The Death of Fiat Currency

by midnight Wed Jun 15, 2022 9:20 pm

The Gold standard and Silver standard is back. The Queen of England in council, in person at Windsor Castle has issued by proclamation a new £1000 gold coin, £500 gold coin, £200 gold coin, £100 gold coin and various lower denominations of silver coins. Our new currency by proclamation.

Video: https://rumble.com/v18khe2-the-death-of-fiat-currency-by-proclamation-of-the-queen-of-england..html

Pdf: https://privycouncil.independent.gov.uk/wp-content/uploads/2022/06/2022-06-08-List-of-Business.pdf

by **assassin** Thu Jun 16, 2022 3:04 am

I bet they still wont take them at Tesco when you have filled up with fuel.

by flyingfish Thu Jun 16, 2022 11:43 am

Not sure it's supposed to be actual currency. The "£1,000" coin is being offered for a price of £69K, and would actually be worth £48K just based on the value of the gold.

by **assassin** Fri Jun 24, 2022 3:01 am

Back to basics FF, the price you are asked to pay V the true asset value of the goods V the price you could sell it for.

by **LionsShare** Fri Jun 24, 2022 11:51 am

FF may be its just for elites whilst we have CBDC?

by flyingfish Fri Jun 24, 2022 6:25 pm

I think people fail to understand the point, which is that currency does not work if the intrinsic value of the token (banknote or coin) is greater that it's face value.

Maybe an example would help.

Let's say I sold something to you for £1000 and you paid with one of those gold coins. I could take that to the bank and credit my account with £1000. Or I could melt it down and sell the gold for £48,000. If I received that £48,000 in form of 48 of those gold coins, I could sell each of them for their gold value. By now I've exchanged something worth £1000 and I've received £48,000 x 48 in exchange and taken 49 coins out of circulation. Etc etc. Hopefully everyone can see that's not a stable mechanism.

That's an extreme situation, but in 1992 the bronze 1p and 2p coins were worth around 150% of their face value as raw metal. That's why as well as saving money by replacing them with cheaper coins, the old coins were also taken out of circulation.

by **LionsShare** Fri Jun 24, 2022 6:57 pm

TBH mostly with any sort of 'money' there is always an element of risk - no such thing as a 'free ride' or risk avert.

by **assassin** Sat Jun 25, 2022 4:09 am

Modern bank notes cost 3.6p each to make and range from £5 - £50 yet their asset value is still 3.6p.

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