Texas proposal the right to use PMs as money in state constition

Discussion in 'General Precious Metals Discussion' started by Skyrocket, Mar 8, 2017.

  1. mmissinglink

    mmissinglink Active Member

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    ^ Even if that wasn't the initial intention, perhaps to get legislation through, it would have to be written in a way that leaves the back door open to the legal taxation of barter.




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  2. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    What Ron Paul said. Listen all way through -

    New! Ron Paul Responds Bill for Silver and Gold As Money 2017 pt 2 Testimony Silver Gold Sound Money
    [youtube]http://www.youtube.com/watch?v=LldTw4rKyEs[/youtube]
     
  3. mmissinglink

    mmissinglink Active Member

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    Ron Paul comes across as incoherent. He doesn't finish some sentences...a pathetic Trump trait. Paul's also very wrong in presuming that gold and silver are money. Paul forgets that we are not living in the 4th century. The US $ is not fraudulent money. It may not be the kind of money some people want, but that doesn't mean that it's fraudulent. Money is what it is regardless of what Paul wants it to be.

    Additionally, Paul handled Senator Farley's second question poorly.



    As much as I'd like to see the bill pass, if the proposed bill is relying on feeble voices like Paul's to get it passed, I'm guessing it won't pass. :rolleyes:




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  4. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    You are wrong on all counts. Ron Paul does not come across as incoherent and he was also right in presuming that gold and silver are money.

    You are wrong because the bill just got PASSED! :D


    http://www.zerohedge.com/news/2017-...ill-treat-gold-money-remove-capital-gains-tax


    Now that it happened could it be a precedent for others to follow, especially when currencies start collapsing?
     
  5. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Of course it can happen, when US currency falls, history tells us, all currency fall, just like Romans, Spanish, Dutch, and Pound, of which were all Gold backed.

    As for other currencies falling affecting in US context simply no, why would it matter to Americans if the euro, aud, Venezuelans, Zimbabwe or the Brits pound collapse?
     
  6. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Why do you think gold backed will be good for gold prices?

    Do you think being gold backed will mean gold is valued at $5,000, gold backed mean spot for gold for that currency or in the case of Utah will be set ie $1200.


    Plus gold backed usually coincides with lowing of the prices of goods, not valuing gold up?
     
  7. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    ^ I didn't say anything about gold backed.

    btw, I guess all this printing money backed by nothing is what mainly contributed to keeping PM prices down. If the USD was still always gold backed could the Fed have printed all that helicopter money out of thin air?
     
  8. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    In that case, I agree this won't do much, it's just a big PM dealership owned by state government.

    Much like Perth Mint. We can buy WA government gold certificates today.
     
  9. mmissinglink

    mmissinglink Active Member

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    skyrocket,

    You are woefully wrong. Your argument suffers from a big fat smelly logical fallacy.

    That the bill passed is not a causal relationship with Paul's incoherence. ( Post hoc ergo propter hoc )



    Paul certainly was incoherent in much of his mumbling testimony.


    As I've already stated, I'd be happy if the legislation passed both houses of Congress in spite of Paul's lousy performance. It passed Committee, it still has a long way to go.



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  10. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    I hope it's soon I in Texas in December, if I have time I'll make an effort to visit. It will be a novel place to visit to get a bucket full of junk coins.

    Pity it's only US legal tender coins, it could have been a PM Mecca, hopefully when and if I get there the powers that be in Utah have set the price below spot. But to make this work I suspect they will have to set it above to get enough coins into the state for circulation.
     
  11. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    It passed the first hurdle and am hopeful if will pass the others. If/when it does it will be a precedent for others to follow.
     
  12. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    precedent ok so again how many oz of worthless gold will u give me for my precious precious dog turds?
     
  13. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    I'll send you one ounce of my precious silver if you show me video proof of you eating one of your precious dog turds :D
     
  14. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    why would I eat one of my precious dog turds they worth their weight in gold, that would be like using strips from the mona lisa to roll joints with.
     
  15. mmissinglink

    mmissinglink Active Member

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    It (the value of any inanimate thing) really basically boils down to supply and demand. If lots of people will demand CJ's dog's turd and are willing to pay handsomely for it and CJ restricts the supply, then it's value could conceivably be greater than gold.

    That dog turd, gold, and paper money have exactly the same intrinsic value....zero. Any and all value either has is value that individuals or groups of people collectively attach to it.




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  16. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    Fine. Keep your precious turds and I'll keep my precious silver.
     
  17. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    Until everyone cottons on to CJ's practice of forcefeeding the dog to triple his daily supply before moving on to secreting extra dogs away in the basement and pretending that the original dog is now producing 20kg a day. Inflation skyrockets and everyone's savings are worth shit.
     
  18. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    I have tripped the output by having 3 x dogs not force feeding 1 dog ;p
     
  19. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    This thread started out interesting....and now is a bit on the nose.

    Can we get back to the topic?

    Idaho seems to be the next to make a move in this space :-

    http://www.zerohedge.com/news/2017-...helmingly-end-income-taxation-precious-metals

    I think it's very encouraging that Americans are waking up the issues, and while I don't see this creating a huge demand for PMs in the short term, I do agree with Skyrocket that this sort of policy could change across the US states quite quickly.
     
  20. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    ....and then onto other nations hopefully
     

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