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The Silver:Gold Ratio, 1687-2011

- Nathan Lewis - New World Economics

Hello.

Nowhere did i say UNIVERSALLY. i was talking about America, as you were doubtlessly aware.

Demonetized means to lose status as legal tender. Silver was legally demonetized back then. It is an indisputable fact. It is useless to belabor indisputable facts. But don't believe me. i could be making it all up. Look it up for yourself. Should you do so, you will find that silver was not only demonetized, but it was also not holding its own against the items you mentioned. Nor could it be that it was paper that was losing value, for America remained on a gold standard until the final link was broken in 1971. Paper was used before that, yes, but until then it always represented a certain amount of gold. And as you well know, 1964 came 7 years before 1971.

In effect, what you are attempting to do is to win your point by altering the meaning of words and misrepresenting the historical record. From reading your previous posts, i would not have thought that you would resort to such obsfucation.

You are perfectly free to believe that as a representation for money, metal beats paper. Make your case without distorting the facts and you may well convince me. But you will never do so by resorting to a revisionist history of the subject.

Commented 4053 days ago

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Beginning of the headline :We have something special this week: the open market value of silver, compared to gold, over a period of over three centuries. The location is London. For a long time, silver and gold were, in a sense, two versions of the same thing, just like one dollar bills and twenty dollar bills are today. Their ratio of value was not perfectly stable, like the 20:1 ratio of $1 bills and $20 bills, but it was quite stable between about 16:1 and 15:1. Both silver and gold ser... Read More

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