What is a Dollar?

Discussion in 'Silver' started by rainy day, Nov 5, 2020.

  1. rainy day

    rainy day Member

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    History shows that the real “dollar” is a coin containing 371.25 grains (troy) of fine silver. Or 0.84 troy ounces.

    Measuring the value of an ounce of silver in a unit defined as 0.84 ounces of silver does not make any sense.
    An ounce of silver in dollars should be 1/0.84 which equals - 1.19 dollars. If it is not this value then something has gone astray. The scales are not in balance. There is a force at play which is causing this imbalance.

    It is madness to measure the value of our silver in dollars, because they are both the same thing. It is like saying my scania truck is worth a scania truck. My house is worth "1 house".
     
  2. Mill3d

    Mill3d Active Member

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    1 house in Wilcannia, one house in Bellevue Hill. Are they not the same?
     
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  3. Number 47

    Number 47 Well-Known Member

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    In 1971 it all changed for the better for those who held on to their stacks. The dollar was no longer backed by precious metals and became fiat, It's just a complex system of credit powered by debt and interest.
     
  4. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    It's a unit of measure
     
  5. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    Can't say I agree with you there @spannermonkey, if it was a unit of measuring the worth of something, then it should be able to buy
    the same amount of stuff it could when first introduced, and that is sadly not the case.
     
  6. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Some say even if currency wont buy anything it still has value haha
    As tp or woodstove fuel! You could use it for wall paper, whatever.
     
  7. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    " In theory"
     
  8. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    "In theory" anything might be possible, even monkeys turning into humans on a long enough timespan some say:D
     
  9. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Theres nothing about a dollar that says it needs to be a stable store of value.
    It was only stable when it was backed by gold.
     
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  10. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Our constitution in the US says a dollar is measured by a certain weight in silver, maybe is common everywhere I'm not sure.
    Of course it isnt measured by that anymore but is supposed to be as stated.

    I suppose it was some common formula used back in the day and it conformed well as a durable coin.
    Ive never figured out why it's that certain amount and way too much ganja tonight to think that deeply.
    I dont want to work that hard.

    Sitting here rolling around a couple walking liberties in my hand right now. Now that's a buck right there!
    Theres no question when you hold it.
     
  11. Number 47

    Number 47 Well-Known Member

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    noun: dollar; plural noun: dollars
    1. the basic currency unit of the US, Canada, Australia, and certain countries in the Pacific, Caribbean, SE Asia, Africa, and South America.
    2. A system of credit and debit.
    3. A fiat currency system that is made possible only by an increasing population borrowing and paying interest.
    4. A depreciating store of value, medium of exchange, unit of account, portable, durable, divisible, fungible and constantly eroded by inflation.
     
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  12. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Nothing says "1 dollar" should hold it's value or purchasing power against other commodities.
    Likewise, nothing says that silver or gold should hold it's value or purchasing power against other commodities.
    Markets will determine each commodities relative value via demand/supply. ;)
     
  13. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    "Markets" as in the manipulators dumping a large percentage of the worlds annual mine production of precious metals via fictitious paper metal contracts
    during thinly traded times to slam the spot prices down at regular intervals?

    Which planet are you from again @wrcmad ?

    I am having trouble discerning if you are just taking the 'mickey out of people' with some of what you post, or if the last three letters of your
    nickname is a clinical diagnosis.
     
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  14. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Yeah I don't buy the manipulation BS.
    Not taking the Mickey - just simply own my investment decisions rather than passing on blame if I am ever wrong.
    Also, I bet even you can show me evidence of dumping onto the futures markets - you need to learn the difference between open interest and current month/deliverable, and manipulation vs spoofing. ;)
    I stand by my comment that markets will determine each commodities relative value via demand/supply. ;)
     
    Last edited: Dec 16, 2020
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  15. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    Don't give me any of that technical mumbo jumbo @wrcmad, about open interest and current month/deliverable, or manipulation v spoof.

    You may be able to impress @leo25 with your hair-splitting but not me, I have been around too long for that sort of thing.

    The fact is if you are selling something that exists only on paper or digits form and not physical, then it is a scam and a Ponzi scheme,
    you can call it supply/demand and normal market practices if you so wish.

    And who said anything about blaming the manipulation for investment decisions (that is something that you keep sprouting each time you post )

    I am quite happy with my precious metal investments over the last 40 years and blame no one but myself for my decisions.

    Sure I could have become a lot richer over time investing in paper assets such as shares or even paper gold for that matter, but the accumulation of DOLLARS
    is not the driving force in my life ( unlike a lot of other people ).

    There are more important things in life, I hope some of you find that out before it is too late.
     
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  16. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Technical mumbo jumbo? :p
    It isn't that technical..... you should know that after 40 years.
    Just because it doesn't fit the stacker narrative, does not make it wrong.

    Oh dear. Really?
    Fact is that most transactions, even at the retail level, are executed using some form of the futures contract.
    Ever order a new car from the dealership that they didn't have in stock? = deposit down, delivery date confirmed, walk away with a bit of paper that represents the car you don't have yet? The dealer just shorted you a car.
    Same if you have ever ordered a piece of furniture that wasn't in stock, or a TV - deposit down, delivery date confirmed, walk away with a bit of paper.
    At it's simplest even ordering and paying for a hamburger at the fish and chips shop, waiting with your ticket (futures contract) while the guy cooks it to be delivered in 10mins.
    Scam and ponzi? Don't think so. That's why so many businesses use the futures market to hedge their own production or buying.
    But you have probably been around long enough to realise that?

    I figured out the important things in life some time ago....
    Evidence of this would be to just look at where we both live. ;)
     
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  17. leo25

    leo25 Well-Known Member Silver Stacker

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    That's not the part i was giving the like for. I just find it funny how people selling nothing contracts is manipulation to the down side, but when people buy nothing contracts that's somehow not manipulation to the up side?

    In my eyes if you buy a contract with no intent in ever receiving gold, then it's the same as someone selling with no intent of ever delivering it. It evens out.

    The physical market is all anyone should be interested in and if at these prices you can buy as much gold or silver as you like plus miners and refiners can extract/refine it for a healthy profit then where is the manipulation?
     
    Last edited: Dec 16, 2020
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  18. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Big like @leo25. :);)
     
  19. Mill3d

    Mill3d Active Member

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  20. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    Will you two lovebirds please take you blossoming romance to your secret squirrel room, not out here in the public domain for all to see:eek:


    Of course the manipulating cartel have to let the precious metal prices rise, so that they they can then manipulate them down again, its how they make money
    on the way down as well as on the way up ( I thought that even pea brains like you two understood that );).

    Its one of the oldest scams going around, same as they back and fund both contestants in any war.
    That way they make money of both the victor and the loser ( and control and indebt them both )

    But the good news is that these Luciferians are not invincible despite what they may think, and their paper precious metals castle will one of
    these days come crashing down, so make sure you have some of Gods honest money to protect you when that time comes.:)
     
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