MONEY: 1600% loss

Counterfeiters In Our Midst
by Bill Sardi

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Stop debasing our money. This is a trick that has been played upon the masses for centuries now. Mining interests in Arizona, however, want to push on the American populace a flimsy copper-zinc-manganese-nickel Susan B Anthony dollar-coin, actually only worth a few pennies, and Congress is listening if for no other reason than political donations. You can read the USA Today story here.

The false argument is that coins last virtually forever while paper money lasts on average 42 months and the cost savings are estimated at $5.6 billion over 30 years. This would trim $186 million a year off the annual Federal debt of $1.5 trillion (or 1/100th of 1% of the national debt). Here is real cost cutting at work my friend! The Joint Committee on Deficit Reduction will hear arguments for greater use of this pseudo-coin in an effort to reduce the national debt.

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Well it is kind of difficult to confront someone with the obvious. Just how much has the US dollar been debased? Let’s try 1600%. That is the current value of a US minted 1-ounce silver eagle gold coin ($1600).

You: You mean to tell me that the paper dollar in my wallet should be able to buy $1600 worth of goods or services?

Me: Yes, that is right. What did you think this means? It means you’ve been fleeced by that amount.

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So I 1971 US dollar, the kind before Nixon abandoned the international gold standard, would be worth $1600 in purchasing power today.

That’s stunning!

What would it be if we went back to when FDR took us off the national gold standard, remember he paid the citizens 23$/oz and then declared it was worth 32$/oz.

I think it’s about about the same order of magnitude.


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RANT: Double standard?

Tea Party to Mayor: Make ‘Occupy Richmond’ Pay Up
October 27, 2011 2:37 PM

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RICHMOND, Va. (CBS Washington) – The Richmond Tea Party is accusing Mayor Dwight Jones of taking a soft stance against the “Occupy Richmond” protesters and is demanding that the group pay up.

After nearly three weeks of protests and overnight stays in Kanawha Plaza, the Richmond Tea Party is about to send Jones a bill for about $8,000 on the basis that “Occupy Richmond” has been using the area illegally and for free.

Richmond Tea Party spokeswoman Colleen Owens told CBS Washington that the protesters have been given special treatment and free reign of the park and have not had to comply with the strict liability and security provisions that the city required of a Tea Party Tax Day in 2009.

As the person in charge of the 2009 event, Owens said Richmond officials dictated the number of police and emergency personnel they were required to have on site and required a $1 million liability policy to protect the city. Owens said that when a Tea Party member decided to call the mayor’s office to see if the protesters had required any of the necessary permits for the park, the city said that “Occupy Richmond” didn’t have any requirements for them to protest and stay overnight in Kanawha Plaza.

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Calls and emails made by CBS Washington to “Occupy Richmond” officials and Jones’ office seeking comment were not immediately returned.

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No double standard. Not much. Wonder if this is a pattern. If we had a real muckraking media, they’d dig this out.

How far the Republic has fallen from our ideals.

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