Coins and tokens-Advice To Americans

I talk about coins and how their very design in America shows that they used to be commodity based and current coins and dollars are just tokens.
I also talk about why you should save coins.

For more exact numbers on what coins are worth in actual materials, visit:
http://www.coinflation.com

Category:

Education

Tags:

• dollar
• inflation
• currency
• coin

[ShwangShwing]

Coins are different sizes so they can be told apart more easily, not because some conspiracy scheme. The banknotes in a lot of countries are also different sizes (I don't know why US dollars are the same size for every denomination) so they can be told apart more easily.

[FearsEdge]

@ShwangShwing

.... that's a factor, but so is the original amount of actual valuable material that they were made out of, you know, in the thousands of years of human history that didn;'t involve centralized banks and fiat currency.

[GabrieLaVedier]

They might have to force me to take it. What the crap does silver matter to me? Money is just an exchange token to me, a representation of value that is understood. Gold is just another worthless tradition like religions and superstitions. Iron is more useful than gold. I take tokens because others do. Hell, most of my "money" is virtual. It exists as bits and bytes in my bank's computer systems. And that is a running tally of my work. So I'm confounded by your... Logic, shall we call it?

[FearsEdge]

What is confounding you? I might be able to explain further.

[GabrieLaVedier]

I think the problem is I want to be a post-monetarist. "Money" itself is essentially virtual. Such a thing does not exist. It's all a pantomime exchange medium that we agree ties back to a tangible thing. A patch of land, a thing, our own work. When I work for two weeks I get a piece of paper with numbers. I take that to a bank, which puts those numbers into a computer, adding it to more numbers. Those numbers can be traded, via a plastic card, for goods and services. Without the use of "money."

[FearsEdge]

That's more like a statement than a question.

I would prefer a commodity standard for our currency, for the reasons I laid out in the video. Money is something that is actually valuable, isn't numbers in a computer doesn't seem like it would work, but hey, I have an open mind. I would entertain the idea, if it were something that was actually in demand, not something forced by a state.

[peope1976]

A large problem is that the value of the silver-coin is dependent on the value of the metal.

And the value of the metal is in a significant part higher that it would be if not used in the monetary system.

There would simply be more gold and silver around for their applications in jewelery, science and whatever you would want to use gold in.

[GreenEyedFilipino]

No problem. I used to be a hard-core communist liberal until I realized that they're a bunch of fucknut retards, who have a great theory as an agenda, but not a good practical one.

[ChewySatisfaction]

Good video. Ive always found money fascinating. Yes it is a token, and that silver is more valuable than the value stamped on it, it has been recalled and replaced with a material that is less than the symbolic value stamped on it. The ultimate lie is the number stamped on the note or the coin.

[ChewySatisfaction]

M8 thats the best statement Ive read in a long time.

[stealthswimmer]

Not necessarily. 3rd parties could verify the weight and fineness of the coins. It could be done by a company that specializes in it or when you go to the store.

As for clipped coins, that's what the ridges on them are for. Today it hardly matters because our coins are worth less and less.

Anyways, private mints have worked before. Look on youtube for "The Private Supply of Money"

[GreenEyedFilipino]

Great video, dude. I'm gonna subscribe to you because you're a cool guy.

We need less government involvement and more personal responsibility.

[GabrieLaVedier]

Ahh, indeed. But it must be understood and agreed upon, and reasonably widespread throughout a predetermined area. There also need to be things in place to ensure that all such tokens are standardized, and reasonably real, that they represent a single value depending on appearance and that the value is fixed. A shaved coin can still look like a normal coin, and spends like one. Multiple currencies would be hazardous at best, within a single territory.

[stealthswimmer]

The confidence that something can easily be exchanged for something you want is itself, a value. Money benefits from a "network effect" in that it becomes more useful as more people use it because it means you are able to trade more things for it.