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 Member

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    1 house in Wilcannia, one house in Bellevue Hill. Are they not the same?
     
    adze67 likes this.
  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

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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

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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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