Silver Quarter
.2 oz 90% silver and 10% copper
Current Quarter
.2 oz 75% copper and 25% nickel
Prices as of 4/29/2011:
copper $4.24 per pound = 26.5 cents/oz
Nickel $12.16 per pound = 76 cents/oz
Silver $48 per troy ounce (One troy ounce is equivalent to 1.09714 avoirdupois ounces).
(14.583 troy ounces in an Avoirdupois pound)
Silver is therefore 48 x 14.583 = $700 per AV pound
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16 oz in 1 AV lb. Therefore = $43.75 per ounce in AV Pound = 700 / 16 ounces
silver quarter = .18 oz silver and .02 oz copper
Which amounts to (in paper dollars):
Silver Quarter = $7.88 silver and .5 cents copper
new quarter = .15 oz copper and .05 oz nickel
new quarter = 4 cents of copper and 3 cents of nickel
$7.88 in the Silver Quarter compared to 7 cents of value in the copper/nickel quarter. 112.5x difference
So the silver quarter is worth 112 times more than the copper quarter as of last Friday's prices. Quite some clipping the government did there in 1965!
Silver has gone from $19,600 per ton in 1913 to $472,000 in 2009, plus much higher now by 3 to 4 times. Copper went from $342 per ton in 1913 to $5320 in 2009 but now is $8480. MASSIVE inflation when you look at it in those terms.
But look at the production! In 1900 world production of copper was 493,000 tons, yet by 2009 we were up to 15,900,000 tons, a 32x increase! So even though the annual output increased by a factor of 32, the price still went up 15 times because of inflation in spite of the huge supply.
The reason is simple. When we had silver in the money you would commonly get 5%-6% interest on a bank savings account. The bank would loan out the money for 7% or 10% or whatever they could get to housing and more importantly to business. The economy grew and companies sprang up that employed hundreds of thousands of people. Anybody who wanted a good job like at Motorola could get one, with good pay and beautiful benefits, all for just sitting on your ass and pushing a button. You might have to work nights for awhile. Wow. With a 2-year degree you could be a tech and with a bachelors you could be an engineer. Of course there were abuses, but if you didn't have a good job or a small business it was because you were too lazy. Hell, I could have mowed as many lawns as I wanted as a kid even and I am the world's worst businessman.
Savers were also rewarded because things naturally go down in price over time because of technology advancement as long as the money stays at one value. So the longer you saved money you could get things cheaper later, for the most part. Plus you were getting interest at the bank.
But in a paper money environment, especially since we dropped the gold backing completely in 1971, savers get punished. We are now down to .6% for a 13-month CD, and I am afraid to ask what you get for just a plain savings account because it would obviously have to be less than .6%.
So now who benefits in this new debt based environment? Now that you have to be an idiot to save paper dollars, the bank can no longer rely on savings anymore for their supply of money to lend. And a bank that doesn't lend money goes out of business. That is how banks make a profit, they loan money.
So the bank must borrow their money that they in turn loan out at a higher rate of interest. So now the soundness of a bank is no longer based on its amount held in savings. Your guess is as good as mine what they base it on now. My guess is it would be based on the soundness of whoever they borrowed the money from, no?
Anyway, it is obvious by now who benefits under the debt based, non-gold and silver environment. It is the uber-rich, the banksters, giant corporations, wall street, and the government. The jobs are gone, so the little guy is fucked. Good luck getting hired at Wal-Mart, the largest employer in the State of Arizona, where you will get paid shit with even shittier benefits. Unless you work in banking, the government, or are collecting food stamps and unemployment, you are probably in a dead-end job with no benefits. Welcome to the new world.
So this is in graphic terms why I believe I am the true champion of the poor. The system I advocate is already a proven system that provided the best standard of living in the history of the world, while the debt based system is entering its old age with the biggest debt in the history of the world and no hope of ever balancing the budget let alone paying off the debt since the economy is still in the early part of the Greater Depression, which will crush the poor and the old worse than anybody.
Not only are good jobs gone but even shitty jobs aren't so easy to come by. Every month sets a new record in the unrelenting rise of food stamp users. Yet what do the "experts" keep saying? "We need to spend more! Spend more!" They are either still duped by Keynesianism or they are liars. They are nothing more than carnival barkers. Economies are strong because of savings, not spending.
I am the true champion of the poor because I want an environment where the poor can thrive. This can only be accomplished through savings, not debt, food stamps, and welfare. I was lucky enough to be raised by someone who was born in 1912. My dad took me down to the bank when I was 6 years old and I opened a "Passport" savings account and got a little blue savings book with $5 stamped in it. I was officially a saver. Our parents back then were savers because they got rewarded in their early days from savings, and now savers get punished, and I mean severely.
As long as paper money is endorsed the poor will continue to be punished. The best they can hope for will be more food stamps, free health care, free housing, and more handouts, because there are no jobs now even if they want them. The poor are fucked under this system. Soon the old will be too when their pensions become worthless.
The paper system only exists for debt and because of debt. The banksters are rewarded big time as well as the government which grows huge. It works until people lose CONfidence in the money, which is by definition a CON game, as they have lost CONfidence in the 599 currencies that have already failed in the history of the world. Gold and silver require no confidence since they have served as money for at least four millenia. Whatever value you want to ascribe to them, they do not come into existence through debt. They are mined and then coined. Their price measured in ever-increasing dollars has gone up enormously especially since the end of World War II. This only happened for one reason, because the amount of paper dollars grew enormously in percentage terms compared to the amount of gold or silver mined. It is that simple. This is the inflation you've come to know and love, and to think of as the only way of life. You have never experienced the other way so think the religion (paper) you were raised in must be right, because really, how dumb could your parents really be? I was raised in another religion and I had silver in my pocket, so to you I probably look like a heretic. But at any rate, if you save paper dollars you must really be an idiot. This is a debt game, baby, get with the program. Borrow more and spend more! Spend more! We have to spend more or we'll go bankrupt!--Joe Biden haha What a buffoon.
Gold and silver equals savings, paper money equals debt. The charts don't lie. The final bubble is not gold, it is in US Treasury Bonds, the biggest cesspool of debt in the history of the world. The only thing it requires to stay alive is BELIEF in the system. If only you will have FAITH and BELIEVE! Otherwise, it's FIRE AND BRIMSTONE! HELL AND DAMNATION FOR ETERNITY IF WE EVER GO OFF THE PAPER!
Admission is free, you pay to get out.
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