silver

Hugo Salinas Price:





?I think that my readers will agree that there is a desperate need for some fresh thinking about money in the US. Many respected analysts worry that the expected action by the Fed to apply a new bout of QE after the coming elections is fraught with danger.





Fiat money in the US is in an advanced stage of decomposition and when money rots, the whole social, economic and political structure of the nation rots with it. A return to sound money is urgent. More and more people are aware of the perilous road ahead if nothing is done.





The problems facing the US are so gigantic in nature, that an all-round solution to them is impossible when analyzed in practical terms. A return to sound money is a return to gold and silver as currency.





...The US abandoned sound money in a series of gradual steps; the first metal out of the monetary system was gold, in 1933; the second metal out of the system was silver, in 1965. The return to sound money would follow those steps, in inverse order: silver would return first, because silver has always been the money of the people; gold would return last, silver having opened the way.





...The powers that be in the US Government must recognize at some point that it is indispensable to the health and continuing existence of the US as we have known it, to restore silver coin into circulation. At present, its policy is to ignore public discontent; the results of the coming elections will probably do little to change its policy. The discontent of the American people will increase until the government hears the rumble of distant drums. Perhaps then, it will be willing to turn to silver, to appease the population.





...Should not the monetary value of the silver coin be reduced, when the price of silver falls? The answer is: No!


During the Depression of the 30?s, the price of silver fell drastically. This did not affect the circulation of the beloved silver half-dollars, quarters and dimes. They continued to serve the American people. During that period, the Treasury received a larger profit from minting those coins, because the silver required to mint them cost the Treasury less, but the value ? the engraved monetary value ? of the coins remained the same.





...The rising value of silver, which will continue as long as the fiat monetary system is in operation, will allow Americans to save in a very simple medium which derives its value from its silver content and becomes more valuable when the price of silver rises. This is the greatest possible incentive to popular savings, so desperately needed in America today.





...It is very important to reiterate that the US dollar would continue to be the money of the US. The silver coin would exist and float in parallel within the present monetary system; in the long-term, it is possible that it might gradually and naturally displace the present system of ?fiat? money.





...Can we know all the consequences of putting a silver coin into circulation in the United States? Certainly, we cannot. However, we know that it will be good for millions of Americans to be able to save silver money and prepare themselves for any adversity; to be able to save in order to have a secure basis for retirement and old age; to be able to save in order to have that precious thing called ?peace of mind?.





We also know that powerful interests will not be happy with this measure, because it will cause those interests losses and pain. The banks will not be happy ? they want the public to deposit their savings with them; they will not be pleased with the idea that Americans can save excellently by saving their ounces at home.





We know that silver empowers the individual and protects him from tyranny.





We know that those whose lives are linked to tyranny will not approve.?





In a time of crisis for America, and the world for that matter, a light is shining from Mexico.





I thought I would end with this portion from Alan Greenspan?s 1966 essay Gold and Economic Freedom:





?In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold.





If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.





This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.?





While Alan Greenspan has clearly lost his way, there are still men of character like Hugo Salinas Price that are shining a light on the path to freedom which is paved with silver and gold.





Eric King


KingWorldNews.com