Some folks yearn for a return to a hard money standard. Dick came across an article this week that he wanted to share with us.
Dick Johnson writes:
Occasionally I read economic articles for their infrequent mention of coins. I came across this article for its excellent comments on coins and their composition. The author pleads for a return of gold for a circulating coin composition and gold backing of the paper dollar.
Gosh, one doesn't realize how much purchasing power the dollar has lost in the last century. The author is some kind of candidate (I didn't bother to learn for what). Overlook the politics. but read what he says about the coins. Well said.
Dollars are toxic waste in the literal and fiscal sense. Literally, each dollar bill contains arsenic, cadmium, mercury, thallium, and cyanide and generates dumpster upon dumpster of hazardous waste every day. Fiscally, the dollar has lost 98.3% of its value as of January 1, 2010 since the creation of the central bank known as the Federal Reserve in 1913. (Note 1) Many Americans are unaware that the electrons and scraps of linen we trade around as currency are mere shadows of sound money.
To read the complete article, see:
Chasing Gelten Shadows
THE BOOK BAZARRE
DAVID SKLOW - FINE NUMISMATIC BOOKS
the Q. David Bowers Research Library Sale Part I on February 13, 2010.
U.S. Cents 1798-99 by Clapp
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