• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

65 Year Old Video Says Gold Is 'Good Money'

Tyler Durden's picture




 

From spearheads to shells, this Government-issue 1947 "Know Your Money" clip explains that "none of these met all the requirements of good money". From such trying historical experience, Gold and Silver emerged as the most durable, most convenient, and most satisfactory money. Luckily, governments took over the management of good money and saved us all the bother of worrying about credibility...

 

(h/t Nihilarian)

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Mon, 07/23/2012 - 20:08 | 2644152 whoopsing
whoopsing's picture

As long as.........

Mon, 07/23/2012 - 20:23 | 2644185 Xibalba
Xibalba's picture

NIXON BABY!!!!

Mon, 07/23/2012 - 20:59 | 2644268 Pladizow
Pladizow's picture

Before gaining access to ZH, it should be mandatory that all posters read "Money: The Greatset Hoax on Earth" by Merrill Jenkins

Mon, 07/23/2012 - 22:11 | 2644393 0z
0z's picture

On Money,

which I wrote up recently. The word has ben corrupted.

vaevictis.me

Tue, 07/24/2012 - 00:39 | 2644634 engineertheeconomy
engineertheeconomy's picture

Playing with monopoly money is for children

GROW THE FUCK UP AND USE REAL MONEY BITCHZ...

GOLD

SILVER

PALLADIUM

PLATINUM

RHODIUM

Tue, 07/24/2012 - 01:04 | 2644673 Deo vindice
Deo vindice's picture

A government-issued film calling gold 'good money'? Proof that there was government-sponsored terrorism in 1947!!

Tue, 07/24/2012 - 06:42 | 2644879 GetZeeGold
GetZeeGold's picture

 

 

Amazing.....the same 3 silver dimes from the 50s bought a gallon of gas then.

 

....and it still does.

 

I could probably buy a Nobel Prize with them........but WTF would I do with it?

 

Mon, 07/23/2012 - 22:20 | 2644413 DoChenRollingBearing
DoChenRollingBearing's picture

Videos on Freegold?  Yes!

 

http://tinyurl.com/bnxvkln

Mon, 07/23/2012 - 20:30 | 2644205 FEDbuster
FEDbuster's picture

1947 dime = 1.95 2012 FRNs  (Federal Reserve Notes, IOUs, FIAT money, etc...)

1947 quarter = 4.88  2012 FRNs

1947 half dollar = 9.77  2012 FRNs

1 1947 FRN = 1 2012 FRN

Lesson paper IOUs don't appreciate or hold their value.   Silver coins do.  Gold coins do.

 

Mon, 07/23/2012 - 20:52 | 2644253 HoofHearted
HoofHearted's picture

Those lines written out by SGT (as a transcript of what was spoken) should appear on every piece of fiat, on every token we use whether 25 cents or 10 cents or..., and should also be in every textbook. I'd love to see it in Samuelson...

I'll keep collecting my real, pre-1964 coins, even if I have to pay 20x face for them.

Tue, 07/24/2012 - 12:19 | 2645784 DosZap
DosZap's picture

I'll keep collecting my real, pre-1964 coins, even if I have to pay 20x face for them.

That's about where they are now.Esp Halves.

Mon, 07/23/2012 - 21:20 | 2644315 killallthefiat
killallthefiat's picture

Thanks goodness we have huge reserves in gold and silver.  Go back to sleep, sheep.

Mon, 07/23/2012 - 21:32 | 2644336 BandGap
BandGap's picture

Silver, gold, and 500 hits of sildenafil citrate, 50 mg.

All set.

 

Mon, 07/23/2012 - 20:09 | 2644156 ghengis86
ghengis86's picture

Trololololol!

Good thing our toilet paper is backed by all that gold in Fort Knox...er, basement of the NY Fed....er,....Jamie Dimon's cuff link? Fuck, somebody go find Corzine and ask him.

Mon, 07/23/2012 - 22:58 | 2644486 A Nanny Moose
A Nanny Moose's picture

Corzine testified in front of CONgress the he didn't know. What if those who are suppose to know, don't know? Then what?

Mon, 07/23/2012 - 23:14 | 2644511 Andre
Andre's picture

 


In re Yamashita, 327 U.S. 1 (1946)

Nuff said

Tue, 07/24/2012 - 00:44 | 2644643 Muppet of the U...
Muppet of the Universe's picture

Can someone spell this out for me?  Too long, did not read

Mon, 07/23/2012 - 20:09 | 2644158 dark pools of soros
dark pools of soros's picture

we gots lots of salt money these days

Mon, 07/23/2012 - 20:10 | 2644160 RacerX
RacerX's picture

makes me feel like saying: "Golly, gee!"

Mon, 07/23/2012 - 20:15 | 2644167 Conax
Conax's picture

They said their paper money was backed up by huge stockpiles of gold and silver.

How times have changed.

Mon, 07/23/2012 - 21:16 | 2644296 A Lunatic
A Lunatic's picture

Now it's backed by threats, intimidation, force, and theft from those engaged in private enterprise. No storage fees either.

Tue, 07/24/2012 - 03:20 | 2644783 Redhotfill
Redhotfill's picture

How has anything changed?  Those FRN's were backed by nothing neither gold nor silver.  Nothing has changed th Govt still lies and perpetuates the idea that FRN's or even USN's are backed by some metal.  They are backed by FAITH, nothing more and I have no faith in a govt owned by the Rothchilds.

Mon, 07/23/2012 - 20:19 | 2644171 Neethgie
Neethgie's picture

stacking old spearhead's!

How can you guys not think spearhead's are money? they were money for thousands of years?

Mon, 07/23/2012 - 20:42 | 2644215 SqueekyFromm
SqueekyFromm's picture

Hilarious! Maybe we will see some TV commercials about spearheads, ala

Plus, spearheads have never been worth nothing.  And Spear Mint always gets my spearheads to me within 10 days. And don't you just luuuvvvveee the feeeel of spearheads??? 

Tee Hee! Tee Hee!

Squeeky Fromm, Girl Reporter

Mon, 07/23/2012 - 23:26 | 2644531 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

And don't you just luuuvvvveee the feeeel of spearheads???

Squeeky luuuuuves the feel of spearheads so much that he made himself a butt plug out of them.

Tee Hee! Tee Hee!

Your childlike faith in the system is almost quaint.  :)

Lulzers!

Tue, 07/24/2012 - 00:25 | 2644607 SqueekyFromm
SqueekyFromm's picture

I am just poking fun at all those stupid Gold TV commercials where some dweebie looking orthodontist from Cleveland, who hasn't had a date with a woman who isn't knocked out on nitrous since 1998, comes on with a plug for whatever Gold company it is who always gets his Gold to him within 10 days. What he doesn't tell us is that if the gold is late, he has panic attacks and rushes away from his patients in the chair, to hop a flight to wherever he bought it from and is delivered to the dealer in an ambulance drooling and frothing and in a strait jacket.

Squeeky Fromm, Girl Reporter 

Tue, 07/24/2012 - 00:58 | 2644667 vato poco
vato poco's picture

What's this "dweeby orthodeontist" shit? Them boys make some COIN, know what I'm sayin'? Am willing to bet orthodontists have a better hot babe/trophy wife ratio than, say, airline pilots. Own their own business, make better money, not likely to be laid off & replaced by 24-year-olds fresh from flight skuel willing to work for a fifth of the pay.....

Tue, 07/24/2012 - 01:44 | 2644711 SqueekyFromm
SqueekyFromm's picture

They have a dentist or something on one of those commercials. He looks like  some munchkin-like gnome who lives under a rock somewhere with his Gold and only comes out in the sunlight to take delivery of his gold. He is like the poster-child for anal-retentiveness and insecurity, and I have to figure the people who made the commercial picked him out on purpose to give his testimonial. They probably have a good feel for who their gold-buying customer base will relate to.

Squeeky Fromm, Girl Reporter

Tue, 07/24/2012 - 07:51 | 2644990 TWSceptic
TWSceptic's picture

Moron.

Mon, 07/23/2012 - 20:21 | 2644174 sitenine
sitenine's picture

Gold and Silver were the only acceptable choice at the time because nearly everyone involved was smart enough to understand that fiat is too easily manipulated and abused.

Fast forward, and fiat has become money because nearly everyone involved was stupid enough to believe that it wouldn't be manipulated and abused.

We need to educate ourselves, and we need to elect educated leaders.  Only then can we even hope to start over on building our future, because this can never be allowed to happen again.

Mon, 07/23/2012 - 21:16 | 2644305 pods
pods's picture

 I like your optimism, but you will never elect leaders who back a hard currency, ESPECIALLY if you educate them about it.

They LOVE having a currency that is "flexible."

Leaders get first crack at newly created fiat, which is then used to buy the proles, who happily sell themselves into debt slavery.

pods

Mon, 07/23/2012 - 23:02 | 2644489 A Nanny Moose
A Nanny Moose's picture

Flexible currency. The monetizing of votes

Tue, 07/24/2012 - 00:50 | 2644611 passwordis
passwordis's picture

Fiat money is not the problem and never has been. You and Ron Paul are wrong about that. Fiat money is a tool. It is neither good nor bad.  The real problem is who controls the money (gold. silver fiat or marshmallows). Blaming fiat for the world's problems is like blaming guns for what just happened in Colorado.  The economic trigger man behind the fiat is the problem not the piece of paper.

Gold and silver worked well as money for all the reasons we've heard a thousand times but it is by no means the only successful money in history. Colonial script was fiat money and it was incredibly successful, that's why it was sabotaged by the financiers. It is childish and naive to believe that a currency tied to some hard asset is going to keep the bankers in check. The problem isn't a pile of paper no more than the solution is a lump of metal. The problem is that we are forced to use the money of a private bank! 

We are beyond the point of no return. The economy is completely controlled and is being driven into the ground in order to be replaced with a world government and a world currency.  It's almost as if it's been planned this way... and maybe even documented and maybe these secret documents somehow made it into the hands of a publisher in London around 1920.

Tue, 07/24/2012 - 01:01 | 2644661 sitenine
sitenine's picture

"Colonial script was fiat money and it was incredibly successful, that's why it was sabotaged by the financiers."

That's your example of successful fiat?

Wow - Thanks for proving once and for all that there are simply no limits on stupidity when it comes to the true believer.

Tue, 07/24/2012 - 05:31 | 2644842 AldousHuxley
AldousHuxley's picture

rockefellers trying to save themselves by elevating their power to the global level while consolidating nation-states.

 

Tue, 07/24/2012 - 23:46 | 2647941 passwordis
passwordis's picture

   Wow - Thanks for proving once and for all that there are simply no limits on stupidity when it comes to the true believer.

@ sitenine,

    Tell Benjamin Franklin he's stupid. You might also do a little research and learn about the revolutionary war before you post anything else or if you prefer you can continue talking out of your ass.

How America created its own money in 1750 Benjamin Franklin tells what made New England prosperous

  In 1750, this New England was very prosperous. Benjamin Franklin wrote: "There was abundance in the Colonies, and peace reigned on every border. It was difficult, even impossible, to find a happier and more prosperous nation on all the surface of the globe. Comfort prevailed in every home. The people, in general, kept the highest moral standards, and education was widely spread."


People in London asked Franklin how the American Colonies managed to collect enough money to support their poorhouses, and how they could overcome this plague of unemployment and pauperism.
Franklin replied; "We have no poorhouses in the Colonies, and if we had some, there would be no one to put in them, since in the Colonies there is not a single unemployed person, not a beggar nor a tramp." Franklin's acquaintances, in view of all this, asked him how he could explain the remarkable prosperity of the New England Colonies. Franklin told them: "Why, that is simple! In the Colonies, we issue our own paper money. It's called 'Colonial Scrip.'
Wed, 07/25/2012 - 01:25 | 2648059 sitenine
sitenine's picture

"...it was sabotaged by the financiers"

Do I have to spell it out for you?  How quaint that your fiat can be destroyed so easily.  You still don't see the problem?  What do you think is happening today?  Fuck Fiat!  It didn't work then, it has never worked in the history of mankind, and it wont work now.  How the fuck are you going to quote Franklin on fiat when he died 222 years ago, anyway?  Do you really think he knew something about the Fed, fractional reserve banking, 100%+ debt/GDP, CDO, MBS, CDS, rehypothication, or LIBOR rigging (all made possible by your beloved fiat)?  I highly doubt it.  Thanks for the history lesson though.

Try sabotaging gold and silver.  Go ahead.  You can drive the paper price of them both to 0, and my physical will still have value.  That's what you don't get, and that's what's wrong with fiat.  Now run along, I think I hear your mother calling you.

Wed, 07/25/2012 - 11:41 | 2649525 passwordis
passwordis's picture

 Good Lord, what a infantile response.  I will not dissect and respond to each one of your nonsensical misunderstandings but I would like to address the following question in the hope that a light bulb will go off inside the deserted space between your ears.

Do you really think he knew something about the Fed, fractional reserve banking,

 Yes I do and if you weren't an idiot you would never ask such a ridiculous question. OUR central bank is an offshoot of the biggest central bank of all, The bank of England.  Benjamen Franklin understood more about the Fed 220 years ago than you will ever understand. The revolutionary war was fought over it. You fucking nincompoop.

It's become painfully clear that you don't have even a rudimentary understanding of any of this.  Don't try and fake it.

 

 

 

Wed, 07/25/2012 - 12:23 | 2649620 sitenine
sitenine's picture

How cute. You think our our Fed was an offshoot of the BOE, which was government owned and backed its money with gold. Our Fed was privately chartered in 1913, and it prints fiat out of thin air, which is backed by nothing as of 1971. Don't insult me again with your ignorance. I think the up/down votes speak plenty loud enough on who's right and who's an idiot here.

P.S. Junking me might make you feel better, but it won't make you any less an idiot ;)

Wed, 07/25/2012 - 12:35 | 2649761 passwordis
passwordis's picture

 The Bank of England was the first bank to issue fiat way back in the 18th century you Loaf! The problem wasn't fiat, the problem was WHO controls it.. and for the umpteenth time  "WHO" controls the fiat was what the revolutionary war was fought over.  The creation of the very first bank of America (federal reserve) means the bank of England WON the war. 

Yes, I know its all very confusing for you but please try and resist the urge to respond with your birdbrained ramblings.

 You can have the last word, I'm not going to read it but you can have it. I'm done.

Wed, 07/25/2012 - 13:51 | 2649859 sitenine
sitenine's picture

LOL, of course you'll read this! You are a child, and you simply won't be able to help yourself.

You have a basic misunderstanding of the word fiat. Let me see if I can help. fiat: 1. an authoritative decree, sanction, or order. 2. an arbitrary decree or pronouncement, especially by a person or group of persons having absolute authority to enforce it.

Money was NOT fiat in the 18th century, you obstinate fuck. It was backed and exchangeable for gold on demand. FRNs are worthless fiat, exchangeable for nothing, because Nixon basically defaulted on obligations owed to France. Now, when money is nothing more than an arbitrary decree or pronouncement, then the value is nothing more than faith in your masters. Yeah, that pretty much makes you a slave, and if you don't wake up to that fact you will die a slave.

Mon, 07/23/2012 - 20:22 | 2644181 KennyG09
KennyG09's picture

End fractional reserve banking..then we can let people choose their own mediums of exchange (gold/silver just happen to be the historical norm). As long as fractional reserve banking is in place goverment and bankers will always take advantage.

 

I think it's the one thing we can all agree on here at ZH

Just my 2(01K) cents

Mon, 07/23/2012 - 21:18 | 2644310 pods
pods's picture

This is a very salient and often overlooked point.  Even if you have a hard currency reserve, if banks can create credit based on those reserves, you will always end up in the same place.

pods

Wed, 07/25/2012 - 00:12 | 2648011 passwordis
passwordis's picture

This is a very salient and often overlooked point.  Even if you have a hard currency reserve, if banks can create credit based on those reserves, you will always end up in the same place.

 

 I said the EXACT SAME THING a few posts up and received 13 thumbs down and was called stupid. Perhaps I should have dumbed it down a bit so that sitenine and the 12 other dopes who gave me a thumbs down, understood what I was saying.

 The problem has never been fiat and the solution has never been a lump of metal. The solution was simple and the bank of England did not like it one bit hence the reason the revolutionary war was fought. The most successful money in recent history was colonial script and it was paper money not backed by gold or silver. 

 I know this is difficult for many Zerohedgers to come to terms with but Gold/Silver is not going to save us.  It may pay dividends, it may be a prudent investment.. You may get rich by owning silver and gold. We may even go on a type of gold standard but I'd bet all the gold in the world that it won't provide the solution people are looking for.



Tue, 07/24/2012 - 00:40 | 2644637 passwordis
passwordis's picture

"then we can let people choose their own mediums of exchange "

 The people? What people?  Most people would look at you crossed eyed at the phrase "mediums of exchange".

 I'm disappointed to report to you and Ron Paul that the "people" are not sophisticated enough to survive without someone holding their hands and telling them what to do.  The owners of the world have seen to that.

Tue, 07/24/2012 - 01:22 | 2644692 engineertheeconomy
engineertheeconomy's picture

government troll

Wed, 07/25/2012 - 00:16 | 2648038 passwordis
passwordis's picture

government troll

 

Huh? You call me a government troll for pointing out that the vast majority of people are clueless?  You disagree?

Mon, 07/23/2012 - 20:24 | 2644187 whoopsing
whoopsing's picture

Also makes it very convienient to collect taxes

Mon, 07/23/2012 - 22:34 | 2644431 hamstercheese
hamstercheese's picture

Bingo.  You just closed the loop.  It is near impossible to be a productive person and not have to pay taxes.  And you need fiat dollars to pay your taxes.  Thus your wealth has to be in the fiat system, or go through that system to obey the law.

Whatever is 'money' is then whatever you have to denominate your tax payments in.  Gold and silver will never be money in and of themselves unless they are accepted for tax payments.  Maybe some smart local governments will see this and begin accepting real estate taxes in gold and silver in addition to fiat currency.  Just think if that caught on...

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