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#26 2017-03-11 18:43:19

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 2,214
Trades :   39 

Re: Texas proposal the right to use PMs as money in state constition

Why do you think gold backed will be good for gold prices?

Do you think being gold backed will mean gold is valued at $5,000, gold backed mean spot for gold for that currency or in the case of Utah will be set ie $1200.


Plus gold backed usually coincides with lowing of the prices of goods, not valuing gold up?


WTB 4 to 6 grams of pure gold. Don't care if it is coin, bar or granules. Near spot, suits anyone who has been tempted to open a certicard or just have some granules to make a ring

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#27 2017-03-11 21:30:46

Skyrocket
Silver Stacker
From: Melbourne
Registered: 2014-07-20
Posts: 4,867
Trades :   36 

Re: Texas proposal the right to use PMs as money in state constition

^ I didn't say anything about gold backed.

btw, I guess all this printing money backed by nothing is what mainly contributed to keeping PM prices down. If the USD was still always gold backed could the Fed have printed all that helicopter money out of thin air?

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#28 2017-03-11 21:41:04

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 2,214
Trades :   39 

Re: Texas proposal the right to use PMs as money in state constition

In that case, I agree this won't do much, it's just a big PM dealership owned by state government.

Much like Perth Mint. We can buy WA government gold certificates today.


WTB 4 to 6 grams of pure gold. Don't care if it is coin, bar or granules. Near spot, suits anyone who has been tempted to open a certicard or just have some granules to make a ring

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#29 2017-03-11 22:27:58

mmissinglink
Member
From: Everywhere...simultaneously
Registered: 2012-09-30
Posts: 6,092
Trades :   19 

Re: Texas proposal the right to use PMs as money in state constition

skyrocket,

You are woefully wrong. Your argument suffers from a big fat smelly logical fallacy.

That the bill passed is not a causal relationship with Paul's incoherence. ( Post hoc ergo propter hoc )



Paul certainly was incoherent in much of his mumbling testimony.


As I've already stated, I'd be happy if the legislation passed both houses of Congress in spite of Paul's lousy performance. It passed Committee, it still has a long way to go.



.

Last edited by mmissinglink (2017-03-11 22:28:56)


In some ways, we are not that different

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#30 2017-03-11 22:45:23

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 2,214
Trades :   39 

Re: Texas proposal the right to use PMs as money in state constition

I hope it's soon I in Texas in December, if I have time I'll make an effort to visit. It will be a novel place to visit to get a bucket full of junk coins.

Pity it's only US legal tender coins, it could have been a PM Mecca, hopefully when and if I get there the powers that be in Utah have set the price below spot. But to make this work I suspect they will have to set it above to get enough coins into the state for circulation.


WTB 4 to 6 grams of pure gold. Don't care if it is coin, bar or granules. Near spot, suits anyone who has been tempted to open a certicard or just have some granules to make a ring

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#31 2017-03-12 20:11:46

Skyrocket
Silver Stacker
From: Melbourne
Registered: 2014-07-20
Posts: 4,867
Trades :   36 

Re: Texas proposal the right to use PMs as money in state constition

It passed the first hurdle and am hopeful if will pass the others. If/when it does it will be a precedent for others to follow.

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#32 2017-03-12 21:41:57

Court Jester
Silver Stacker
From: Gold Coast QLD
Registered: 2012-07-30
Posts: 2,890
Trades :   41 

Re: Texas proposal the right to use PMs as money in state constition

Skyrocket wrote:

It passed the first hurdle and am hopeful if will pass the others. If/when it does it will be a precedent for others to follow.

precedent ok so again how many oz of worthless gold will u give me for my precious precious dog turds?


<--------------------------------------------------------- SIDEWAYS --------------------------------------------------------->
quote=sammysilver 25/10/13  ----- PMs will drive silver to over $30 by Christmas with the GSR dropping to sub 50. I've overextended myself at sub $24 but will keep buying up to $30 then sell half my stack at Easter at $36 and buy up on the next dip if there is one.
Running Telly of incorrect to correct Predictions by SammySilver -- 7:1 as of 10/08/16

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#33 2017-03-13 01:33:23

Skyrocket
Silver Stacker
From: Melbourne
Registered: 2014-07-20
Posts: 4,867
Trades :   36 

Re: Texas proposal the right to use PMs as money in state constition

Court Jester wrote:
Skyrocket wrote:

It passed the first hurdle and am hopeful if will pass the others. If/when it does it will be a precedent for others to follow.

precedent ok so again how many oz of worthless gold will u give me for my precious precious dog turds?


I'll send you one ounce of my precious silver if you show me video proof of you eating one of your precious dog turds  big_smile

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#34 2017-03-13 06:42:36

Court Jester
Silver Stacker
From: Gold Coast QLD
Registered: 2012-07-30
Posts: 2,890
Trades :   41 

Re: Texas proposal the right to use PMs as money in state constition

Skyrocket wrote:
Court Jester wrote:
Skyrocket wrote:

It passed the first hurdle and am hopeful if will pass the others. If/when it does it will be a precedent for others to follow.

precedent ok so again how many oz of worthless gold will u give me for my precious precious dog turds?


I'll send you one ounce of my precious silver if you show me video proof of you eating one of your precious dog turds  big_smile

why would I eat one of my precious dog turds they worth their weight in gold, that would be like using strips from the mona lisa to roll joints with.


<--------------------------------------------------------- SIDEWAYS --------------------------------------------------------->
quote=sammysilver 25/10/13  ----- PMs will drive silver to over $30 by Christmas with the GSR dropping to sub 50. I've overextended myself at sub $24 but will keep buying up to $30 then sell half my stack at Easter at $36 and buy up on the next dip if there is one.
Running Telly of incorrect to correct Predictions by SammySilver -- 7:1 as of 10/08/16

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#35 2017-03-13 14:16:22

mmissinglink
Member
From: Everywhere...simultaneously
Registered: 2012-09-30
Posts: 6,092
Trades :   19 

Re: Texas proposal the right to use PMs as money in state constition

It (the value of any inanimate thing) really basically boils down to supply and demand. If lots of people will demand CJ's dog's turd and are willing to pay handsomely for it and CJ restricts the supply, then it's value could conceivably be greater than gold.

That dog turd, gold, and paper money have exactly the same intrinsic value....zero. Any and all value either has is value that individuals or groups of people collectively attach to it.




,


In some ways, we are not that different

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#36 2017-03-14 00:17:05

Skyrocket
Silver Stacker
From: Melbourne
Registered: 2014-07-20
Posts: 4,867
Trades :   36 

Re: Texas proposal the right to use PMs as money in state constition

Court Jester wrote:
Skyrocket wrote:
Court Jester wrote:

precedent ok so again how many oz of worthless gold will u give me for my precious precious dog turds?


I'll send you one ounce of my precious silver if you show me video proof of you eating one of your precious dog turds  big_smile

why would I eat one of my precious dog turds they worth their weight in gold, that would be like using strips from the mona lisa to roll joints with.

Fine. Keep your precious turds and I'll keep my precious silver.

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#37 2017-03-14 22:38:58

bordsilver
Silver Stacker
From: The rocks
Registered: 2012-05-23
Posts: 9,596
Trades :   36 

Re: Texas proposal the right to use PMs as money in state constition

mmissinglink wrote:

It (the value of any inanimate thing) really basically boils down to supply and demand. If lots of people will demand CJ's dog's turd and are willing to pay handsomely for it and CJ restricts the supply, then it's value could conceivably be greater than gold.

That dog turd, gold, and paper money have exactly the same intrinsic value....zero. Any and all value either has is value that individuals or groups of people collectively attach to it.




,

Until everyone cottons on to CJ's practice of forcefeeding the dog to triple his daily supply before moving on to secreting extra dogs away in the basement and pretending that the original dog is now producing 20kg a day. Inflation skyrockets and everyone's savings are worth shit.


The only good tax is a repealed tax.

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#38 2017-03-15 03:52:58

Court Jester
Silver Stacker
From: Gold Coast QLD
Registered: 2012-07-30
Posts: 2,890
Trades :   41 

Re: Texas proposal the right to use PMs as money in state constition

bordsilver wrote:
mmissinglink wrote:

It (the value of any inanimate thing) really basically boils down to supply and demand. If lots of people will demand CJ's dog's turd and are willing to pay handsomely for it and CJ restricts the supply, then it's value could conceivably be greater than gold.

That dog turd, gold, and paper money have exactly the same intrinsic value....zero. Any and all value either has is value that individuals or groups of people collectively attach to it.




,

Until everyone cottons on to CJ's practice of forcefeeding the dog to triple his daily supply before moving on to secreting extra dogs away in the basement and pretending that the original dog is now producing 20kg a day. Inflation skyrockets and everyone's savings are worth shit.

I have tripped the output by having 3 x dogs not force feeding 1 dog ;p


<--------------------------------------------------------- SIDEWAYS --------------------------------------------------------->
quote=sammysilver 25/10/13  ----- PMs will drive silver to over $30 by Christmas with the GSR dropping to sub 50. I've overextended myself at sub $24 but will keep buying up to $30 then sell half my stack at Easter at $36 and buy up on the next dip if there is one.
Running Telly of incorrect to correct Predictions by SammySilver -- 7:1 as of 10/08/16

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#39 2017-03-15 04:34:42

BuggedOut
Member
From: New South Wales
Registered: 2015-07-21
Posts: 1,777
Trades :   37 

Re: Texas proposal the right to use PMs as money in state constition

This thread started out interesting....and now is a bit on the nose.

Can we get back to the topic?

Idaho seems to be the next to make a move in this space :-

http://www.zerohedge.com/news/2017-03-1 … ous-metals

By an overwhelming 56-13 margin, the Idaho House of Representatives today voted to end all Idaho taxation on precious metals, e.g. gold and silver coins and bars.

I think it's very encouraging that Americans are waking up the issues, and while I don't see this creating a huge demand for PMs in the short term, I do agree with Skyrocket that this sort of policy could change across the US states quite quickly.

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#40 2017-03-15 04:40:47

Skyrocket
Silver Stacker
From: Melbourne
Registered: 2014-07-20
Posts: 4,867
Trades :   36 

Re: Texas proposal the right to use PMs as money in state constition

BuggedOut wrote:

This thread started out interesting....and now is a bit on the nose.

Can we get back to the topic?

Idaho seems to be the next to make a move in this space :-

http://www.zerohedge.com/news/2017-03-1 … ous-metals

By an overwhelming 56-13 margin, the Idaho House of Representatives today voted to end all Idaho taxation on precious metals, e.g. gold and silver coins and bars.

I think it's very encouraging that Americans are waking up the issues, and while I don't see this creating a huge demand for PMs in the short term, I do agree with Skyrocket that this sort of policy could change across the US states quite quickly.


....and then onto other nations hopefully

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#41 2017-03-15 08:06:25

mmissinglink
Member
From: Everywhere...simultaneously
Registered: 2012-09-30
Posts: 6,092
Trades :   19 

Re: Texas proposal the right to use PMs as money in state constition

....and then onto other planets....the Inter-Galactic Metals Alliance has just been born!    wink




.


In some ways, we are not that different

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#42 2017-03-22 18:16:10

Skyrocket
Silver Stacker
From: Melbourne
Registered: 2014-07-20
Posts: 4,867
Trades :   36 

Re: Texas proposal the right to use PMs as money in state constition

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#43 2017-03-22 21:37:25

Skyrocket
Silver Stacker
From: Melbourne
Registered: 2014-07-20
Posts: 4,867
Trades :   36 

Re: Texas proposal the right to use PMs as money in state constition

^ All the past arguments on this forum about whether or not Gold and Silver are money should evaporate now. Gold and Silver are now money!  smile

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