Hugo Salinas Price at GATA Gold Conference (Part 3/3)
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a true store of wealth
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Excellent point. The problem seems so obvious, however, that I'm sure it must have been noticed and a solution (no doubt staring us in the face--probably in this video) found.
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bjohnt9,
The aritrage you are referring to would be the price difference between the declared price of the monetized coins and the commodity price of silver per ounce... you could not sell the 30 peso coins and buy the coins back @ 28 peso, since the central bank must declare the price slightly above the commodity price(to cover minting costs); so the saver is thus protected against inflation thru the excess printing of paper, which causes the commodity price to rise in the first place.
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Economics is emotional not rational.
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I like this guy, he makes some good points
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This would not work! Consider the following scenario:
I own twenty 1 oz silver coins. They currently are worth 30 pesos each, but the price of silver is only 28 pesos. If I sell my 1 oz silver coins, I would get 600 pesos, but then I could use that money to buy more silver at 28 pesos per coin! I could trade in 20 silver coins, and use the money to buy 21 silver coins. This process could be repeated endlessly!!
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champion!
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Somehow I think the central banks do not want to concede all their power to this plan. THey have a better idea- enslave humanity.
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the world needs more people like this guy.
RightBrainSane 2 years ago 4
Now a year later, the US Mint has reported record Silver Eagle sales for 2009 and for the single month of Jan 2010! Yes, Folks are buying and saving silver, in spite of the continued ignorance of the US Government and banks, continuing instead with their 0% interest rate policies and paper printing! Save yourself and convert before it is too late...
silverseeker123 2 years ago 2