Replies to post #10457 on Americas Silver Corp fka USAPF

[downsideup]

"Our dollars will be worthless."

Yeah... ignoring, of course, that they aren't "our" dollars anyway, rather than the scrip of the Fed, and thus the banks... not a product of "us" rather than "them" ? Some will say the problems we see must mean that the "free market experiment" in privatization of banking failed, so we should nationalize the banks ? I'd quibble with that, first in thinking that allowing banks to become your government, isn't a failure of any private market functions, but a failure in market governance, both resulting from and leading to a failure of political control. Putting the banks "solidly under government control"... when the banks control the government... isn't exactly a solution ? That is the "solution" Occupy Wallstreet will arrive at... given the chance to try to find the words... so, you should expect to see that misdirection of "more of the same" being offered as radical change.

Their dollars are worthless... and we're probably going to have a need to recognize that fact...

The lack of a public debate on options means only that someone expects to answer that question for you, in the extremity of an emergency, in a way that forecloses debate...

I don't believe it is useful to have that remain a debate that is conducted in the definitely not smoke filled back rooms of banks, or in the secret committee whisperings among Congress critters.

So, the unaddressed question then becomes... what should replace the banks' dollars... when the banks have failed ?

[downsideup]

"Confiscation does not have to occur"... but, when does theft EVER "have to occur" ?

That you can envision an alternative that works for you ? You need to show me how the investors in the BOA's derivatives see that as a reason to surrender their claim to own your checking account.

[downsideup]

"What about owning a silver mine?"

But, who owns it ? You ? Or the DTCC ?

That's what the holders of physical have been saying, of course... that you can't trust confiscation won't occur, since it has happened before, and, since there clearly isn't much willingness among our politicians to stand up to thieves ?

I agree with them... that you can't "trust" that thieves won't steal, or try to steal.

I don't disagree with those thinking there is a high probability that we should expect it. History shouldn't be ignored.

I don't agree with them that expecting the effort will be made, means you should expect it, allow it, and enable it to succeed.

I think IF they do try to extend that "first step" that you DO see being taken right now, in the BOA taking of their depositors checking accounts... that they are unlikely to find that the result will be as useful as they'd hoped.

People haven't figured out, yet, that they are being stolen from, with the theft enabled by the government... only to make bankers and their friends whole on their investment losses...

But, they WILL figure it out.

[downsideup]

"To collateralize the world's present amount of U.S. currency ONLY,would take more gold than exists right now ,(at present dollar value/gold ratio), so a huge dollar debasement will be assured."

I agree with that... not the silly bit about "more gold than exists"...

Take the amount of gold there is, divided between the number of dollars that there are... but, how much gold is there, and how many dollars are there ? The lack of a standard is what allows creating "air dollars" the same way they create "air shares".

Will gold be $10,000 an ounce... if you re-monetize and connect each dollar that exists to a fixed value in gold ?

http://www.fms.treas.gov/gold/current.html

261.5 million ounces.

If BOA alone has $75 trillion in derivatives liability... that is, $286,806 dollars per ounce... just to have the gold in the US cover the derivative liability of one bank.

You still think they'll allow re-monetization, without first taking the gold... so that the effort in re-monetization doesn't end up transferring all that "value" from those who own it now, to those who own gold, now ?