This page has been archived and commenting is disabled.
It could never happen here, right? Again...
h/t @Not_Jim_Cramer
- advertisements -
Contact Information:
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Suggested Reading:
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure. Here's our Cookie Policy.
Haven't you heard? This time is different.....
they'll paper over any cracks, i'm sure
it's not politically correct to show people working on money...please put a picture of the Social Security Admin building there instead. fixed.
Dude. It's a cartoon. Those are black people on that Confederate money. Everybody knows that black people .....
I can't. I'm sorry. OMG, He will strike me down.
SAY IT KNUCKLES!
Will only happen if we lose the war.
The war against debt and liabilities is lost sir.
Amen. *bows head*
edit: For all sides.
"You can either trust the faithfulness and good will of govts, or gold".
I have a big pile of confederate money. They are quite valuable in good condition. Even the forgeries.
Reichsmarks.
Is that you, Flounder? I'm really sorry about your brother's Lincoln, but we had a blast with stupid, futile gestures, didn't we?
All The Best,
Bluto
.
Zimbabwe.
Lest they be payin 7.3% pa. So I'd get that back ... 7.3% coupon well I'll be damned .. good old boys be paying at least something for da risk.
Kudos, Eb! One of the best laughs I've had in weeks.
"hang onto that Confederate money boys, the South is gonna rise again"
Thee aouf these for sale on EB&y but no bids http://www.ebay.com/itm/CSA-100-DOLLARS-1862-CONFEDERATE-STATES-OF-AMERICA-RICHMOND-T-41-SN-3954-/221843529044?hash=item33a6e79d54
'Continentals' - the paper currency issued during the American Revolution was eventually redeemed at 1% of face value in the 1790's - benefitting the speculators that bought up these bills for even less from the holders who believed (with reason) that they were worthless. These notes were issued to pay soldiers and pay for supplies. Once again those that SHOULD have been paid got screwed and the specualators made out....
The Constitutional limitations restricting government to coining gold and silver were born out of this experience. The limitation didn't last and look at where we are now..... with trillions in paper circulating now.
It is much deeper than that. The colonies (i.e. original states) all printed their own money while still under English control. In fact, that was one of the original reasons for the war; the King attempted to abolish paper currencies and force the colonies to use gold - and pay taxes in gold - which was very deflationary. I think Franklin actually did fairly well as a printer - some of which was of currency - and learned a great deal about its workings from these experiences. It is this much longer experience with paper money that led the colonies to declare only gold, silver, and copper - to prevent the cornering of one metal - as the only constitutional money.
And it was Hamilton in the Treasury who over printed the continentals to pay the soldiers.
At least, that is what I remember reading on the subject.
Regards,
Cooter
Pul-eeze! Other than for a dictator or two such as Abraham Lincoln, presidents are still bound by the Constitution to the coining of money. None of those pieces of paper are issued by the government. They're issued by the private bank called the Federal Reserve. The US government borrows those pieces of paper from the private bank. No government-issued paper money here!
Opening bid $62 ha ha ha, the original owner would have been thrilled to get 62% of his money back.
Heard that in a song somewhere.
Regards,
Cooter
I saw the Never Forget: "Worthless" - Happens and the Jim Cramer tag under the title.
I thought the missive was going to be about Jim Cramer.
Read the fine print.
"Payable with interest at 2 cents per day", nice return.
Cramer, negative return.
I owned one of those about 40 years ago. You have to look at the back of the bill. Mine was stamped by the bank in alabama in july of 1864. It was a debt-based currency, but convertible to gold, silver (money) any time the bearer wanted to redeem it.
So redeem it, 2 cents per day since the 1860's, with compound interest, is an impressive amount of gold.
Re: "You have to look at the back of the bill. Mine was stamped by the bank in alabama in july of 1864. It was a debt-based currency, but convertible to gold, silver (money) any time the bearer wanted to redeem it."
That's funny! The stamping by banks on "the back of the bill" only indicate when the last time whereby the "INTEREST AT TWO CENTS PER DAY" was paid.
The front of those Notes clearly expressed under where the particular Note's Number are handwritten on the left and right hand sides of the Front of Note that such were not convertible/redeemable until:
"Six Months after the Ratification of a Treaty of Peace between..."
(continued on the right hand side)
"...The Confederate States & The United States of America"
And the "bearers" of same bore the brunt of that unfufilled promise.
Honest GOD-fearing people thus tend to prefer that "Honest Weights & Measures" type of Hard Money of Gold & Silver Coin that GOD commands and the U.S. Constitution demands, since that is the only way that "Liberty" is maintained and preserved, and one would suspect that intelligent people might grasp "IN GOD WE TRUST" because GOD KNOWS what HE is talking about!
It is the common fate of the indolent to see their rights become a
prey to the active. The condition upon which God hath given liberty
to man is eternal vigilance; which condition if he break, servitude
is at once the consequence of his crime and the punishment of his
guilt. John Philpot Curran (1750-1817)
"Paper is poverty,...it is only the ghost of money, and not money itself" President Thomas Jefferson, Letter to Edward Carrington 1788
"History shows that once an enormous debt has been incurred by a nation, there are only two ways to solve it: one is simply to declare bankruptcy - repudiate the debt. The other is to inflate the currency and thus to destroy the wealth of the ordinary citizen."
Adam Smith
Leviticus 19:36; Deuteronomy 25:15-16
Proverbs 20:10;23
Wisdom is the principal thing; Therefore get wisdom. And in all your
getting, Get understanding. Proverbs 4:7
Because:
“We are all born ignorant, but one must work hard to remain stupid.”
Benjamin Franklin
Cheers,
S. Rex
say it fast 3 times MY DIXIE WRECKED
Are you 11 years old? Or are you now 12 and wearing "big boy" pants?
Do you really think anyone here wants to see your puerile mental masturbation?
Now hang on Tyler. This may well come back into circulation, backed by Texas gold!
That Conferederate $100 bill might not be viable for exchange at the corner store but if it is in the condition that is shown it is definitely worth much more than a contemporary US $100 FRN.
I'd be happy enough with a good reproduction for $5.00 just for kicks and giggles. After all, neither are official currency, and both are made of paper. The real question is: would it be easy to find somebody that would readily exchange $100.00 worth of gold or silver for that bill? After all, liquidity on the spot is key.
When I was a kid a knew a few other kids parents/grandparents/whoever that had some old confederate bills. One had a coffee can full of them in the garage, and another had a bunch in a shoe box. It's popped into my head a few times over the years.... I wonder if those were worth anything on the "antiques road show" circuit.
Back in the 70's they also sold reproductions in the bubble gum machines. for 25 cents you could get about 4 or 5 different ones.
Yes, a $500 Confederate Note is $895 at APMEX. A $50 Confederate Note is $250. They are sold out of the $100 notes at the moment.
http://www.apmex.com/category/64040/1864-confederate-currency
That particular note looks like one of the copies of the 1960's. You could buy a packet of those with other denominations for less than a dollar. A genuine hoer note in excellent condition would fetch more than a hundred dollars retail.
Yes, I had a couple packets of Confederate money back in the '60s..think I bought it at the Dime store...
you got that right....those Conferderate notes are difficult to find in uncirculated condition and you pay a good premium for them too
So its valued for its asthetics/ornamental qualities, and therefore has no concrete value reletive to its denomination.
(If the 1000 note was in higher supply than the 10 note, than the 10 note would be worth more due to scarcity - hence showing that the denominated value is worthless)
Actually Texas issued its own paper money back in 1839. https://en.wikipedia.org/wiki/Texas_dollar
The dollar is an IOU issued based on a unilever debt issuence.
You get nothing!
https://www.youtube.com/watch?v=M5QGkOGZubQ
What did the report that the us army war colledge say here not to long ago? That the us would break up into several parts.
They must read ZH.We've been saying that for years in the comment section.
I get the dark meat. Er, wait ....
lol. It's nice to see you guys finding "common ground".
Knuks and Winston having a conversation.
I'm grateful that (2) brilliant men have found 'common ground', and I've witnessed it.
You gentlemen have the collective knowledge of Mankind at your fingertips.
Don't let it go to your heads.
If humans in this society are becoming useless pieces of shit do we honestly think our fiat dollars will fair better?
It's not worth zero, in good condition may still be worth $100
Backed by cotton.
Cotton bonds, actually - another debt instrument. And when the
Port of New Orleans was blockaded the bonds became worthless. Let us not forget the South reached out to the Rothchilds first.
I think a silver dollar "certificate" would have sufficed better to make the point but whatever.
Can't tell how much they're selling, but Confederate currency asking price higher than U.S. dollars today. Now, that is a 'commentary' on which currency????? Neither worth the paper they're printed on.........
Here are some ConFed ebay "sold" listigs:
http://www.ebay.com/sch/i.html?_from=R40&_nkw=confederate+currency&_in_k...
Kind of weird, the lower the denomination, the higher the value.
Gold and silver certificates are still lawful US money.
They are not "money". They are still just FRNs. You cannot go to the bank and exchange them for gold/silver. They are "currency" and "legal tender", but definitely NOT "money".
True, they are not redeemable in gold specie, however should the fed go out of business they could be used as lawful money. Same as US currency, pennies, nickels, dimes, quarters. And if I am not mistaken US savings bonds are still lawful US money.
My 1929 $20 bill says "Redeemable in lawful money" on it.
That was back in the day when 'lawful' meant something.
Since when has our war criminal government ever been 'lawful'?
With any luck, one day we shall all laugh at the useless frn and wonder how we once used them.
What's bigger than a roll of stamps .... smaller than a roll of Brawny paper towels .... has more cotton than a roll of Cottonelle bath tissue .... ergonomically a perfect fit for the crevasse wherein lies your ass .... yes, I'm talking about .... the all new Federal Fiat body wipes .... in a new convenient roll of single ply sheets .... wipe your brow, blow your nose and wipe your ass .... with the same sheet !
A remember to do so In that order ONLY
It is too bad that they did not show a Continental Currency note, such as how the phrase "not worth a Continental" came to be.
http://www.history.com/this-day-in-history/congress-issues-continental-c...
What a statement on paper money that appeared in the comics:
http://www.gocomics.com/fminus/2015/08/07
They can just print new more colorful paper to cover up the old paper..... the game can go longr than anyone can predict...
You are very warped; been watching too much porn. You will reap what you have sown and remember, the reaping is always greater than what was sown...ask any farmer.
lunatic, croc said we 'reap what we sow..."
being on the fringe, you must realize
"With any luck, one day we shall all laugh cry at the useless frn..."
WB once showed a note for? hell (had to give it to the Chinese, they burnt them for their dead relatives so they could spend it in hell), ever wonder what we will be using there, laughing or crying?
also wonder who's pic was on that "hell" note, an Emperor (which), and we are fighting to put a female on?
It WILL happen to the USD also,
BUT
not for many many many more years to come.
Those of you who have been expecting immanent demise - ever since the end of Breton Woods !!!! - are going to continue being VERY disappointed - for the rest of your lives.
Sure we are... ROFL!
I think all of the ZH's have days where we feel like it can't fall apart tomorrow and then times where it seems somehow this could drag on for another 5-10 years. Greece is a good example; this has been going on 5-7 years longer than anyone expected.
----------------
I have come to believe , at least for now, that the American middle-class is the greatest threat or barrier to the NWO or One World Economic System (OWES) and is systematically be dismantled. The question is how long will it actually take to fully dismantle it or can it be? If one can narrow that time-frame down, then I believe we will see.
So I guess it was just a little bump in the road back in 07-08 when the entire system was on the brink and the Fed "saved the day" by pumping trillions worth of new "money" into the banks to buy up all the toxic assets. And I'm glad to hear that the trillion dollar deficits to keep the government running were no big deal either. The countless desperate measures like Illinois issuing bonds to met their current pension obligations, are nothing to be concerned with. Relax everyone...the globe is clamoring for US treasuries, deficits don't matter, the job market is robust and escape velocity is right around the corner.
Prober said the dollar will rule for decades, therefore it must be true.
I carry a silver dollar around with me. I picked it up and looked at it today while I was holding a 20 getting ready to pay for something. Funny people value that paper shit.
The Confederate Notes have lost 100% of their value since 1865.
The US Dollar has lost 97% of its value since the creation of the Federal Reserve!
A Confederate $10 note in good condition will get you $11 today - after 150 years.
A US Federal Reserve note depoited in a US bank under the Fed's near ZIRP will be worth $10.15 - after 150 years.
Just checking... OK.... No Confederate Flag on the front of the note....
Thanks ZH.... Now they'll be demanding all existing Confederate money destroyed due to the offensive picture.
Digressing; can someone tell me how all the poor can afford to get tattooed? I really don't get that. Hey honey; a tattoo or diapers? Tattoos; we can rinse and reuse the disposables???
How do poor alcoholics find money for liquor? Same way. Sell shit, borrow, do side work, don't pay the light bill, etc. When someone wants something bad enough they'll always find the money.
Wiemar Germany, history repeating.
Certainly America can have another civil war. It will probably last far longer than four years and kill far more than three-quarters of a million and I don't think it will have a fancy name, next time.
This time it's different. People all over the world have never been stupider and greedier at the same time. The Americans, the Europeans, The Chinese, and The Russians all believe in fraudulent fiat money because they can create it out of thin air.
Perfect example of how stupid people are, are the Russians. The Russians' main source of wealth are their mineral riches. Yet these idiots, I mean the Russians, are essentially giving their oil and gas away to the Americans' bellicose slaves, namely the Europeans in return for their currency, the Euro, which is an abomination even in the fiat world, as it's not even issued by a sovereign entity.
The Russians currently are the stupidest people on earth yet here at Zerohedge you believe that they are great chess players who'll save the world.
My ass.
If that were the case, they'd have long ago stopped taking Euros and Dollars for their oil and thus checking their enemies', the Americans' and the Europeans' power.
You expect morons to do the right thing.
Therefore you yourselves are all morons.
Commie is as commie does
Americans torture, murder and nuke human beings to the tune of millions of them, in the name of freedom and democracy.
Therefore,
Americans are monsters, an abomination detrimental to the survival of the human race.
Americans ought to be quarantined until their ilk expires if the human race is to survive.
Americans are pieces of shit.
100 dollars backed gold worth 10,000 today, Enjoy Central Banking (written in Coca-Cola advertisement style).