#97: Awakening the Deluded Masses

Yes, I know, I used one of those dreaded words, the “masses,” the words THEY use for us. But most people out there are completely unaware of where they actually are in the scheme of things.

This was from Dennis and covered so many subjects, that I decided to use it to make some vital points:

The current debt is bogus----no financial consideration was offered by the so-called lenders who created the currency ex nihilo only when some party (sucker or serf) signed a promissory note to a member of the banking cartel. 

The debt he's talking about is the Federal “public” debt. The government exchanges bonds (debt instruments) for the money issued through government spending. The government, not you or I, thus decides to buy what THEY want, not what you or I want, and they get to do it “on our dime,” as they say, because we are not only on the hook for the principal spent, we must pay back from uncreated money, an interest rate to the bankers.

The central bankers are the ultimate power in today's world power system – Mystery Babylon, the mystery being that they are not perceived to be the actual power - and all wars are based on the struggle at the top to remain in power. The central bank for the US government (as it's “best credit risk” customer, therefore its perpetual debt slave), the Federal Reserve, created that money out of nothing, by fiat, out of nothing, ex nihilo, and as Dennis doesn't perhaps get yet, that their fiat to issue money was STOLEN from all of us. This blog contends that the fiat to issue money belongs to us, as a natural right covered in our right of contract to do anything with each other under the oldest known natural law. Subverting contract law automatically proves you live under a tyranny which defies nature and propels society and all life itself toward death and should by all rights be overthrown, exactly as Thomas Paine (not Tom Jefferson) wrote in the Declaration of Independence.

But that is beyond the purposes of this blog and we specifically DO NOT advocate violence. In fact, we actively encourage all members of the military and law enforcement, as well as their families, and their grandmothers, to be among the first to join us in establishing our independent exchanges. Our intent has always been to propose an alternative to THEIR monetary system, a place to go to before and after THEIR system implodes.

The idea, as proposed by some, of giving people an unearned stipend to each citizen as a guaranteed income, is one of the worst ideas imaginable. What you subsidize you get more of! And such action subsidizes indolence.

Before stating the contrary obvious to Dennis and others, I simply point out that right now all money spent under the US defense budget is a far larger waste of money than providing “the lower orders” some subsistence purchasing power. But that aside, this statement would be acceptable if there really was a natural economy in operation. But there isn't one anymore, because all the money is in fewer and fewer hands and as they trade it back and forth and the government continues to spend, spend, spend, its completely unbacked money, well then prices steadily rise.

The economy has been destroyed through all the consequences of capitalism; outsourcing, etc. What Dennis complains about here is socialism, usually of the state sponsored variety and the reason state socialism MUST be allowed is that without it, there would be a huge social revolution against the looters, the capitalists, those who make money on money without work.

Somehow Dennis doesn't get that not only the poor don't work, but the rich don't work either. We're not talking about those with a few million or those with a few hundred thousand in total assets, oh no, I'm talking about billionaires who can buy whole countries. These are the rich I'm identifying as rich. Meanwhile in order for the rich to get more riches the people in the middle must be looted of what little they still have, especially the lower order millionaires, and they ARE being looted too. Without them, there really is no economy and no future. So what does Dennis propose to solve this situation?

What is needed is a return to commodity money, the money which emerged naturally as the most marketable object of exchange in all the great river basin civilizations throughout history----namely gold, silver, and (formerly) copper. And very importantly, allow prices then to adjust freely to available supplies of silver and gold, and above all, quit allowing the banking class to create currency as debt, the most egregious example of an unconstitutional fraud that can be found in our land and, by extension, now throughout the world.

Very well, let's parse this: First of all, Dennis, seriously pal, commodity money is what we have now. The money itself is a commodity, bitcoin is a commodity, most people's idea of money is as a commodity. It's in our language too; how much money does one have, etc. Some even theorize that one must match one commodity used as money with everything else that's produced as commodities and all this must be subject to rigorous planning bureaus, else one would have inflation.

Also, and this is important Dennis, your ideas about silver, gold, and copper and history itself in these matters, come from economist fraudsters, the so called “Austrians,” who want you to ignore all of REAL history concerning these metals. Their acceptance was not natural at all, it was FORCED on people and the heads of the rulers were stamped on all the usual coins, you paid those back to him as taxes and used what you could earn as money for everything else. These were times when life for the most part was “nasty, brutish and short.”

Precious metals are just some other commodity. If more comes to market or not is based on whatever uses the metals have and all three of these have very good specific industrial and artistic uses. People's habitual looking backward is not going to help solve anything, Dennis. The past was “nasty, brutish and short” for most people and we see no reason whatsoever to go back there. Plus, those who have the most of these metals when used as money inevitably become the masters and those without become the slaves. Dennis, seriously, at the bottom of the Great Depression of the 1930's, we had a gold standard and 35% unemployed and there was still the inevitable inflation, even with natural depreciation, which continued right through 1971 when we left that standard.

The biggest lie the “Austrians” tell the world is that precious metals were accepted naturally by people in trade. In fact Dennis, these metals were FORCED on people at sword point, and later gunpoint. The “Austrians” are flat out liars and I will continue to say so until their “economics” is thoroughly discredited. Read The Babylonian Woe by David Astle and then get back to me.

The so called “market” for all of these metals is THEIRS, Dennis. They control the mines too. There is no point at all in trying to imagine a situation where a supposed free market exists, where principles would work to the advantages of the average person in the street. It's idealistic dreaming. This is another delusion perpetrated by the “Austrians” for their own purposes, since THEY ALWAYS EXTOL USURY, Dennis! In fact, Dennis, the entire basis of the so called “Austrian” alternative is to continue the control of the money lenders, period!!! But I assume that Dennis doesn't really yet know this. Dennis says further,

You can still have the convenience of paper money and checks, but those instruments must always be redeemable 100% in silver or gold grams. You can still have credit cards, but swiping a card becomes the actual transfer of gold or silver ownership for a prescribed term and lent at interest by a segment of the population who is fully cognizant of the true loan contract and its terms of interest, the latter not being set arbitrarily but in unhampered capital markets.

Wait a minute, Dennis. There are no unhampered capital markets. The idea of trying to create one is preposterous, EXPENSIVE and completely unworkable. The people you listen to want to keep their public audience dreaming of something and feeling angry about something they can't do anything about. It will never happen, because as you have failed to see, even the precious metals are THEIR money, under THEIR absolute control, period. They determine what it is worth in all the rest of THEIR brands of money. Unless the money you use is actually yours, if you did not issue it, then it is not yours, then you have no control whatsoever over anything that you use it to buy. Our proposal is far simpler, cheap and we let them determine just what their money is worth compared to ours which does not change as it is based on the present value of a transaction at a specific point in TIME rather than any quantity of any commodity.

Step out of THEIR world and take a look at it differently: we said that at inception 11/2/11 one ounce of gold would be worth 1,000 Valuns, and today, even with the price of gold way down from inception, no one knowing what a Valun is truly worth would part with less than V1,000 for an ounce of gold, though in THEIR world to us, gold's real value is down by 23% or so. We accomplished this within our own market in Valuns, NOT THEIR markets in THEIR precious metals and it costs us nothing to do so.

It is also very possible and maybe even more desirable to use the Islamic model of capital formation in which no loans are given but money is transferred against a stake in the profits of the enterprise.

This relates to finance and as we have shown, there are ways to get free of usury. We'll have more to say about alternative finance in future papers.

Dennis and everyone else needs to scrap everything they think they know about money and start over in their thinking. What we need is a standard all right and since Dennis and everyone else that has sent in comments tells me, they want that standard to involve gold and silver. So we did that. Instead of a commodity as money, we determine a piece of purchasing power at a particular time as the basis for all our money. Instead of a commodity, we call this a transaction basis.

This idea is not new. It was rediscovered by economists who did not support the present money and banking system, but were critics of it; both Arthur Kitson and E. C. Riegel agreed about this. The transaction basis of money was also probably known and used by Solomon as well, yes the Biblical Solomon. It was said under his rule that gold and silver were so cheap that people trampled these under foot. I recall as a kid dropping a silver dime or quarter and nobody thought anything of it, we walked on them. We do not live in those times now and we have supplied enough resources on this blog to determine the reasons and causes, but that is not our purpose.

By the way Dennis, none of the money in our proposed system is borrowed from anybody, so it doesn't need to be paid back to anybody. It circulates until it is used to buy something that depreciates and in that process goes out of existence as THAT is the correct and vital way to perceive money, not as some stagnant lake of some finite commodity but as a stream that must continually be replenished else economies die. So it DOES matter just who gets to issue money, now doesn't it?

As it is now human life is valued pretty low, such that some consider it worth senselessly killing billions off the face of the earth and all just to remain in power. It all has to do with the chosen basis of the money we use. If we issue our money, and yes we do have a standard for it that does not change, then each new human being that is working, producing, contributing, participating in our proposed system will be not only the source of wealth, but more wealth will build up naturally and solve the many terrible problems that beset us. We'll need to as their system is the Titanic and it has already hit the iceberg. So Dennis, this proposal is not just some whim of mine, it really does matter and deserves consideration and widespread action to bring it about.

Note that their money establishes our exchanges with all of their money. But we do not need any reserves of any precious metals at all. By far the most of the money we issue will be backed directly by our labour though the poor among us will have limited issue. THAT is the only source of so called free money in our proposal. But the amounts we will allow will permit launching pads for real businesses to grow back from the ground of local human need where it belongs, not from on high by some mighty dinosaur state or bank. As for “cash.” The proposed V-Check transfers Valuns from one account to another by means of an exchange wide account. Dennis and others, while economics, POLITICAL-economics more correctly designated is surely mostly absolute bunk, accounting is essential as all monetary systems center on a ledger that used to be in some big book and now is of course on a computer. The technology has made a worldwide monetary system operating locally under a worldwide standard a real possibility for a really small cost.

As for this blog: we are about to embark on another series we're calling The Road to Prosperity. It will be presented on two of my websites simultaneously.

David Burton
dpbmss@mail.com

Current Hypothetical Value of a Hypothetical Value Unit

 
[9/25/16: Well, I got the following response from Dennis and by the way Dennis happens to be in a profession that I highly respect. Nevertheless, I guess I wasn't too surprised when he asked,

Q: Why you will not accept the existence of a natural standard of currency in the form of the money which arose spontaneously as the most marketable commodity but must resort to a very abstract valun? 

A: Real simple, gold is a commodity that THEY control, not you or me. Wishing that the price of gold were higher or lower or whatever in terms of dollars or any other of THEIR money or that you or I could have a say in any of it is a fantasy that certain people want to put before the general public as deliberate false hope. So they float all sorts of nonsense about how much better a gold standard is. Well it may be, FOR THEM, but not for you or me.

You know what our enemies have that they can and do use against us all the time? They DELAY everything for as long as they possibly can, for a decade, twenty years, a century, longer than you can possibly live. Why? Because it's THEIR money, not yours or mine and they can literally buy time. Also, and I sincerely regret to tell you this, but again, why should you have been reading the works of snakes or listening to them? I mean the “Austrians” of course. They are liars from the beginning. If they tell you that gold was freely chosen and you're expected to just believe it, then honestly you haven't read much monetary history, or regular history for that matter.

Believe me, I was sort of a "gold bug" for a while, I even made a lot of money for some of my clients between 2002 and 2007 on the big rise in gold and for the most part my clients just bought and held and sold off when it got high enough, same as any other of their investments. How many people can or would even get that far, Dennis? Very few, and THAT is the significant issue.  Most people don't even care for gold that much.  They have superstitions about it.  Perhaps they instinctively know that there's always blood associated with gold.  Recall what the liars told you and who they are.  

The truth is that “gold buggery” is just another kind of superstitious religion (idolatry) and from the standpoint of a banker, he just loves that he has the opportunity to keep up his fractional reserve lending business while betting on the ups and downs in THEIR rigged gold markets. You know what, Dennis? If you knew what I know you would run from gold, you'd begin to see it as the real poison that it is. The best thing to do with it is store it in vaults and if some nasty government comes along and wants to get paid, you give them some, just like THEIR Constitution says to do. Meanwhile, you keep and spend the money you earned with your own efforts and issued yourself among the PRIVATE company that you keep, which could be in your own community or around the world, since the Valun is a worldwide standard. There are plenty of other reasons, but this is possibly enough for now.

Also you misrepresented several of my positions. I will get back to you on that. For starters, this whole paragraph:

By the way Dennis, none of the money in our proposed system is borrowed from anybody, so it doesn't need to be paid back to anybody. It circulates until it is used to buy something that depreciates and in that process goes out of existence as THAT is the correct and vital way to perceive money, not as some stagnant lake of some finite commodity but as a stream that must continually be replenished else economies die. So it DOES matter just who gets to issue money, now doesn't it?

Of course it matters who issues money, a centralized authority or the actual participants in exchange---and those participants naturally gravitate to an objective standard.

There's nothing more objective than TIME. The time you were born and the time you will die are definite objective TIMES. There is a certain brand of physics afoot that claims that time doesn't really exist, that we can't measure it, etc. More elastics from those with elastic ideas and elastic morality and ethics, etc.  But I am increasingly skeptical of any and all relativistic excuses, because ultimately what these scoundrels are attempting is to say that objective truth doesn't really exist. Well, nobody uses a ruler that changes measures every day, so why should the money we use be incapable of stable measurement of value? Why does a chunk of gold buy less today than at Valun inception back at 11/2/11?  Yes, it IS an abstract concept, but it is based on a objective standard, a specific objective transaction at a specific time that anyone could check by consulting readily available data.

But the idea for a transaction based monetary unit was all in Riegel's works to begin with. When I read them in about 2010, I realized I had stumbled upon someone with an economic perception that challenged everything I had ever read up to that time. Riegel's ideas (and those of Kitson before him) largely demolish conventional economics. He returns the power to the people, to everyman and everywoman.  He doesn't require a state to do it, he requires something like a bank that doesn't lend money, he called an exchange.  He based his transaction on a dollar at a particular time, I decided to grab the proverbial golden calf by the horns and propose a transaction involving gold (and silver) because at the time (and consistently to this very day) most would prefer that and it so happens that basing a transaction on gold solves a lot of problems for us in terms of exchange.    

Now even Riegel didn't state it as bluntly as I do, but the fact of the matter is that if anybody deserves the right to issue money by fiat it is certainly those who must work for it rather than any government or any bank, sorry. If you disagree by now, that's honestly a pathetic position. Where's your self respect that you'd be talked out of something this important by some “authorities' that use nothing but FORCE to prove they have the power to do it, etc.?  It's because the money we all use is THEIRS not yours or mine and THEY call the shots, Dennis.  That will NOT change until we are able to walk out on them.  We can't do that without our own money, it's just that simple.

We have the fiat to issue money by natural right and it is forbidden to anyone else!  We are the actors (to use an idea from the “Austrians”) in the economy without whom nothing would move at all. The “brainy” or “exceptional” people who assume they deserve more (from Ayn Rand's John Galt speech), would get absolutely nowhere without all those who may be stupider than they are, but who may have managed to acquire a useful skill. When it comes to things, concepts, ideas, information, etc. I'm the kind of person Dennis, who doesn't hold onto old junk once I'm convinced it has outlived its usefulness, and that particularly includes ideas about money, business or economics. About all I require is strong evidence and I believe that each day that presents itself offers an opportunity to further the quest for more knowledge and truth.

People are not in that category Dennis because we are and should have always been the source of all wealth. If you say, along with the elites, that some ounce of gold is worth more than a human being, then you have some idea the depth of my feelings against ANY of THEIR gold based monetary ideas. Besides which, and history actually proves the “Austrians” not only wrong but LIARS, their gold backed systems actually do not work for most of the people at all. But that was their intention to begin with. If you were fooled, that was just too damn bad. They'll be more than happy to take more advantage of you.

Dennis refers to where I said,

The debt he's talking about is the Federal “public” debt.  

Not solely. In fact most debt is private debt by far which is what citizens and firms owe banks when they take out loans. But these loan are also created ex nihilo when parties sign promissory notes. They are not loans from previously saved capital but spring into existence when bankers, reviewing deposits on hand in the institution, create loans equal to 90% of those deposits, which become checkable balances in accounts created for the borrower. You notice you cannot get your 'loans' in the form of cash!  

No, that's right, but who gets paid in gold and silver, Dennis? Nobody has since maybe the end of the 18th century. Want to go back there? No, but the emphasized is all about fractional reserve lending. What do we say? Who ever heard of lending somebody something you create out of nothing just because you're “special?” That's what we have and yes, Dennis is correct and the results of it are economic bubble blowing and all bubbles burst. That doesn't mean the debt goes away though. As a result we now have a system with many times the number of dollars created by this “credit” instead of actual “cash.” 

We were precise in our definition of “cash” too, weren't we? We described it as a credit instrument, the means to settle a trade in the standard it represents. Cash is what confers anonymity in transactions. Our solution is the V-Check which conveys the number of Valuns on it between accounts, lasts for 6 months as circulating money and can be either replaced or deposited after expiration because each one will be numbered and the money in the V-Check account will be there until each check is retired. They are only tokens and whether they are of precious metals or paper certainly does not matter. So yes, I'm afraid so, the whole “intrinsic value of money” is another huge SCAM. Look, if you are already dealing in money that you cannot trust and still use it, then why would you require some PHONY trust between you and your money, unless it really isn't your money?

In fact if the “cash” tokens are made of precious metals then the day to day prices for these affect what you can buy with them. THAT's why Bernanke didn't regard them as money. They were used as money, they were FORCED on ancient civilizations, wars were fought for them and people died mining them as slaves. Are you getting me yet, Dennis? We can do much better. We will never allow fractional reserve lending; you cannot lend what you do not have under our proposal. That has always been and still remains a fraud that we all live with, until THEIR system passes into perdition. What then? The Titanic is going down. We are going to need lifeboats and we do not want nor should we expect anything good from THEM. Understood? 

[9/27/16: Q: We are getting nowhere fast. So, in the interests of clarity and to prevent misinterpretation of statements made on this complex topic, I will limit myself to simple questions: How are valuns created? Today I treated one patient and taught a number of students mathematics. How do I get paid in valuns? Where do the valuns come from?

A: Valuns come into existence, are created, issued in 3 ways:

1. A members issue them under labour contracts – you work for them on a schedule. This is by far how most Valuns, better than 90%, will come into existence. The labour contract is between you and either your employer (if a B member) or the exchange (representing the entire local community). The entire number of Valuns enumerated on each contract is issued to the employer by the employee on the first day of the contract as a loan at no interest. The Valuns are then paid back to the employee on a schedule of pay days, usually coinciding with the regular pay days in THEIR money. You buy your own job and issue your own money, your work backs your money. There will come a time when no one will be able say they have been “bought” by anyone else. Those days will be over and with them, most of what's really wrong in the world. Employees will increasingly choose those who they would like to work for and buy their own jobs with them, if their employers agree. But we have made it possible to get paid in your own money anyway since in some cases your employer would not be a member of any exchange (public employees).

NOTE: We especially want all military and law enforcement on our side. We will allow them to create/issue up to as many Valuns as they are being paid in THEIR money. The limiting factor is income taxes which must always be paid in THEIR money.

2. You buy Valuns into existence by exchange with gold or silver. (If an A member brought in dollars, euros, yen, etc. we'd buy precious metals with them for the amount of Valuns required to make the trade). The precious metals belong to the exchange, but they are used solely to pay taxes. All Valuns issued in this way are obviously backed by the gold (or silver) WE require, not THEM, in trade for a Valun. WE set the rules for this according to our standard, not THEM. This is the gangplank from the Titanic to a lifeboat for those who see where the current system is headed and want out, but are not willing to give up the rest of their lives to retirement, doing nothing, etc.

3. The indigent among us are allowed to issue a limited number of Valuns on a schedule. This includes the aged, infirm, disabled, etc. This is the only “free” money in the system. At first, this is likely to represent more than it ever will in the future. After all, we consider poverty to be a temporary condition easily corrected by more opportunities to earn more money. This money is also issued according to a contract with the community.

The entire system is based on PRIVATE contracts.

If you are offering a service, the first thing to consider is what it costs you in nominal terms based on THEIR money to provide that service and how much extra purchasing power you require to remain profitable. This might even be set higher as a goal. 

Most people know these figures somewhat in their head and can jot down some round figures on a piece of paper or maybe they'd use a bank statement. Basically you make a list of all your monthly expenses. Some of these must be paid in THEIR money. But there are other things on that list that might be paid for in Valuns instead. You'd jot down what these would be alongside the figures in THEIR money.

When considering values in Valuns, one would then use a current value for a Valun ($2.65 on 9/27/16) and get some equivalent figures in Valuns. Then one would figure out how much one would have to ask in Valuns to get paid the same or more than one is paid in THEIR money. Some of us could teach this or that on the side and eventually want nothing but Valuns, but in the meantime we might charge some nominal fee in local currency and the rest in Valuns.

You always want things to start at rough equivalents with THEIR system. We are building almost a duplicate accounting record that will run on its own and grow as matters of natural scales allow. A big limiting factor is income taxes, because every earned Valun (taken as income) represents a taxable income to THEM which ultimately must be paid in THEIR money. This is why it is vitally important to know ahead of time, how to allocate more of THEIR money for taxes until their absurd political policy of taxing labour ceases.

If you work for yourself, you can't give yourself an exorbitant salary in Valuns because no exchange would ever allow a contract with yourself to permit that under the rules. That's like dividing by zero. But if you set up under your local exchange as a B member, then you have a contract with your business, which must stay solvent (maintain a positive balance). Taxes are a limiting factor to all growth because they must be paid first; they have seniority or senior status in all debt. So what you do is consider THEIR money the scarce resource that it is and plan to pay all taxes and everything that must be paid in them before considering what else you need. Some might even open a savings account and just put in there all the money to pay anticipated taxes when they come due.

If you issue Valuns to work at your own business, a contract between an A member (you) and a B member (your business), then the business books still have to balance because your salary is an expense to that business. If you do not at least meet your expenses through income, the sale of your services to other Valun holders, and others, then you go bust. Overdrafts for B member business accounts will not be permitted. If the concern dies, it dies. The Valun exchange is unaffected and goes on.

Most of us who have something to teach might have minimal expenses to cover, so we charge what the market will bear, perhaps less in THEIR money and a few more Valuns besides. For instance, I said among some friends of mine that I would be willing to teach a youngster beginning piano lessons for V5 a half hour. That's about $13 and change. Some might say, I'll take V5 and $1, etc. The $1 would go toward taxes and other bills that must be paid in THEIR money.

If you already have a job, you can always earn extra Valuns as you work. If your employer is a B member of your local exchange, you are buying your job – issuing your Valuns (see all our references to the self financing of employment through contracts here and here) and being paid in your own money. If your employer is not a B member of your local exchange, then you make a contract between yourself and the exchange (your community).

Let's say you're a public school teacher. The school cannot be a member of our exchange as it is a government institution and they are at present forbidden membership. But its employees still need someone to represent their right to issue their own money. As this teacher is paid, they would have also issued into existence their own Valuns which would be paid back to them. Remember we define work as specifically all time apart from the rest of your life to earn barter (in money) for your livelihood.

I intend on describing in sufficient detail more of these contract arrangements that would result in the issuance of Valuns in the up coming series The Road to Prosperity which shall appear here shortly.]

[9/28/16: Referring to,

You notice you cannot get your “loans” in the form of cash!

“Cash” here means some form of banknotes redeemable 100% in the precious metals. I do not advocate using gold or silver coin out of practical considerations but banks must be subject to this check at all times.

I suppose they would be so subject if they were really ours. But they aren't and what they do and have been doing has gone on for so long that attempting any real reform is … categorically impossible – the leopard does not change his spots, etc.

I'd also like to point out AGAIN that reliance on gold and silver indicates very much that none of THEIR money is really yours (including THEIR gold and silver) and so you feel the need to have the precious metals in there as “faith” and “trust” which if it were really yours you wouldn't require.

Again Dennis, just how do you know from day to day if the precious metals were really where they claim they are? You see, their track record isn't very good and they lie without any of the usual restraints and if you catch them, it's a projection; it's always your fault, never theirs.

Also, and this is NOT an insignificant issue, all independent exchanges within the proposed Valun exchange network (VEN) would be using the same ledger, it would just be dealt with locally. So some scoundrel couldn't just go bankrupt somewhere, pick up and start all over again somewhere else without being detected. This whole proposal is PRIVATE Dennis. No special favours for special people either.

Also Dennis, NONE of the businesses lending money in the proposed VEN would EVER be directly associated with a particular local exchange. They might have B member accounts within such an exchange, but their business, and their books are their own to keep and if they go bust, they go bast and that doesn't create a ripple effect throughout the entire system and never imperils the clearing of transactions, which is the principal function of each local exchange and most important, never affects the international standard Value unit standard.

Gold and silver certificates? AGAIN, why repeat something that DIDN'T WORK well for the vast majority of people? Want to go back to silver and gold certificates? Many of them at any one time or another were BOGUS (as you probably already know) and so you expect that some state should hire someone to be on the spot 24/7 guaranteeing that all the precious metals they say they have is there so that all their certificates can be redeemed?

You know what? Seriously. You're dreaming. If you really love gold and silver that much, go out and buy some. I do, from time to time. But I never lose sight of where it came from, some state usually or some private mint and I ultimately know who controls the pricing of it and it aint you or me. The chances that it ever will be you or me are as likely as that a teacup orbits Mars.

I tell people all the time that “gold backed” money and banks failed just the same as “fiat” banks. They still want to hang onto precious metals because they have some value, and also, BECAUSE THEY ACCEPT THE LIES OF THE SNAKES. OK?

How badly do you want it? That's always a question. I've been close enough to the inside of the system to smell the stench of its rot. There is ultimately NO HOPE AT ALL of saving it. There is also no way back to trying something that DIDN'T WORK in the past, especially since the precious metals required aren't really yours as I've said all along.

Frankly if I really need a new machine, I usually don't bother with one that's out of date and your proposal happens to fall into that category. Hope you're happy. You're quite talented I'm sure and would like to survive and do better. Consider yourself among the tens of millions who would like the same things and figure out who you're going to follow to get there. Hint, Jesus got a gold coin from a fish and paid his taxes with it. Render unto Caesar what is Caesar's. See, it isn't yours! Best.]