That of course assumes the silver was held by anyone but an honest individual. The government has made no claim whatsoever, and they surely would have if they, that he did anything but make coins and notes for use as currency. Of course the tied mail fraud to the charge only because he used the mail system when transporting and or communicating to the people he was transferring those notes and coins to.CaptainKickback wrote:Let me use simple words. If the Libby certificates are backed by precious metals, which are held by a private citizen, of a larcenous nature, there is the decent potential for that person to abscond with the precious metals and leave the holders of the Libby certificates with a new source of toilet paper.
No it wouldn't....that assumes savvy businessmen would not drop the dollar as the standard. It's likely that a worldwide recession will take place prior to the final blow to drop the U.S. dollar as the standard though. It's very likely they will in the near future unless the Fed figures out how to get out of the serious problem they're in. If they raise interest rates to deflate the currency the facade of a great economy will be stripped away and the dollar loses value. If they continue to keep rates low the currency continues to inflate making the dollar continue to lose value.Finally, if the dollar collapses, it will in turn drag down the Euro, the pound, the yuan and the yen. I mean total world wide economic meltdown.
Its nonsense that a devalued currency is good because it will prompt investment in U.S. manufacturing thus boost the economy. All of those corporations have already made huge investments to move out of the U.S. they're not going to come back to high taxes and regulation. Taxes will have to dramatically increase to compensate for the falling dollar and extreme governmental mismanagement of entitlement programs and they know it.
They don't directly control the value of the dollar the market does. The market is showing its distaste for the bloated over printed dollar.Here's a little bit of information for you. Governments tend to act in their own interests and the collapse of the US dollar would rudely and most negatively affect the interests of the EU, England, PRC, Japan. Thus it would be in their own best interest to prop up the dollar, or let it fall slowly and carefully, but not too far, lest really cheap US goods flood the world markets.
We'll see.....and I won't be disappointed, only people like you get off watching people suffer who you don't agree with. With that I have no doubt people like you will ALWAYS find some excuse why you and the government were not wrong if it does happen.It is likely the dollar will slide a bit further when compared to other currencies, but this is not necessarily a bad thing. It makes our goods cheaper abroad and it makes it far more affordable for those abroad to visit here, all of which help the balance of trade, which will eventually stabilize or strengthen the dollar. If you are expecting a replay of the Great Depression, you will be sorely disappointed.
Even a well respected businessman can wear out his reputation by acting irresponsibly. He can get loans and credit right up to the point that its obvious he's on a mission to self destruct. The U.S. government is that once respected businessman.
btw, I don't state this as fact I state it as a personal opinion. However, I did say several years ago the dollar would soon start to dramatically fall....maybe it was just a lucky guess, but its still just common sense to me.