patrick.net

I found an old 5,000 peso note before I left, and thought maybe I'd change it in Mexico. Turns out it's worth about 25 cents now. I gave it to a cambio clerk and she at least accepted it as a gift.

Patrick says

So their central bank essentially stole the money of everyone who had pesos by printing more of them.

Essentially what the Federal Reserve and our reckless, corrupt, out of control Government is doing to the dollar.

Patrick says

Quote is from a Chinese propaganda site, but they're not wrong about this.

There's some truth, as the reserve currency holder does enjoy some benefit, but remember, the Federal Reserve is not a US institution. It's ownership is mostly foreign. These institutions have all been created with one sole purpose, world enslavement. The people running them have no nationalistic loyalties. And to achieve their goal, America MUST become a third world country.

clambo says

I recall the Mexican peso was about 24 to $1 USD in 1980.
Overnight it dropped to about 50 pesos to $1 USD.
Today it's 18.5 "new pesos"=18,500 pesos to $1 USD.
What is strange is the standard of living is generally higher today, but Baja Sur Mexico may be uniquely more prosperous than the mainland (except Mexico City and Guadalajara).

I remember it being 10/1 just about forever, and things in Tijuana looking much better in the 80's then they do today.

HeadSet says

Just the savers. Debtors made out.

clambo says

Savers lost a ton of dough in Mexico at the first big devaluation. Overnight you would lose almost 50% of your net worth.

When you devalue anything fiat, the winners and losers aren't along savers vs debtors, it's ultra-rich vs everyone else. Because if your wealth represents 10% of an economy, you can always take the hit. But everyone else is eventually dragged to the bottom. And at that point the ultra-rich, who run the system, are able to snap up real assets with their worthless paper at pennies on the dollar.

And this my friends, is always and solely the purpose of central banks.

https://slaynews.com/news/france-calls-europe-ditch-us-dollar-seek-strategic-autonomy/

France Calls on Europe to Ditch U.S Dollar, Seek ‘Strategic Autonomy’

There should be no reason why people can't use silver by weight at all.

I'd also like to see the States have the power to mint metal coins, so long as it is "Legal Tender valid for the payment of all debts, private or public." at least within the state itself.

Florida Florins!
Texas Thalers!

I'd prefer Florida and Texas one ounce coins.

As soon as you use a name like "dollar", then the games start because that breaks the explicit valuation by weight of silver.

The only honest currency name I know of was the British pound, which was literally a pound of silver until it wasn't.

Patrick says

As soon as you use a name like "dollar", then the games start because that breaks the explicit valuation by weight of silver.

The definition comes from Spain, and equals 20 reals of silver. Just because a corrupt system attempts to co-opt a word, does not change it's meaning. Anymore than tolerance equaling killing Christians...

SILVER SUPPLY DEFICIT. "Because of record high demand and lower mine production, the silver market had a 237.7 million-ounce deficit [in 2022] the second such deficit in as many years. 'Importantly, the combined 2021 and 2022 deficits more than offset the cumulative surpluses of the previous 11 years,' noted the World Silver Survey 2023, released by the Silver Institute. The Survey predicts another ‘hefty’ deficit in 2023.”
https://www.silverinstitute.org/total-global-silver-demand-posts-record-high-1-24-billion-ounces-2022/
https://www.silverinstitute.org/all-world-silver-surveys/

"That clumsy sentence says that silver supply deficit in 2021 and 2022 ate up the previous 11 years’ cumulative surpluses. Point is that current supply/demand statistics are very bullish for silver."

- Franklin Sanders

I carry this in my pocket. Silver is a natural antimicrobial and it's nice to have a little chunk of metal to fidget with.

Oz of silver on the spot chart is $26.10 ask. But you can't buy an ounce coin of it for less than $30. Silver Eagles are going for over $40. That's about right. You should be able to get a nice meal with drink and tip for less than a buck.

Rounds were selling for $25/oz in the past six months.

NuttBoxer says

Rounds were selling for $25/oz in the past six months.

What are they selling for now?


As low as $29.68 from SD Bullion

Looks like about $28. 40% is the best bang for your buck right now, still at $25.

https://en.wikipedia.org/wiki/Silver_standard

The silver standard[a] is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians c. 3000 BC until 1873. Following the discovery in the 16th century of large deposits of silver at the Cerro Rico in Potosí, Bolivia, an international silver standard came into existence in conjunction with the Spanish pieces of eight. These silver dollar coins played the role of an international trading currency for nearly four hundred years. ...

For millennia it was also silver, not gold, which was the real basis of the domestic economies: the foundation for most money-of-account systems, for payment of wages and salaries, and for most local retail trade. In 14th to 15th century England, for instance, most highly paid skilled artisans earned 6d a day (six pence, or 5.4g silver in the mid-15th century), and a whole sheep cost 12d. So even the smallest gold coin, the quarter-noble of 20d (with 1.7g fine gold), was of little use for domestic trade.[3]

Everyday economic activities were therefore conducted with silver as the standard of value and with silver serving as medium of exchange for local, domestic and even regional trade. Gold functioned as a medium for international trade and high-value transactions, but it generally fluctuated in price versus everyday silver money.[3] Gold as the sole standard of value would not occur after various developments occurring in England starting the 18th century.

Some states have chosen to use a loophole in the Federal Reserve Act that gives individual states the right to issue currencies of gold or silver coins or rounds. ... As of January 2012, Utah allowed the payment of debt to be settled in silver and gold, and the value of the American silver or gold rounds used was pegged to the price of the given precious metal. Payment in some cases can be requested to be made in silver or gold rounds. As of 2011, eleven other U.S. states were exploring their options to possibly make similar changes like Utah.

Also Tennessee, which is also working on establishing a bullion state bank(specie storage, not paper). A few other states as well, all recently.

Wow, also Texas:

https://sashalatypova.substack.com/p/texas-wants-to-create-a-gold-and

Texas Wants to Create a Gold and Silver-Backed Currency
Can the fiat system be reformed? Can this be done or at least initiated at a state level?

Texas has proposed a bill that would require the state comptroller to establish and provide for the issuance of gold and silver specie and also establish digital currencies that are 100% backed by gold and silver, and 100% redeemable in cash, gold, or silver. The bill would authorize the Texas Bullion Depository as the issuer of the specie and digital currencies and ensure that holders can use them as legal tender to pay debt and transfer them electronically to other people. The bill would also require the trustee to maintain enough gold and silver specie or bullion to provide for the redemption of all units of the digital currency issued but not redeemed. In practice, individuals would be able to purchase transactional currency representing the smallest fractions of physical gold or silver and redeem them for dollars, gold, or silver on demand. The bill has passed the House State Affairs Committee by a 7-6 vote and has received strong grassroots support in Texas.

Might be a sneaky way to create a digital currency which can be shut off at will by government.

Patrick says

Might be a sneaky way to create a digital currency which can be shut off at will by government.

One issue that may be stooping the government from issuing a digital currency - it would stop all drug transactions. How would the CIA get its fentanyl profits?

If the servers are housed in Texas, over state ISP, fed would have thumbs up their asses..

One of my favorite movie scenes (bank run in its a Wonderful Life) : https://www.youtube.com/watch?v=OTJCI1FNBfA

Silicon Valley Bank fucked up (buy a disproportionate amount of long duration Treasuries when rates were nearly zero) and could not effectively hide its fuck up before it had a bank run .... you think the bank's chief financial officer and risk managers would understand the basic concept of building a bond ladder ...

https://notthebee.com/article/during-the-last-quarter-costco-sold-over-100-million-worth-of-gold-bars

I don't know if this is a sign of anything other than people being worried about an inevitable economic crash and a collapse of the dollar, but that worry alone is enough to raise your eyebrows.

The wholesale mega-store Costco not only sold innumerable $1.50 hot dogs, but in the last quarter alone they have sold $100 million worth of gold bars online.

Gold is good for storing large value, but silver is more practical for every day transactions.

Patrick says

The USA devalued their coins MUCH quicker. In the early 1930's they took gold coins out of circulation. Up until 1964 coins were made with 90% silver. They tried a couple of years of 40% silver half dollars but since 1970 our coins have been made of copper, nickel, and zinc; parking tokens.

REAL SILVER COINS

https://www.zerohedge.com/commodities/first-costco-now-walmart-major-retailers-now-offer-gold-bars

First Costco, Now Walmart? Major Retailers Now Offer Gold Bars

https://slaynews.com/news/europe-advances-plans-cashless-societies/

Unelected bureaucrats in the European Union are advancing plans to replace physical money with a “digital Euro” to usher in “cashless societies.”

As Slay News has reported, globalists have been pushing for the introduction of central bank digital currencies (CBDCs) for some time.

The push is being championed by the World Economic Forum (WEF) with backing from the United Nations (UN), the World Bank, the International Monetary Fund (IMF), and globalist world leaders, including Democrat President Joe Biden.

However, as members of the WEF celebrate the push toward “cashless societies,” major concerns are being raised for the privacy and civil liberties of the general public.

Patrick says

https://www.zerohedge.com/commodities/first-costco-now-walmart-major-retailers-now-offer-gold-bars

First Costco, Now Walmart? Major Retailers Now Offer Gold Bars

Cool if Dollar General starts offing gold bars as well.

HeadSet says

Patrick says

https://www.zerohedge.com/commodities/first-costco-now-walmart-major-retailers-now-offer-gold-bars

First Costco, Now Walmart? Major Retailers Now Offer Gold Bars

Cool if Dollar General starts offing gold bars as well.

Etsy offers screaming deals: https://www.etsy.com/listing/1646438887/

RWSGFY says

Etsy offers screaming deals: https://www.etsy.com/listing/1646438887/

Lol, "Plated"

What are those "gold bars" for? Maybe to try to trick someone who was born yesterday.

Etsy is gross. Think Wayfair, but instead of children, lots of satanic shit, and even kill trophy's.

Etsy is a bunch of lazy girl artists/single mom hoes repackaging cheap Chinese shit as their homemade crap. I wouldn't by anything, especially injestable or skin related, including shit like "Organic Goat Soap" from etsy.

Silver based currency, with payment of wages and small contracts mandated in metallic coins (no paper, either public/government OR private bank banknotes)

Has to be or the rich hoard the coins and metal while giving out paper.

https://boriquagato.substack.com/p/the-road-back-from-serfdom

clambo says

Savers lost a ton of dough

Savers always lose money if they store their wealth in government-issued currency. Government-issued currency is not intended to be a wealth storage vehicle. It's intended use is to facilitate the exchange of goods and services. Metal is a crappy medium for the exchange of goods and services. Currency inflation is purposeful and discourages the use of currency as a storage vehicle. Inflation is a feature, not a bug. If you want silver and gold, just buy silver and gold, but blaming the government for a poor investment strategy is just silly.

Why on earth would anyone want to store their wealth in a government issued currency?

Currency savers lose money. Investors make money. Try investing rather than saving currency.

People who store their wealth in currency are, in reality, seeking nanny-state government protection from exposure to free markets. If you expect the government to protect and grow your wealth, prepare to be disappointed 😛.