(17-01-2011, 02:24 AM)latch Wrote: How much does cost to spend a penny?

(18-01-2011, 12:27 AM)Pack3t SynAck3r Wrote:

(17-01-2011, 02:24 AM)latch Wrote: How much does cost to spend a penny?

If an item is $99.01 I suppose it would cost you $99.00. Is this a trick question? DOH!

For the record a 1938 penny as pictured in Mark's pic is actually work $0.07, it has a higher bronze content.

I would like to go on a large rant on the international currency scam, but I don't have the energy. But I will leave you with this....Our money has no backing of gold or silver(US and UK both.) So what gives our money value? Faith and quantity. If any of you are bright enough you will notice that can not lead to anything prosperous for 99.9999999999% of us.

Quote:Bank Of England
I promise to pay the bearer on demand the sum of
xxx Pounds

(18-01-2011, 01:54 AM)Drumm Wrote: Money is a promise to pay a value in gold. The Chinese came up with the idea I believe. In the UK if you read a note it reads:

Quote:Bank Of England
I promise to pay the bearer on demand the sum of
xxx Pounds

So you may visit the Bank of England and they MUST issue you with gold in return for your note.

(18-01-2011, 01:54 AM)Drumm Wrote: Money is a promise to pay a value in gold. The Chinese came up with the idea I believe. In the UK if you read a note it reads:

Quote:Bank Of England
I promise to pay the bearer on demand the sum of
xxx Pounds

So you may visit the Bank of England and they MUST issue you with gold in return for your note.

Quote:During the 1939-1942 period, the UK depleted much of its gold stock in purchases of munitions and weaponry on a "cash-and-carry" basis from the U.S. and other nations.[citation needed] This depletion of the UK's reserve convinced Winston Churchill of the impracticality of returning to a pre-war style gold standard. To put it simply, the war had bankrupted Britain.

John Maynard Keynes, who had argued against such a gold standard, proposed to put the power to print money in the hands of the privately owned Bank of England. Keynes, in warning about the menaces of inflation, said "By a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but they confiscate arbitrarily; and while the process impoverishes many, it actually enriches some".[11]

Quite possibly because of this, the 1944 Bretton Woods Agreement established the International Monetary Fund and an international monetary system based on convertibility of the various national currencies into a U.S. dollar that was in turn convertible into gold. It also prevented countries from manipulating their currency's value to gain an edge in international trade.

(18-01-2011, 06:24 AM)Pack3t SynAck3r Wrote:

(18-01-2011, 01:54 AM)Drumm Wrote: Money is a promise to pay a value in gold. The Chinese came up with the idea I believe. In the UK if you read a note it reads:

Quote:Bank Of England
I promise to pay the bearer on demand the sum of
xxx Pounds

So you may visit the Bank of England and they MUST issue you with gold in return for your note.

China has only recently had financial success Drumm, in your lifetime(1997) Hong Kong which was under British control(and the Bank of England) was taken back over by China. Hong Kong's central banking system was in essence copied and used throughout China afterward. There is no gold standard in China my good man. I wouldn't be surprised if China was in bed with the same private bankers that govern our banks. Because I am lazy, I will just rip a portion of Wikipedia, the important part is the first and third paragraph. Hmm it would appear that your gold is a parallel of the US dollar, which (drumroll please) lost it's gold standard. It is not coincidental that the same people that run Bank of England (privately owned, it has nothing to do with England) also run "The Federal Reserve Bank" (Privately owned, nothing Federal about it) and also the WBO, and the International Monetary Fund.


Wiki

Quote:During the 1939-1942 period, the UK depleted much of its gold stock in purchases of munitions and weaponry on a "cash-and-carry" basis from the U.S. and other nations.[citation needed] This depletion of the UK's reserve convinced Winston Churchill of the impracticality of returning to a pre-war style gold standard. To put it simply, the war had bankrupted Britain.

John Maynard Keynes, who had argued against such a gold standard, proposed to put the power to print money in the hands of the privately owned Bank of England. Keynes, in warning about the menaces of inflation, said "By a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but they confiscate arbitrarily; and while the process impoverishes many, it actually enriches some".[11]

Quite possibly because of this, the 1944 Bretton Woods Agreement established the International Monetary Fund and an international monetary system based on convertibility of the various national currencies into a U.S. dollar that was in turn convertible into gold. It also prevented countries from manipulating their currency's value to gain an edge in international trade.

End wiki

Strange that the year was 1944 with the Bretton Woods Agreement, because all gold bullion was supposed to have been confiscated in the early 1930's in the United States. Our US currency prior to the 30's used to read Redeemable for gold, but now our money simply reads legal tender. John F Kennedy actually created executive order 11110 which re-instituted a silver backed currency back in the early 60's and these bills read at the top United States Note as opposed to Federal Reserve Note. In the long run it would have made the Federal Reserve obsolete, and unnecessary. Kennedy was assassinated only a few short months after he had written 11110 into the books(coincidence????). The order was never repealed, but if United States Notes are given to a bank they are confiscated and never put back into circulation. Our country's founding fathers were adamantly against central banks and our country had managed to shut down two central banks previously. The Federal Reserve came into existence in the still of the night in 1913 when the Federal Reserve Act was passed with Woodrow "Fucking moron" Wilson as our President of the time. Most of congress was on Christmas leave and the bill was ratified on sketchy basis. Our dollar has lost 98% of it's value since 1913, and the percentage our debt has risen every year is directly proportional to the amount of currency the Fed has created. Damn it I have gone on a rant, but bottom line central banks suck donkey balls. Don't worry though they all collapse upon themselves eventually(we are bearing witness to it right now), the only thing to worry about is how evil will the institution be that takes their place? Don't think it won't be the same "private bankers" that offer a solution when our current banking system fails. Think international monetary units. One bank to rule us all.

"Give me control of a nations money supply, and I care not who makes it’s laws"--Amschel Rothschild