Tuesday, May 1, 2012 By DAVID MELSON ~ email@example.com
What officers thought was a counterfeit $50 bill turned out to be an old, legitimate bill, but the truth wasn’t discovered until a man was mistakenly charged and jailed Friday. A clerk at Quik Mart, South Cannon Boulevard, notified police after the marker used to detect counterfeit bills didn’t check as real.
“The front side of the bill was off center and it didn’t feel like a normal bill, it did look to be counterfeit,” officer Brock Horner said in his report… read more
Posted in Society
Tagged crime, jail, money
A good 5 minute video on the dollar and its future featuring US Congressman, Republican Ron Paul and Ben Bernake.
The idea of private coinage seems so strange today that it is worth examining carefully. We are used to thinking of coinage as a “necessity of sovereignty.” Yet, after all, we are not wedded to a “royal prerogative,” and it is the American concept that sovereignty rests, not in government, but in the people.
How would private coinage work? In the same way, we have said, as any other business. Each minter would produce whatever size or shape of coin is most pleasing to his customers. The price would be set by the free competition of the market.
The standard objection is that it would be too much trouble to weigh or assay bits of gold at every transaction. But what is there to prevent private minters from stamping the coin and guaranteeing its weight and fineness? Private minters can guarantee a coin at least as well as a government mint. Abraded bits of metal would not be accepted as coin. People would use the coins of those minters with the best reputation for good quality of product. We have seen that this is precisely how the “dollar” became prominent – as a competitive silver coin.
Opponents of private coinage charge that fraud would run rampant. Yet, these same opponents would trust government to provide the coinage. But if government is to be trusted at all, then surely, with private coinage, government could at least be trusted to prevent or punish fraud. It is usually assumed that the prevention or punishment of fraud, theft, or other crimes is the real justification for government. But if government cannot apprehend the criminal when private coinage is relied upon, what hope is there for a reliable coinage when the integrity of the private marketplace operators is discarded in favor of a government monopoly of coinage? If government cannot be trusted to ferret out the occasional villain in the free market in coin, why can government be trusted when it finds itself in a position of total control over money and may debase coin, counterfeit coin, or otherwise with full legal sanction perform as the sole villain in the marketplace? It is surely folly to say that government must socialize all property in order to prevent anyone from stealing property. Yet the reasoning behind abolition of private coinage is the same…..read more there….
A new gold rush
ITALIAN BAR — In the cold deep canyons of the Stanislaus River, James Anderson isn’t worried about the stock market. The weak dollar doesn’t bother him. Slumping home prices? No problem. He’s got no house but a bed in the back of his 33-year-old Dodge van.
Gold prices are up — and for Anderson and the legions of other prospectors scouring California’s old mining sites, that justifies the tedious and backbreaking work.
“When you rinse it away and see the gold sitting there, it sends something through your blood,” said Anderson, 68, who lives on Social Security and whatever nuggets, flakes and dust he finds in this rugged Mother Lode riverbed, near the town of Columbia in northwestern Tuolumne County. “It’s like an adrenaline shot.”
Stock market volatility, high metal prices and the popularity of outdoor adventure has triggered California’s biggest mining boom in three decades. As gold more than doubled in the last decade — now approaching $800 an ounce — Americans are returning to the foothills, buying picks, filing mining claims and sifting for their fortune, though few ever get rich or even earn enough to pay for the gas to cover the trek.
“Gold’s real. It is tangible, as opposed to what’s in a bank. Who knows what will happen to it there?” said Dr. Eric Madrid, a Temecula physician who left the stock market and put his savings into gold coins.
Madrid was among 80 members of the Gold Prospectors Association.…..read rest of story..
LDMA Gold Prospecting
Wednesday, Sept 17, 2008
Two time Nobel-prize winner and former chief economist of the World Bank, Joseph Stiglitz has warned that the current financial crisis will continue for at least another eighteen months and in many ways represents a worse situation than the one faced by Americans during the great depression of the 1930s.
“You can paper things over for a while but eventually you have to face reality.” Stiglitz told the nationally syndicated Alex Jones show yesterday.
“This is clearly the most serious problem since the great depression and in some ways worse in terms of the financial institutions.” Stiglitz commented, referring to the fact that lenders are unwilling to take risks to finance each other because they no longer have complete access to their own undertakings let alone those of other institutions.
“The reason, in part, is that while some of the same problems that occurred during the great depression and have occurred since, such as excessive leverage, pyramid schemes, bubbles, have happened before, the so called innovation of Wall Street, the financial innovations, that were supposed to manage risk, created a kind of non transparency that is now so great that no one knows exactly the magnitude of the risk they face.…read more here.