Max Kieser did a very interesting interveiw with Hugo Salinas Price, the interveiw is half way through the show after Max n' Stacey's fraud slapstick. I solution for this problem is very rarely talked about except for more of the same austerity sandwich. This could gather ground swell! http://www.youtube.com/watch?v=Hhi2BBfbZU8
Hmmm, seems to me you don't get out of a reckless 10 year bender by 18 months of so called austerity, where people think a depression and tightening their belts means skipping the iphone 4 and just waiting for the 4s. Most countries who are so say in austerity mode aren't even putting a balanced budget to their parliaments. When we see something close to the 1930's I'll believe we're doing austerity.
lol I like max... hold it against me 13:04 when it gets interesting Gonna buy more Libertads WOW Watch this from 13:04
Fantastic idea, but it would greatly benefit the public of Greece, hence it will never happen. The people up the top want us enslaved remember?
He's talking about a coin with a face value measured in ounces rather than currency units i.e. "worth whatever the metal is worth in [currency units] today". 1967 called. They want their Krugerrand back.
Like the idea. Hasn't he been plugging for this in Mexico for some time now? And on a side-note http://maxkeiser.com/2012/06/03/stacy-yes/ They're making it official Will the name of the show change?
^ hahahaha Amazing how much he BLEW this oppertunity to explain how the NEW Silver Currency would work.... im sure any of us would of done a much better job than Hugo here.. its like he had a brain freeze.. very annoying.. i felt like jumping into my computer and explaining it for him GRRR 1for1
Should this ever happen, would that be a good time to convert to grams. Maybe create a metric ounce at 30oz? I'd lean to 5, 10. 25. 50 and 100 gram "coins" and bars or "notes" at 250g, 500g and 1 kilo and 5 kilo. No more dividing by 31.1.
His idea doesn't make sense from around the 19 minute mark, he suggests releasing coins based on weight... if the silver price falls, used an example of coins maintaining their FACE VALUE, can't have both! If I'm wrong, then I'm confused Cheers Alfie
The idea is that you have two monetary systems operating in parallel with some kind of transparent and officially recognised exchange rate between the two. For example, the Silver-to-Euro "fix price" for today might be EUR 22.80 / oz and that exchange rate will be good for all transactions occurring today. That means 1oz of silver is worth EUR 22.80 and EUR 22.80 is worth 1oz of silver. If I buy something from you that costs EUR 30.00 then I could pay you 1oz of silver plus EUR 7.20 in "fiat" Euros and you'd have to accept it because the silver coin is legal tender. Tomorrow the Silver-to-Euro "fix price" will be different - Euros might be worth more if the price of silver goes down or they might be worth less if the price of silver goes up. Or silver might be more in Euros because the market has sold Euros to buy the USD. Either way, there is always some kind of exchange rate that exists between everything. Like I mentioned above, South Africa did this decades ago when they introduced the Krugerrand and established a "Gold Standard Lite" monetary system.
I liike the idea. That means whoever gets into the scales business and sells each shopowner a small set of troy scales (not your Con the fruiterer Vegie Type) stands to make a motza of shekels. Cheers markcoinoz
No need to go metric - silver already has a currency code - XAG - represents one ounce of silver. 0.10 XAG coins would be equivalent to ~$3 at the moment. Would need to be an alloy though - 50% would be ideal from a circulation perspective, .900 and .925 wear too easily. Even at 50% the coins would have a greater "value density" than existing $2 coins in Australia. Silver for consumer transactions, gold for commercial/property transactions? Interesting concept of the dual currency economy - with both circulating fungible and fiat currency. Greshams Law would mess with it, everyone would hoard the silver coins. Bigger question - what would standing for delivery of a thousand tonnes of physical do to the paper price?
