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'Gold bugs' aren't the great concealers; central banks and financial journalists are

- Chris Powell - GATA

Thanks for your insight on the history of silver coinage!! There are some interesting

inconsistencies in Lyndon Johnson's remarks when signing the 1965 Coinage Act.

He called it "the first fundamental change in our coinage in 173 years". Aparently he forgot about

the elimination and confiscation of US gold coins and other monetary gold by the government in

1933. At that time, LBJ was working as a legislative assistant to a Congressman.

"Our present silver coins won't disappear and they won't even become rarities". Haven't seen any in

circulation lately, although I might well have seen silver dollars being traded for close to $50.00

each in circulating currency around January 1980.

"silver is a scarce material". Has anyone told the silver derivative traders at the Comex about

this? Oh, I forgot. Silver on the Comex is not real silver, is it! The supply of derivatives is

potentially unlimited.

In referring to the sample coin strikes that were made for the new coinage: "So these strikes, as

they are called, are coins that we will never use. On one side is our first First Lady, Martha

Washington. On the other, a replica of Mount Vernon". Now here at least is an idea that has a

kernel of merit! If Treasury Secretary Jacob Lew just HAS to have a woman on US paper currency

(instead of Alexander Hamilton), how about Martha ? After all, who was it that stayed at home

taking care of business while George was out and about. During the Revolution, she followed

Washington to his winter encampments for each of eight years. She helped keep up morale among the

officers (credit Wikipedia). It was the personal wealth she brought to their marriage that gave

George Washington the freedom to save the Country's freedom.
The real question is why make remove Alexander Hamilton? He was after all the first Secretary

of the Treasury, and architect of our first currency. Just one more way for the government to

debase the US dollar?

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Début de l'article :MarketWatch columnist Brett Arends may win this year's award for the most disinformation in financial commentary about gold. His October 9 column, "Here's the Chart Gold Bugs Don't Want You to See" -- http://www.marketwatch.com/story/heres-the-chart-gold-bugs-dont-want-you... -- is misleading from top to bottom. In the first place, while the gold business has its share of dishonorable people, the gold business is small and its dishonorable people are outnumbered a thousand to one by dishonorable... Lire la suite

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