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	<title>Comments on: Restore full faith and value of money</title>
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	<link>http://blogs.roanoke.com/roundtable/2013/02/restore-full-faith-and-value-of-money/</link>
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		<title>By: 89Hoo</title>
		<link>http://blogs.roanoke.com/roundtable/2013/02/restore-full-faith-and-value-of-money/#comment-161601</link>
		<dc:creator>89Hoo</dc:creator>
		<pubDate>Tue, 12 Feb 2013 19:57:03 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.roanoke.com/roundtable/?p=37188#comment-161601</guid>
		<description><![CDATA[Well, first, that wasn&#039;t what I offered (you&#039;ve attempted to set up a strawman, but that&#039;s okay), and a gold standard is not what Abraham proposed. In fact, he didn&#039;t propose a currency that was backed by anything of intrinsic value at all (he made mention of metallic-based currency, but was not specific) which is the reason I oppose the measure on practical grounds.

With regards to what I promised, remember the US was on a pure gold standard until 1913 (look at the growth in the 1800s and early 1900s), and a modified gold standard until 1971 (look at the inflation before and since 1971).

Anyway, for a good primer on sound money, here is a book (pdf) by Joseph Salerno, who teaches at Pace University.

http://mises.org/books/sound_money_salerno.pdf 

Hope you enjoy it.

You also might want to explore the Ludwig von Mises Institute at www.mises.org for more resources.

Finally, as a gift to you, in spite of your attempt at setting up a strawman, Utah has already passed legislation that declared gold and silver(in 2011) to be legal tender, and others are considering it:

http://money.cnn.com/2012/02/03/pf/states_currencies/index.htm

&lt;i&gt;&quot;...lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option.

...

The state gold rush: Utah became the first state to introduce its own alternative currency when Governor Gary Herbert signed a bill into law last March that recognized gold and silver coins issued by the U.S. Mint as an acceptable form of payment. Under the law, the coins -- which include American Gold and Silver Eagles -- are treated the same as U.S. dollars for tax purposes, eliminating capital gains taxes.

Since the face value of some U.S.-minted gold and silver coins -- like the one-ounce, $50 American Gold Eagle coin -- is so much less than the metal value (one ounce of gold is now worth more than $1,700), the new law allows the coins to be exchanged at their market value, based on weight and fineness.&quot;&lt;/i&gt;]]></description>
		<content:encoded><![CDATA[<p>Well, first, that wasn&#8217;t what I offered (you&#8217;ve attempted to set up a strawman, but that&#8217;s okay), and a gold standard is not what Abraham proposed. In fact, he didn&#8217;t propose a currency that was backed by anything of intrinsic value at all (he made mention of metallic-based currency, but was not specific) which is the reason I oppose the measure on practical grounds.</p>
<p>With regards to what I promised, remember the US was on a pure gold standard until 1913 (look at the growth in the 1800s and early 1900s), and a modified gold standard until 1971 (look at the inflation before and since 1971).</p>
<p>Anyway, for a good primer on sound money, here is a book (pdf) by Joseph Salerno, who teaches at Pace University.</p>
<p><a href="http://mises.org/books/sound_money_salerno.pdf" rel="nofollow">http://mises.org/books/sound_money_salerno.pdf</a> </p>
<p>Hope you enjoy it.</p>
<p>You also might want to explore the Ludwig von Mises Institute at <a href="http://www.mises.org" rel="nofollow">http://www.mises.org</a> for more resources.</p>
<p>Finally, as a gift to you, in spite of your attempt at setting up a strawman, Utah has already passed legislation that declared gold and silver(in 2011) to be legal tender, and others are considering it:</p>
<p><a href="http://money.cnn.com/2012/02/03/pf/states_currencies/index.htm" rel="nofollow">http://money.cnn.com/2012/02/03/pf/states_currencies/index.htm</a></p>
<p><i>&#8220;&#8230;lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option.</p>
<p>&#8230;</p>
<p>The state gold rush: Utah became the first state to introduce its own alternative currency when Governor Gary Herbert signed a bill into law last March that recognized gold and silver coins issued by the U.S. Mint as an acceptable form of payment. Under the law, the coins &#8212; which include American Gold and Silver Eagles &#8212; are treated the same as U.S. dollars for tax purposes, eliminating capital gains taxes.</p>
<p>Since the face value of some U.S.-minted gold and silver coins &#8212; like the one-ounce, $50 American Gold Eagle coin &#8212; is so much less than the metal value (one ounce of gold is now worth more than $1,700), the new law allows the coins to be exchanged at their market value, based on weight and fineness.&#8221;</i></p>
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		<title>By: Name Withheld</title>
		<link>http://blogs.roanoke.com/roundtable/2013/02/restore-full-faith-and-value-of-money/#comment-161589</link>
		<dc:creator>Name Withheld</dc:creator>
		<pubDate>Tue, 12 Feb 2013 18:35:18 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.roanoke.com/roundtable/?p=37188#comment-161589</guid>
		<description><![CDATA[Yes please do provide me a link for information on a state that has set up its own gold-standard currency in modern times.  I&#039;d like to read that history.]]></description>
		<content:encoded><![CDATA[<p>Yes please do provide me a link for information on a state that has set up its own gold-standard currency in modern times.  I&#8217;d like to read that history.</p>
]]></content:encoded>
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		<title>By: 89Hoo</title>
		<link>http://blogs.roanoke.com/roundtable/2013/02/restore-full-faith-and-value-of-money/#comment-161535</link>
		<dc:creator>89Hoo</dc:creator>
		<pubDate>Tue, 12 Feb 2013 13:21:24 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.roanoke.com/roundtable/?p=37188#comment-161535</guid>
		<description><![CDATA[If you are truly interested in sound money, NW, and its history, I can provide some links. Let me know; if you are not, please don&#039;t waste time posting on links that lose you after the first paragraph.

(and for the record, I do not support Abraham&#039;s plan, but on practical grounds, not philosophical)]]></description>
		<content:encoded><![CDATA[<p>If you are truly interested in sound money, NW, and its history, I can provide some links. Let me know; if you are not, please don&#8217;t waste time posting on links that lose you after the first paragraph.</p>
<p>(and for the record, I do not support Abraham&#8217;s plan, but on practical grounds, not philosophical)</p>
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		<title>By: Name Withheld</title>
		<link>http://blogs.roanoke.com/roundtable/2013/02/restore-full-faith-and-value-of-money/#comment-161529</link>
		<dc:creator>Name Withheld</dc:creator>
		<pubDate>Tue, 12 Feb 2013 11:53:20 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.roanoke.com/roundtable/?p=37188#comment-161529</guid>
		<description><![CDATA[Maybe we &lt;i&gt;would&lt;/i&gt; know had the essay explained it.  Or maybe I just lost interest after the first paragraph of nonsense.]]></description>
		<content:encoded><![CDATA[<p>Maybe we <i>would</i> know had the essay explained it.  Or maybe I just lost interest after the first paragraph of nonsense.</p>
]]></content:encoded>
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		<title>By: 89Hoo</title>
		<link>http://blogs.roanoke.com/roundtable/2013/02/restore-full-faith-and-value-of-money/#comment-161473</link>
		<dc:creator>89Hoo</dc:creator>
		<pubDate>Mon, 11 Feb 2013 22:01:46 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.roanoke.com/roundtable/?p=37188#comment-161473</guid>
		<description><![CDATA[3 - so you don&#039;t know either, huh?]]></description>
		<content:encoded><![CDATA[<p>3 &#8211; so you don&#8217;t know either, huh?</p>
]]></content:encoded>
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		<title>By: Name Withheld</title>
		<link>http://blogs.roanoke.com/roundtable/2013/02/restore-full-faith-and-value-of-money/#comment-161464</link>
		<dc:creator>Name Withheld</dc:creator>
		<pubDate>Mon, 11 Feb 2013 21:41:25 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.roanoke.com/roundtable/?p=37188#comment-161464</guid>
		<description><![CDATA[If there is an electric field pulse that wipes out all our computers and electrical power generation equipment, it&#039;s be good to know that we can still head over to Costco with a sack full of gold-backed Commonwealth of Virginia Shekels and buy Central American vegetables and Korean TVs.  

If you&#039;re really afraid of the thunderbolt from Zeus, what you need is bottled water, an off-grid means of boiling water, and a month&#039;s supply of canned and dry food.  You can live a long time on beans, rice, powdered milk, dried fruit, and Flintstones vitamins.]]></description>
		<content:encoded><![CDATA[<p>If there is an electric field pulse that wipes out all our computers and electrical power generation equipment, it&#8217;s be good to know that we can still head over to Costco with a sack full of gold-backed Commonwealth of Virginia Shekels and buy Central American vegetables and Korean TVs.  </p>
<p>If you&#8217;re really afraid of the thunderbolt from Zeus, what you need is bottled water, an off-grid means of boiling water, and a month&#8217;s supply of canned and dry food.  You can live a long time on beans, rice, powdered milk, dried fruit, and Flintstones vitamins.</p>
]]></content:encoded>
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		<title>By: 89Hoo</title>
		<link>http://blogs.roanoke.com/roundtable/2013/02/restore-full-faith-and-value-of-money/#comment-161417</link>
		<dc:creator>89Hoo</dc:creator>
		<pubDate>Mon, 11 Feb 2013 16:14:31 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.roanoke.com/roundtable/?p=37188#comment-161417</guid>
		<description><![CDATA[1 - why not?]]></description>
		<content:encoded><![CDATA[<p>1 &#8211; why not?</p>
]]></content:encoded>
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		<title>By: Sandi Saunders</title>
		<link>http://blogs.roanoke.com/roundtable/2013/02/restore-full-faith-and-value-of-money/#comment-161413</link>
		<dc:creator>Sandi Saunders</dc:creator>
		<pubDate>Mon, 11 Feb 2013 15:30:30 +0000</pubDate>
		<guid isPermaLink="false">http://blogs.roanoke.com/roundtable/?p=37188#comment-161413</guid>
		<description><![CDATA[&quot;&lt;em&gt;It&#039;s a plan worthy of real consideration.&lt;/em&gt;&quot;  No it isn&#039;t, it isn&#039;t even a plan worthy of the space it occupied in the newspaper.]]></description>
		<content:encoded><![CDATA[<p>&#8220;<em>It&#8217;s a plan worthy of real consideration.</em>&#8221;  No it isn&#8217;t, it isn&#8217;t even a plan worthy of the space it occupied in the newspaper.</p>
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