Nevada Coinage Bill
- The Nevada Coinage Bill is being discussed on many lists; just do a
Google search. I have a bit of knowledge on the topic:
OK, this is a rehash of something previously introduced to the Nevada
legislature. As far as I can tell, it seems unchanged from the 1995
attempt. Something similar has been introduced into the Idaho
Without writing a book, I assure you that some fundamental errors exist
within the format of this proposal. These errors are around perceived
value of the federal reserve note and perceived values of one commodity
compared with other commodities.
If you download and read this pdf document delivered to congress in
March of this year (2003) found here: (101 pages; about 700 Kbyte)
and scroll to page 58, you can discover this statement: "In June of
2002, the Secret Service seized an operation in Colombia that was
manufacturing a counterfeit U.S. dollar coin (the Sacagawea 'Golden
Dollar'). The counterfeit coins appeared to be intended for export to
Ecuador's dollarized economy, which had recently begun using the coins.
The seized facility was the first clear example of the intent by
Colombian counterfeiters to target a specific country in Central or
The point I am trying to make here is that whenever perceived values
of one thing greatly exceed perceived value of another thing, a
market will develop spontaneously to exploit the difference. Coinage
stamping equipment and hydraulic equipment capable of being modified
to handle coinage stamping is found all over the world. When silver
bullion can be bought at one price and stamped into a perceived
higher value, then, it will happen.
The "Golden Dollar" mentioned above contains alloy layers on
each side of the core of manganese brass, a golden-colored material
composed of 77% copper, 12% zinc, 7% manganese, and 4% nickel.
Taking account of the copper core, the overall composition of the new
Golden Dollar is 88.5% copper, 6.0% zinc, 3.5 % manganese, and
The entire subject of "value" is complex and also highly imaginary.
The most basic unit of money is the warehouse certificate, where
something in storage is described on a piece of paper. Present the piece
of paper at the prescribed warehouse and collect the described item. The
bearer certificate is a title instrument. Everything ever written about
the time value of money is ass backwards because the responsibility of
the bearer of the warehouse certificate to remit for storage cost and
shelf life of the items in the warehouse has been systemically ignored
in monetary theory. Silvio Gesell explained this error in 1920 and until
Gesell is taken seriously, no improvement will occur.
You can compare the federal reserve paper above on counterfeiting
(especially overseas) with this paper that explains the counterfeit
that is the federal reserve note:
compare the M.A. Nystrom editorial with Dr Popp's writing on what
constitutes "Bona-Fide" money:
<http://www.micro-mania.net/maniac/Popp.pdf> 700 Kb (61 pages with
a number of gif images and a jpeg of the cover on page 61) But Popp
along with Reigel, had never heard of the Gesellian concept
that the money bearer should be held responsible for shelf life and
storage cost. Too bad neither Popp nor Reigel had met Arthur Dahlberg
who was the head engineer on the Tennesee Valley authority and a
contemporary in time. Dahlberg had learned and understood the concept.
He wrote a couple of books on the topic, HOW TO SAVE FREE ENTERPRISE,
and HOW TO REDUCE INTEREST RATES. These are still available from Hope
Publishing House, 696 S Madison Ave, Pasadena California 91106.
phone 800-326-2671 email hopepub(at)sbcglobal.net 19.95 plus 2.00
shipping in the US for the first title and a bit less for the second.
Say "Hi" to Faith Sand for me. ORDER THESE BOOKS IF YOU CAN
POSSIBLY AFFORD THEM.
>From Missoula Montana, Cal Schindel