The Crime of 1873 & the Debasement of Silver
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- čas přidán 7. 07. 2024
- The Crime of 1873 & the Debasement of Silver - In this episode, 'The Guy in the Hat' discusses the debasement of silver, specifically the rise of monometallism and the catastrophic impact on the common man in 1873. This is the moment at which the 'money of the people' was largely made illegal, with debt and taxes payable in gold only.
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There was no income tax in the 1800s and the greenback was independent of the private central bank of that time, so a threat.
Thank you, Guy in the Hat. :) Very great information and video.
Soon the FED will call in all notes to force use of CBDC.
When banks no longer accept cash deposits we will be a cashless society and we will have forgotten we were ever a free people.
But most people won't miss it as long as they have streaming TV.
Interesting information 😊
Amazing! Thank you BTR, I am subscribed!
Spanish Gold Doubloon (0.218 troy ounce of gold) = $4.....Spanish Silver $1 = 8 Reales (0.8219 troy ounces of silver). So, for every 0.218 ounces of gold, there would be 3.2876 ounces of Silver. That is a 15.08 Gold/Silver Ratio for Spain, not 4/1 as discussed. Not a deliberate move for debasement as US had 15/1, as well. Spain retained its value. Am I correct?
You're a very wise man.... prosperity to you!
...our 1880's era silver mine near YQT had ore values up to 19,000 opt Native Ag. Direct-shipping ore. 50 feet from the surface. Developed but unmined. Yes we've found samples with an Instrumentation GDD Beep-Mat 8...
Very excellent Sir thxu 👍
Wow !
You missed the main problem completely.
The problem is that coins get melted when their face value is exceeded by their metal value.
The mint often can not keep up and as a result business transactions become difficult.
The US tried to maintain a fixed exchange rate of gold to silver but failed repeatedy.
That is why we have subsidiary coinage.
Greshams law states good money is driven out by bad money.
At times gold was driven out at times silver.
And gold hoarding was a complete catastophy.
Now why is it you failed to mention the Gold Corner and Silver Corner of Fisk and the Hunts.
Speculators who drove up the price to irrational levels for person gain.
Do read about it and do condider what effects that has on the domstic economy.
What happens to general spending when gold and silver coins are hoarded by a fraction of the population?
Good points!
People forget the Chinese-Mexican connection.
Would you expand on that ?
Are you familiar with Rothbard's History of Money and Banking? If so, what do you think of his view that they phased out silver because a bi-metallic standard was too difficult to maintain due to the regularly changing ratios that the metals were coming out of the ground. Do you consider Rothbard's work to be reliable or untrustworthy overall? Thank you.
Abosolutely?
Well said!
Consider the effect of spanish south american silver the purchasing power of silver in europe in the 16 and 17th centuries
There was also the china tea trade that saw silver flow to china never to return.....ergo opium
I have never heard the word 'exonerate' used in the context of debt settlement. Looked at several online dictionaries and don't see any such reference. Could you enlighten me pls?
how is the rise of the morgan dollar due to the coinage act of 1893, when the first coins were 1878
At the end of the video, you state "silver is suppressed and always will be. So buy, buy, buy". What is the logic here? It sounds like a recipe for financial ruin and martyrdom.
I have to agree. I think an explanation is needed here
What is your logic when Silver is going up?
@@johngordon880 not now when biden gone
1968? Thought it was 1964?
In 64 they took the silver out of coinage except for the half dollar. Then in 68 they took the silver out of the half dollar
65-68 the half dollars had 40% silver instead of the old 90% silver, then 0% for 69 forward.
@@HalfassDIY Correction the 1970 half dollar is 40% and NIS.
1965 Coinage Act made bus tokens out of our pocket change here in the United States. Before 1965, dimes, quarters, half-dollars were 90%. Peace and Morgan silver dollars were .7734 oz silver.
Currency with any value (silver and gold), must have tangible real world wealth to pay for goods, services and debt. If any currency is debased, it robs people of their labors and their abilities to pay for anything. This is why central banks and their affiliate organizations should not be allowed to control currencies, interest rates and policies. They will choose to enrich themselves (family Banksters) over the population that works hard daily to sustain their way of life using honesty, integrity and perseverance to make it through life. Why are so many people fooled into fiat? I realize our public schools don’t teach about fundamentals in finance and currency but families should.
💧. . . 🪧
The next generation of retirees won’t be needing to sell stock (paper printed from thin air) for fiat (paper printed from thin air) to be taxed more paper. No, they will be living off their bitcoin, using it daily to pay for things directly. Spending real energy that cannot be counterfeited.
Provided the energy is available. This idea, plan, etc is fallable.
Yah until the internet goes down
@@WHATSUP7049 That's a valid concern. While it's true that Bitcoin relies on the internet, it's worth noting that the entire global financial system is increasingly dependent on digital infrastructure. Bitcoin's decentralized nature makes it more resilient to localized disruptions, as the network operates worldwide with no single point of failure. Moreover, innovative solutions like mesh networks and satellite technology are being developed to ensure Bitcoin transactions can continue even if traditional internet services are disrupted. In the grand scheme, Bitcoin offers a level of security and stability that centralized financial systems can't match, especially in an ever-evolving digital world
@@WHATSUP7049 What is even more likely - even inevitable - is for the internet and ALL ELECTRONIC COMMUNICATIONS to be SO heavily restricted and monitored that good people will refuse to use them. CBDC will force humanity to its knees and it will be the end of all freedom except for a miracle, which I personally do expect!