Ron Paul likes price gouging, and the way he explains it, ..

Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: samhill On: Mon Nov 26, 2012 9:59 pm

They both would have died in their sleep, can't believe in fairy tales life is not a fairy tale life is real. Like I said you are confusing the metal value with dollar value, as a $20 dollar gold piece if exchanged for dollars it would be worth face value of $20 not the metal value or the collectible value. If you would go back to 1913 & do the work that they had to do for that $20 you just might not have made it. It's gone, just like that old steam engine running down the track, it ain't coming back. You want yesterdays dollar for today's work with all the advancements that many others before us fought & toiled for.
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: Flyer5 On: Mon Nov 26, 2012 10:03 pm

So ho much is a $50 savings bond worth today from 1977?
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: freetown fred On: Mon Nov 26, 2012 10:08 pm

Actually we don't have a history at all except my thinking your posts are simply ego driven as you do mine.
jpete wrote:
Northern Maine wrote:
jpete wrote:I give what I get. People want to sling mud, I can sling mud.

If you want to have a discussion, I can do that too.


Not mudslinging...just presenting an observation...it may not be acceptable to your ear, but it is factual in my "tiny" little mind! ;)


I don't disagree that I'm giving you a hard time. But IMO, that's what I got from you first. I certainly will admit that I may have taken something the wrong way. If I did, I apologize. My ego isn't bigger than the message I'm trying to convey.

Sam and Fred and I have a history. Kind of like the Hatfields and McCoys. :D
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: lsayre On: Mon Nov 26, 2012 10:10 pm

samhill wrote:They both would have died in their sleep, can't believe in fairy tales life is not a fairy tale life is real. Like I said you are confusing the metal value with dollar value, as a $20 dollar gold piece if exchanged for dollars it would be worth face value of $20 not the metal value or the collectible value. If you would go back to 1913 & do the work that they had to do for that $20 you just might not have made it. It's gone, just like that old steam engine running down the track, it ain't coming back. You want yesterdays dollar for today's work with all the advancements that many others before us fought & toiled for.


Sam, if you took an old $20 US gold coin to a reputable gold dealer like Northwest Territorial Mint (and it was banged up pretty good, totally ruining its potential numismatic value, leaving only its gold) they would be giving you about $1700 for it today. Rip Van Winkle would have about $51,000 in his pocket in 2012. Sleeping Beauty would still have only $600 in her purse in 2012.

I just grabbed this off the net: "An 1879 $20 Liberty gold coin minted in Philadelphia has 0.9675 Troy ounces of pure gold or AGW. If gold is $1,800 per troy ounce then there is $1,741.50 worth of pure gold in it."

However, if you are unwise and you take it to a bank instead, they will give you $20 in paper dollars for it (and then they will cash it in at a reputable gold dealer for the $1700 worth of gold).
Last edited by lsayre on Mon Nov 26, 2012 10:19 pm, edited 3 times in total.
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: jpete On: Mon Nov 26, 2012 10:14 pm

freetown fred wrote:Actually we don't have a history at all except my thinking your posts are simply ego driven as you do mine.


I don't think you are ego driven Fred. I just think you're wrong and don't care enough to be right. :D
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: samhill On: Mon Nov 26, 2012 10:20 pm

I'll say this one more time you can't compare metal value to dollar value. If you had a brand new 55 T-Bird would it be worth more or less than a 2012 T-Bird?
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: lsayre On: Mon Nov 26, 2012 10:23 pm

samhill wrote:I'll say this one more time you can't compare metal value to dollar value. If you had a brand new 55 T-Bird would it be worth more or less than a 2012 T-Bird?


If you had 30 x $20 old US gold coins (numismatic value aside, considering only the gold) you could probably buy several of them. If you had $600 in FRN paper dollars (regardless of age, be it 1913 through today) the guy selling the 55 T-Bird in mint never driven condition would assuredly tell you to quit wasting his time and get lost.
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: jpete On: Mon Nov 26, 2012 10:25 pm

samhill wrote:I'll say this one more time you can't compare metal value to dollar value.


Of course you can. $1,741.50 to one ounce.
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: samhill On: Mon Nov 26, 2012 10:30 pm

There is no such thing & never will be again. You can't get pass the metal value of gold, if they would go back on the gold standard just for you how long do you think you would have to you think you would have to work to earn it? Same weight but it would now be a different face value, how many hours compared to 1913?
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: jpete On: Mon Nov 26, 2012 10:32 pm

Sam, if the value of a gold coin is ONLY worth its face value, why did the Federal government prosecute Las Vegas businessman Robert Kahre for using them at face value?

http://gata.org/node/7689

Jurors start deliberating today whether business owner Robert Kahre and several others willfully broke federal law by taking their pay in gold and silver coins, but reporting only the coins' modest face value on their income tax returns.

Jurors must examine two diametrically opposed portraits of Kahre that were painted during the trial, which has lasted almost three months.

The 48-year-old Rancho High graduate, who has six construction businesses, is a man with a "portfolio of excuses" who was "on a mission of deception" to disguise his tax evasion, according to federal prosecutor J. Gregory Damm.

Or, according to his attorney, William Cohan, Kahre is a brave sentinel who tried to fend off federal tax tyranny by exercising what he believed to be his right to go by the dollar value stamped on the post-1985 $50 gold and $1 silver coins he used for payroll.
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: lsayre On: Mon Nov 26, 2012 10:39 pm

The US Coinage Act of 1792 defined the US Dollar. It was to be a coin containing exactly the same assay of silver content by weight as the then popular Spanish Milled Dollar (or Spanish Piece of Eight in street vernacular), which is the coin from which we got the very name Dollar in the first place. The Spanish Milled Dollar remained in circulation for decades as a legal dollar coin within the United States. Because the US dollar and the Spanish Milled Dollar had the exact same amount of silver, they were equivalent in value.

The Spanish Dollar could be segmented into 8 equal separate parts (thus the common name Piece Of Eight). The US dollar by comparison was not segmented. The old American children's jingle: "Two Bits, Four Bits, Six Bits, A Dollar" was talking about the eight "bits" that you could break off of a Spanish Milled Dollar.
Last edited by lsayre on Mon Nov 26, 2012 10:41 pm, edited 1 time in total.
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: freetown fred On: Mon Nov 26, 2012 10:39 pm

You must be right, and that's obviously why I'm where I am today & you are where you are at.
jpete wrote:
freetown fred wrote:Actually we don't have a history at all except my thinking your posts are simply ego driven as you do mine.


I don't think you are ego driven Fred. I just think you're wrong and don't care enough to be right. :D
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: jpete On: Mon Nov 26, 2012 10:41 pm

freetown fred wrote:You must be right, and that's obviously why I'm where I am today & you are where you are at.


Debt free? Learning a new trade? On the couch? To what are you referring?
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: lsayre On: Mon Nov 26, 2012 10:45 pm

samhill wrote:There is no such thing & never will be again. You can't get pass the metal value of gold, if they would go back on the gold standard just for you how long do you think you would have to you think you would have to work to earn it? Same weight but it would now be a different face value, how many hours compared to 1913?


Perhaps it is that you can't "accept" that the metal value of gold is a wealth preserver over vast periods of time (whereas paper dollars backed by nothing are not)? Which would you personally rather have in your pocket right now. 30 x $20 US gold coins, or $600 in paper FRN's?
Last edited by lsayre on Mon Nov 26, 2012 10:48 pm, edited 1 time in total.
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Re: Ron Paul likes price gouging, and the way he explains it, ..

PostBy: samhill On: Mon Nov 26, 2012 10:46 pm

As I said they are no longer, they are gone, he was trying just as you to use them both ways to his own benefit to avoid taxes. You somehow think you would still be making gold coins at face value but selling them at metal value. The gold standard is GONE. Now I have to run out & buy a 2 cent loaf of bread & a 4 cent gallon of milk.
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