their history 90% gold coinage was in circulation until 1933 and 90% silver coins were in circulation until 1964 and 40% silver coins until 1969. Silver and gold certificates were issued for about 144 years until 1933.
There are some misleading statements in this story . First Gold and Silver are not Investments , they are Hedges . For those of you that don't know the difference , an Investment means you can possibly make a profit in the future . A Hedge is something that protects you from inflation . Also Gold and Silver ARE MONEY as defined by The Constitution . The paper and clad stuff in the bank and in your pocket are a representation of currency (not money). It would be very hard to bring Gold and Silver back as Currency because there is a limited amount of each . The value would have to be astronomical ( like $25,000 for a gram of Gold and $5,000 for a gram of Silver ) just for example . And they did not talk about Numismatic Values in this video and that is a whole different prospective on Precious Metals , it is kind of a gamble , you can make a profit or loose big .
Just saw a video on a product called goldback. Its like paper money notes but its very thin gold that has been applied to other plastic type materials or something and it apparently is very difficult to counterfeit like regular dollar notes are. Looks very interesting, people are using it already
They at first have to go back to printing on the bill redeemable for gold or silver and then you go to the bank and get the physical gold and silver with the certificates
People have always been able to use gold and silver as currency , even today if you hand the cashier a gold or silver coin , he/she have to take it because it is ( legal tender ) 😮
There are precious metal scanners already. If they merged that tech, into what is already in place at many store, where you insert cash into slots then they could be scanned and accepted. I have a good portion of my portfolio has already been invested into Goldbacks, even though I reside in NY state.
That's what it says in the us constitution. Article 1, section 10.!!! Maybe people should read it. When you USE it, prices go down. When you don't, prices go up. What a concept.
Of course the government wants to make gold and silver legal tender. Then you'll have to pay tax on it. If i sold you my house i paid $20k for for $500k I'll have to pay a Capital gains tax however if i traded you my house for $500k worth of gold and/or silver. We just bartered and traded assets because technically i didnt make any money off it.
yep sad but true gold and silver will never be use as a currency to buy stuff to shop in person. I only see crypto doing that and taking over paper money soon as more and more people use crypto.
There's already a commodity money that works better than gold/silver and is actually truly scarce. Bitcoin fixes this. It's like digital gold, and can be easily verified through technology. And it is divisible. If they do allow gold to be used as currency, all they're doing is collecting gold from the population so they can sell it off when the government sells off much of their gold reserves to obtain Bitcoin.
So someone does not know the history of the world.... we literally had this 50 years ago and can still buy silver and gold legal tender in the form of silver are gold American Eagles... the Canadian Mapleleaf, etc...
It's completely impractical, especially paying in bullion. Gold-backed crypto is completely viable though because the (private) issuer of the currency would have the means to test the gold and get around the many scams out there.
Fun fact. Gold and silver are actually the only constitutionally legal forms of tender.
❤Truth!❤ Most people have never read the Constitution.
Article 1, Section 10.
@fullstackcrackerjack 🤣😂
Interesting Fun Fact. 🤔
and copper
Gold and silver are the only real money
Only a sith deals in absolutes
for the super rich & wealthy 🤡
most people never even see money with deposits and check to check basis
@@josephmedina6403 I'm not wealthy,... yet I hold.
It's the only Constitutionally recognized money already. . They robbed us of gold in 1933 and removed our silver coins in 1965. ..fiat is trash. . Bitcoin is a trap. . .gold and silver ARE MONEY!!!
yes it is .
the problem is 1 dollar is One dollar .
one gram of gold is $150 give or take . one troy ounce is $2,760.
the government was already complaining about costing 11 cents to make a penny .
Put the U.S. back on the gold standard
You think there is enough gold to back the current amount of USD? No, there isn't. But if you actually learned how banking and currency work on an elementary level then you'd know current system is actually superior and has allowed for the literal creation of the middle class we know today. The new breed of Republicans don't seem to be informed on the subjects they opine about, and the leaders they bow to are trying to destroy the middle class in favor of a new oligarchy. It's why Trump is backed by the most wealthy elites.
Look up Goldback. It already exists
the advisors act like this will happen overnight .
@dm46231 Why?
@Saltydiddler go. Reverse the federal reserve and go back to private banks
Gold and silver will never be currency. Because golden and silver are already money. Everything else is debt.
This so-called economist in this clip who says that when prices go up gold goes up too, is missing the point .
When prices go up, that means the value of the dollar is going down.
Because the numeraire is gold. It is what all things monetary are measured against. Gold and silver are already money. And anyone who has a brain in their head knows that they will always be used as money.
Money is not currency, and currency is not money. Fiat Currency loses value over time and money does not.
Gold and silver will always be worth something because they are money.
Or as JP Morgan once said: “ gold is money, everything else is credit.”
He knew !!
Wallstreet rich people are crooks@@_outofphase5480
@@libertyforever836 Gold and silver has been money since the beginning of civilization, gold and silver is great
Bang on
@@_outofphase5480
Where does it say that crooks have to be stupid?
@
We are in complete agreement . And they are still money as far as I’m concerned. And what makes the money as they do not lose value over time.
“Gold is money, everything else is credit.”
Silver has been a trading monetary commodity for 6000 years!!!!
The United States Mint has been making American Gold Eagles, American Gold Buffalo's and American Silver Eagles that are all by law in our Constitution as legal tender money. It's already lawful money.
yes but the face value is way toooooooooo low, so who would be going to a store to spend $50 with a 1oz gold coin and that is the face value of that 1 oz gold coin
Yea the coins have a face value of one dollar when they’re an oz of 24k gold that are worth $2700
@@Zach________ that is the problem with gold and silver, if the US government put a face value of 1 oz silver lets say at $20 even though now silver is at $30 or so, these metals are so liquid, the price of silver could fall to $12 again like a couple of years ago and people would be giving the government those 1oz silvers back to get their $20 and that is the problem why we cannot use gold or silver as a currency because the price of them goes up and own way too fast, which make these metals impossible to use them as a currency, the same way we will never ever use cryptos as a currency to buy everyday things, unless they move like normal currencies, it is not possible
My one once Silver buffalo round is worth the same amount as the one ounce silver eagle. Yet the silver eagle cost more because of some ridiculous connection to the government.
The face value for a silver eagle is 1 dollar, the silver in that coin is worth around 32 dollars
It's been a form of currency all over the world for thousands of years, just go back in the annals of history. It's not that hard or difficult to figure out. If businesses have accepted crypto currency as currency, which has no physical proof or reality, then physical gold and silver can certainly be used. Go CFO Jimmy Patronis for doing your research!
Don't sell your gold or silver they wanna take everything away in history or HIS- STORY
Gold and silver are money. They are not currency.
People have been using it as currency forever. I remember my dad bought a new car with gold from the dealership.😊
The car devalued.... And the gold went up.
You're not using gold as a currency. Gold is money and you buy things with money or currency. Currency would be purchasing something with a federal reserve note.
Gold stayed the same. The car and the dollar devalued against gold.
@@curlyhairdudeify yeah but the gold can't get you to work or the grocery stores, the car can. The two assets have different functions.
I mostly bought a car with silver. Paid and listed $100 on the Bill of Sale thus only paid tax on that amount. Paid the remainder in silver bullion. Also, did the transaction at my bank as most banks allow customers to use a spare office for such transactions.
Banks already consider gold as a tier 1 asset
3 tiers
@@josephmedina6403 correct…
*Excellent analysis, I have never seen an analysis as well structured as yours. Look, I have been investing in Bitcoin ETFs and other dividend income since 2020, I have a total of 734 thousand dollars, with my 83 thousand I am very grateful for all the knowledge and information you have given me.*
6 months, $17k invested and almost there too!!
Next year, I'll reach $185k.
And what have you been doing during this time? Trading or maintaining?
Buy and hold is risky because no one knows what the market will be like in the future, so it is better to trade rather than buy and hold, because in the process of buying and holding you can lose everything when the price falls against your expectations.
How did you do this please? I am new to investing in cryptocurrencies, can you please guide me on how to do this?
It is advisable to seek professional guidance when creating a solid financial portfolio due to its complexity.
the Gold to Silver ratio would have to change, and silver would go uP!
The futures market would become obsolete.
Nope, Florida gold and silver backs already exist
👍👌indeed... In the Bibel and other historical Books are many facts witch buypower have an 3g 555er Plate. The buypower was 1x donkey. This means today for one onze of pure 999er silver is near about 900USD. (Fair historical value)
@@chuckicha You can't buy a dead donkey for one ounce of silver.
The problem is silver is not a rare metal. It was more so in Bronze Age and early medieval Europe but once Europeans conquered the New World they found literal mountains full of the stuff.
@@newsnowmetrodetroit4830 That's a scam , no thanks
Just make goldbacks and silverbacks.
Pretty simple. They already make them.
Goldbacks are excellent if you like paying absurd premiums.
Their declared value is so far over their actual gold content that they're just a sort of quasi-fiat currency.
Those can be fake even easier
@@jy9383 It's a very safe bet that criminal gangs and/or hostile foreign states have already figured out a way to make passable counterfeits of goldbacks.
Are they easier to fake than a regular $20 because they already do that anyway, but we still use the $20.
The government doesn’t have to literally plate the money with gold or silver like the bullion dealers… it can simply be backed by gold or silver. Let’s not over complicate things.
@@kenofken9458They are also nice pieces of art along with being stackable and bartered with often
The problem is getting credit from the bank. A law should be passed: anyone who wants to get credit from a bank should receive physical gold or silver from the bank, then sell it wherever they want. That's how you stop inflation and stop putting money into the game.
It amazes me as a Canadian that so many Americans don’t even know that in the U.S constitution it states that, “only gold and silver shall be used as money”…..Look for yourself if you don’t believe me.🤔😉👍🏻👍🏻🇨🇦🇨🇦
I know and I'm American... It's Article 1, Section 10 of the US constitution!!
Thank you for a bad quote. "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility." US Const. Art 1 sect 10 clause 1.
Notice the language where it says "No State shall." This language doesn't bind the federal government which was given a general power to coin money. The states accepting the money coined by the Federal Government isn't a violation of this clause either. Otherwise it would undermine the very purpose of granting it the power. -- It merely limits the states.
Legal? It's the only money recognized by the constitution.
My thoughts exactly!
Florida is already launching gold back, this in digital currency will be the future
Digital currency is not real money is a trap by the government.
Gold/silver = real money!
The US Constitution states: “No state shall make any thing but gold and silver coin a tender in payment of debts"...
I thought the Constitution right from the start reads that states cannot accept any thing except gold and silver (coin) as legal tender for debts? So would this even be necessary?
It’s the only things consider money. Has been since the constitutions inception. It’s crazy how they took gold and silver real money and made them commodities. Then tax you on real money which technically is illegal to do.
Gold and silver should be legal currency through out the United States.🤑🤑🤑
Goldback Inc. Has created Gold money. The Florida Goldback will be available Jan 15.
Nice. They look awesome. More of a collector's piece imo but a cool one
@therealityarchive2380 it's not a collectors piece. It's currency.
I have some ordered!
Dont do it.
They want your silver then when they have enough. They will jack up the price of silver and your silver vault will be depleted.
Bingo
They have goldback bills that look like dollar bills but are made of gold or silver
And they are a total scam rip off that nobody buys or uses
@BlackSilverTreasure I see people buying them on eBay etc by the thousands and no one uses gold or silver to buy or trade anything either
@@BlackSilverTreasurewhat are u talking about? they are not popular but they are totally legit and have a fraction of on oz in each bill. Golbacks exist in a few states already. saying they are a scam is idiotic
@@cassavamellin the scam is not that they aren’t real gold. The scam is the premium on them which makes them the absolute worst way to buy gold
@@BlackSilverTreasure Wrongo. I've spent more than 100 of them in MA and NH in 2024. Made about 10% every time due to prices rising. Had to buy more recently. AND, they just released 'em in FL. Check out how many businesses are signed up and asking for goldbacks over dollars on their website. You get an F on your homework.
cmon!!! wtf is with this silver. goes up and gets crushed back down
There is too much of it and no world banks buy it. Gold is king
intentionally...just wait 🕵️♂️
@@BlackSilverTreasureWho told you that? It's abundant, but there's still not enough of it. It's all of the unbacked paper trading distorting the value of them both.
Silver production hasn't met Demand for 4 years. The price is suppressed..some believe,as I do, the US military among others is suppressing. Every Tomahawk Missile requires 500 oz. Once exploded the silver is unrecoverable
That's a good thing. Keep loading up before the train leaves.
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️
I'm 37 and have been looking for ways to be successful, please how??
Sure, the investment-advisor that guides me is..
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At least they’re talking about it
But who's really listening... only a chosen few,because everyone else is still trying to get Fiat... rappers posing with stack's of paper 😂😂😂😂😂😂us in the comments are ahead of the game investing in real currency.
Wait a minute. Coins used to be minted in silver. Today a dealer refers to the old coins as junk silver, but they are silver and they used to be in circulation.
Always has been and always will be gods money🙏💪
Why not?
The law was never changed in United States Code, Gold, Silver, Copper, and Nickel IS our monetary system that runs parallel to the Federal Reserve System
Gold and Silver are by definition MONEY, NOT CURRENCY. The modern iteration of the dollar, the paper dollar, is currency, NOT MONEY.
just use constitutional silver no testing necessary by the way - it's not new and it work before 1964and it's hard to counterfeit because its real.🧐
The banks won’t deal with real money just fiat currency.
The best thing about this story was looking at the news anchor's eyes. Beautiful!
It's been our currency for most of our nations history til the rich men north of Richmond took it away and replaced it with fiat paper
This could easily be done with a centralized precious metals banking system. Customer metal would be held in the bank, just as cash. This would allow the customers to save in metal and effectively eliminate the erosion of wealth that is occurring currently due to inflation. Then, when they are ready to make a purchase they could use a debit card to pay for goods. The merchant could take payment in metal or convert the metal to dollars.
Heres the deal: gold and silver are MONEY ( article 1, section 10, constitution) paper is currency. They have nothing in common.
Have a virtual gold and silver account with a financial institution and they have a debit card linked to that account, they subtract the amount of ounces you spend in dollars.
😂😂😂😂😂😂if I can't physically hold it then I don't want it. Have fun getting it if SHTF.
That JM 100 ounce bar is a tough variety. 🤓
we use silver here in byron bay, grass roots movement with some services and shops, doubt larger corporations will get involved.
SO IT IS IN THE BEGGINING SO SHALL IT BE IN THE END ,
Ron Paul: Is gold money?
Bernanke: It's an asset.
Ron Paul: But is it money?
Wilson screwed us with the Federal Reserve,
and Nixon screwed us by taking our money off the gold standard.
Both parties throwing us under the bus!!!
It’s not physical gold. It’s an exchange where you store the gold and silver. That exchange issues a card and the amount available is based on current spot. No additional tools or staff required for the merchant.
I will keep my silver in my hands.
You are going about it the wrong way. Eliminate any tax or penalty for using metal. The people will start to use it on their own.
The U.S. has been off of the gold standard since 1933, "thanks" to FDR. Silver-backed U.S. currency ceased to exist after 1964, the same year silver was primarily removed from circulating U.S. coins (the exception being 40% silver Kennedy half-dollars from 1965-69 -- ones were produced in 1970 but not circulated and only available in mint and proof sets).
We're not going to back to any sort of precious metals-type of consumer goods and services commerce.
Cash is always good and will be,,
I will vote ( Yes )
Not use gold or silver but just use a gold and silver base for a state digital currency and let people negotiate gold or silver as a currency in their own.
It's a shame Fox 13 didn't mention Goldbacks. As this is what the company's sole aim is. And it's already in 5 states. These notes already address a lot of the short comings of using gold coins or bars.
Without a stable price for gold, only a gold based digital currency makes sense. The value of the currency will change day, but much easier for transactions.
It would be a matter of being able to pay taxes and other government fees with precious metals before it can come back to being normal. Gold and silver are legal money according to the Constitution of the United States of America.
There is not a currency in history that has lasted more than a century.
And yet Gold and Silver have been used as money for exchange for thousands and thousands of years.
UK + 9 British territoriesBritish pound8th century
SerbiaSerbian dinar1214
RussiaRussian ruble13th century
U.S.Dollar1785
HaitiHaitian gourde1813
Falkland IslandsFalkland Islands pound1833
Dominican RepublicDominican peso1844
SwitzerlandSwiss franc1850
CanadaCanadian dollar1871
JapanYen 1871
Yea I'll go get a grocery clerk job then. I'll trade fiat for gold and silver as soon as it exchanges hands!😂
Go look up, Florida gold backs and silver backs. Now being made, from 1/1000 all the way up
So this is advertising disguised as news......
This must be why Goldback chose Florida to be the 6th Goldback state. So glad we are returning to sound money.
You would just let businesses accept it if they want. I’d rather have anything other than a dollar or fiat currency.
A gold-backed currency doesn't mean actually exchanging physical metals when buying or selling.
If it doesn't have the option of being physical then is it really "gold-backed"?
Gold and silver ARE legal currency. I literally use silver bullion every day to buy whatever I want to buy. Today I used a 1/10th oz silver maple to buy my breakfast.
The guy who says there would have to be a specialist at every checkout, he obviously has never seen pennies, nickles, dimes, or quarters. Here in Canada we have one and two dollar denomination coins.
All the state of florida would have to do is mint a gold coin. It's not a radical idea by any means.
A government that uses money not of their own is no longer a government they are a corporation. Gold and silver are constitutional money and considered money whereas Fiat currency is not considered money it’s considered an IOU or a debt a note United States is a dual banking system.
The constitution says gold and silver are legal tender. FDR outlawed the constitution during his term. My father and grandfather used this. It needs to come back.
The thing I find disturbing is that the Mint states a “Dollar” vale on this items that have no bearing on reality as to their “Actual Value” …
That is, I stand with a Silver Eagle (1 ounce, pure 99.9%) which has a Market Trade Price of $31.00+ and it proclaims that it is $5. I don’t understand why they put denominations on these things. I do understand that Paper Currency is of no True Value but …
Goldbacks
The state of Florida has voted to make Gold and Silver a currency via an exchange. This exchange should hold most of the states pension investment.
Gold and Silver are United States Constitutional Money. The federal reserve notes in your wallet is Currency. The Currency was backed buy Gold and silver once upon a time in American history.
You could buy luxury goods with just a few gold coins depending on half ounce quarter ounce full ounce instead paying with a bunch of hundred dollar bills. It be easier to pay for things with Gold or silver real money.
It would be absurdly impractical. An average gas station might take in north of $15,000 in a given day. That would work out to almost 500 ounces of silver each and every day. They would probably need another 500 ounces on hand of smaller silver bullion or coins to make change. A huge, huge incentive for armed robberies.
So that's around 11,000 pounds of metal that has to be stored and transported under armed guard each year, hand counted, re-shipped to each of the businesses creditors and vendors, again under armed guard, checked for counterfeit etc.
Multiply all this by thousands of times for large and high revenue business.
There are reasons why people came up with forms of paper money even long before fiat currency was a thing. Going back to the Templars in medieval Europe and before, people came up with paper instruments to transfer money around because moving precious metals in bulk was a logistical nightmare.
There is SO MUCH counterfeit gold and silver out there. Can YOU tell the difference???
GoldBacks
Use crypto
All these people dont know nothing. Gold and silver has always been money. Metals dont depend on fiat. If they read their history 90% gold coinage was in circulation until 1933 and 90% silver coins were in circulation until 1964 and 40% silver coins until 1969. Silver and gold certificates were issued for about 144 years until 1933.
It's been real money for thousands of years until the 1930s
Believe it or not, gold and silver are the only forms of money. All else is fiat.
There are some misleading statements in this story . First Gold and Silver are not Investments , they are Hedges . For those of you that don't know the difference , an Investment means you can possibly make a profit in the future . A Hedge is something that protects you from inflation . Also Gold and Silver ARE MONEY as defined by The Constitution . The paper and clad stuff in the bank and in your pocket are a representation of currency (not money). It would be very hard to bring Gold and Silver back as Currency because there is a limited amount of each . The value would have to be astronomical ( like $25,000 for a gram of Gold and $5,000 for a gram of Silver ) just for example . And they did not talk about Numismatic Values in this video and that is a whole different prospective on Precious Metals , it is kind of a gamble , you can make a profit or loose big .
Just saw a video on a product called goldback. Its like paper money notes but its very thin gold that has been applied to other plastic type materials or something and it apparently is very difficult to counterfeit like regular dollar notes are.
Looks very interesting, people are using it already
Gold and silver is already a legal form of currency
They at first have to go back to printing on the bill redeemable for gold or silver and then you go to the bank and get the physical gold and silver with the certificates
i stack 1964 kenedy halves
People have always been able to use gold and silver as currency , even today if you hand the cashier a gold or silver coin , he/she have to take it because it is ( legal tender ) 😮
There are precious metal scanners already. If they merged that tech, into what is already in place at many store, where you insert cash into slots then they could be scanned and accepted. I have a good portion of my portfolio has already been invested into Goldbacks, even though I reside in NY state.
That's what it says in the us constitution. Article 1, section 10.!!! Maybe people should read it. When you USE it, prices go down. When you don't, prices go up. What a concept.
Obviously big push for gold to make someone rich in government.
Almost nobody uses ANY currency anymore for anything. Why would we start? Answer THAT question!
You can buy just about anything with gold/silver.
🚩🚩If you spend gold, you don’t understand money🚩🚩
All 52 US states should follow suit
Of course the government wants to make gold and silver legal tender. Then you'll have to pay tax on it. If i sold you my house i paid $20k for for $500k I'll have to pay a Capital gains tax however if i traded you my house for $500k worth of gold and/or silver. We just bartered and traded assets because technically i didnt make any money off it.
Silly. Crypto will dominate the future.
🎉🎉
yep sad but true gold and silver will never be use as a currency to buy stuff to shop in person. I only see crypto doing that and taking over paper money soon as more and more people use crypto.
Put a gold thread in a currency.
A thin fiber of gold. Platinum.silver.palladium along side a hologram.
😊😊
Xrp
just the comment i was looking for
There's already a commodity money that works better than gold/silver and is actually truly scarce.
Bitcoin fixes this. It's like digital gold, and can be easily verified through technology. And it is divisible.
If they do allow gold to be used as currency, all they're doing is collecting gold from the population so they can sell it off when the government sells off much of their gold reserves to obtain Bitcoin.
Let’s go Florida! Let’s bring the shine back to the sunshine state
You only need the banks or other servicer to convert the gold and silver into dollars into people's bank accounts.
So someone does not know the history of the world.... we literally had this 50 years ago and can still buy silver and gold legal tender in the form of silver are gold American Eagles... the Canadian Mapleleaf, etc...
but the face value is too low, $50 for a 1 oz gold coin, i mean i would not go to a shop and spend that coin for $50 worth of items
You can already use silver as currency. Who are these people?
Gold backed currency is okay. Gold as the currency breeds corruption.
I don't think they're necessarily trying to replace hust add an option
Just in time for gold seeing it's at its highest in my memory
the one and only beautiful Gold .
It's completely impractical, especially paying in bullion. Gold-backed crypto is completely viable though because the (private) issuer of the currency would have the means to test the gold and get around the many scams out there.
The most important part was what she said at the very end