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The Liberty Dollar made a tactical mistake when they made their money look sort of like government-issued money. If you're going to use gold and silver as money, you should use generic gold/silver rounds and value them based on the spot price. If you want to use gold and silver as money, you have to work off-the-books, because of the way gold and
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One such law is the income tax. Here is an example: Your raw materials cost $15 and you sell for $20. You owe income tax on $5 at 50%. Your total tax is $2.50. Same example, except you use on ounce of silver; suppose the spot price of silver is $20 to avoid rounding. Now, this is a barter transaction. Each party owes tax on 28% of the value of the transaction
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In a free market, you can't have negative "real" interest rates. People would hold onto gold and silver instead of investing for a negative rate of return. The Federal Reserve causes the actual interest rate to be far lower than it would be in a free market. With fiat money, people can't defend themselves from theft via inflation by
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[quote user="Esuric"]How can the real rate of interest be -19.75% or -29.75% when the supply of savings is around 6%? Negative investment demand (is this possible)?[/quote] The reason is the Federal Reserve price fixing cartel. The Federal Reserve has the power to create as much money as it desires, no matter how much people actually choose
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I consider the price of gold to be the most accurate measure of inflation.
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I usually offend nutjobs when I write. I consider that desirable. Of course, "Who is a nutjob?" is a relative definition. All you need to say is "The AMA licensing cartel artificially restricts the supply of doctors. This drives up prices and forces the rationing of medical care. It is silly to talk about healthcare reform without addressing
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Junk silver seems to be a premium of a couple percent compared to generic rounds. When buying junk silver, remember that the coins are worn from circulation. The actual silver content is less than it was when the coin was newly minted. Personally, I'd just deal with rounds and bars to avoid confusing. The only hard part is that I haven't seen
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Nominal interest rates - the rate you can actually borrow at. The Fed Funds Rate is currently 0%-0.25%. There's nothing controversial there. The inflation rate is measured in many ways. There's the CPI, which is a bunch of lies and propaganda. There's M2, currently around 8%-9%. There's reconstructed M3, currently around 10%-20%. There's
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Really? I didn't know that. I checked on Kitco and it's gone now. They used to sell them. The smallest coins I've seen are 0.5 ounce silver rounds on APMEX. You also could use "junk silver" (pre-1964 State-issued silver dimes, quarters, and half dollars). I haven't seen any 1 ounce copper rounds anywhere. For small valued coins
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"There's not enough gold" is a silly excuse. You can use laminated gold slivers for small transactions. You can even buy them on Kitco! You can use silver or copper for small transactions.