[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

BBC Under Fire for CENSORING Gaza Medic Documentary

US is Agreement Incapable

Blow to Israeli Intelligence. taping Israelis in bathrooms

“They have 500 mRNA shots in the pipeline.”

A US federal judge has DENIED Gavin Newsom's request to stop Trump from using the National Guard in Los Angeles.

Have You Noticed That Seismic Activity Has Been Going Nuts All Over The Globe

The Vax was meant to CAUSE cancer.... listen to this - this clip from RFK Jr's site

CNN Immediately Cuts Off Panelist Who Tells the Truth About the LA Riots

Army Secretary declares war on the military industrial complex

Former Israeli PM Threatens U.S. Will Get 'A Re-Run Of 9-11' If It Doesn't Fight Israel's Wars

7 Examples Of The “Mostly Peaceful” Los Angeles Riots Becoming Even More “Peaceful”

Biden Admin and ActBlue Funded Group Behind Abolish ICE Protests in LA

Murderers, rapists, gang members: ICE busts 12 of LA's 'worst' illegal alien criminals amid riots

LA Mayor Karen Bass Threatens Feds: Withdraw From LA Or the Violence Will Escalate –

Woman points gun at police and finds out

EXCLUSIVE: Rep. Ronny Jackson Accuses Biden Doctor Kevin O’Connor Of Sexual Misconduct

WHAT YOU’RE WITNESSING IN LOS ANGELES ISN’T JUST UNREST—IT’S MORAL COLLAPSE

Anna Paulina Luna Exposes the Guy Behind the Anti-ICE Riots

Mike Huckabee Working To Keep Netanyahu in Power

Israeli Military and Israeli-Backed Gang Shoot Aid Seekers in Gaza, Killing 14

Only 68 Building Permits Issued for Pacific Palisades After Wildfires Destroyed 6800 Structures

Violent Rioters Fire Off Exploding Projectiles at Police Horses Use Fireworks and Explosives to Attack Police

ICE Just Shattered Records With One Massive Operation That Has Democrats Fuming

Nolte: Insurrectionist Democrats Plan Another Summer of Blue City-Riots

Violent riots have now been reported in over 30 American cities. Heres a full list:

Mass shooter opened fire at graduation party was an migrant who was busted in LA ICE raids:

Cash Jordan: ICE Raids Home Depot... as California Collapses

Silver Is Finally Soaring: Here's Why

New 4um Interface Coming Soon

Attack of the Dead-2025.


History
See other History Articles

Title: Why Did Silver Coinage End in the United States?
Source: silvermonthly.com
URL Source: http://www.silvermonthly.com/why-di ... nage-end-in-the-united-states/
Published: Jul 2, 2010
Author: Adam Jefferson Kirby
Post Date: 2011-08-08 13:13:40 by GreyLmist
Keywords: Silver, Coinage Act of 1965, Trade Dollars, U.S. Constitution
Views: 369
Comments: 12

Why Did Silver Coinage End in the United States?

“If we had not done so, we would have risked chronic coin shortages in the very near future.” President Lyndon Johnson commented before Congress just prior to his signing the Coinage Act of 1965, the law which fundamentally changed the composition of America’s coinage. The new Act set the stage for the complete abandonment of the use of silver for U.S. legal tender coins – the custom which Americans had been used to since the original Coinage Act of 1792, signed by President Washington. Thereafter, with the temporary exception of the Kennedy half-dollars, all U.S. legal tender coins would be composed of a mixture of copper and nickel, also known as cupronickel, thus ending a one-hundred and seventy-three year tradition of silver coinage.

Johnson stated:

Our uses of silver are growing as our population and our economy grows. The hard fact is that silver consumption is now more than double new silver production each year. So, in the face of this worldwide shortage of silver, and our rapidly growing need for coins, the only really prudent course was to reduce our dependence upon silver for making our coins. [1]

The comments made by President Johnson before Congress assembled on that historic day implied that the reasoning for making the change was the increasing scarcity of silver as a result of increasing industrial usage of silver and stagnant mining output. This was an incomplete picture. President Johnson did not discuss this matter in terms of the effects of inflation on silver prices. [Cont.]

Click for Full Text!


Poster Comment:

Goes to show what misleading orators like Adam Jefferson Kirby know about Constitutionality with respect to our money and governance: worse than nothing. Silver coins as legal tender here is not merely a "custom" and "tradition". It's a State order of the Constitution.

Have been unable to find the full text of the Unconstitutional Coinage Act of 1965 yet. Apparently, it further impaired -- and without an Amendment -- the Founder's directive to the States that they make noting but gold and silver Coin a Tender in Payment of Debts. My impression of the situation technically is this:

Except for gold coins, their lawful money options were thereby to be reduced and restricted thereafter to foreign silver coins (globalization of our money supplies) and/or only those US coins minted of real silver prior to 1965 which were still around in circulation. Accepting or using mock-silver US coins minted after 1965 would be a lose-lose-lose boondoggle for the States: in violation of the Constitution if they do -- strongarmed by the color of law Federales if they don't -- financially disadvantaged if they refuse to resort to the mockery of the newfangled de-silvered junk when they can't access enough US gold coinage or pre-1965 US silver coins instead and also don't want to participate as globalist importers for foreign money substitutes.

As far as I can determine at this point, that egregious and loony Act might be defunct now as it seems to have only extended through 1996. More background and info on the subject in the next postings.

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: GreyLmist (#0)

Goes to show what misleading orators like Adam Jefferson Kirby know about Constitutionality with respect to our money and governance: worse than nothing. Silver coins as legal tender here is not merely a "custom" and "tradition". It's a State order of the Constitution.

This "coinage act" but more importantly the FEDERAL RESERVE ACT sidesteps/circumvents/usurps the Constitution.

The Constitution is an all or nothing document and hasn't been amended to allow for the debauchery of the currency.

However, the contracts clause within the Constitution allows us to do business outside of the Constitution and by this I mean we're permitted to deal in commercial paper if we so choose. And we have so chosen to our own detriment.

The "medium of exchange" dictates the "choice of law" ... and we have chosen commercial law or law merchant.

“Single acts of tyranny may be ascribed to the accidental opinion of the day, but a series of oppressions begun at a distinguished period, unalterable through every change of ministers, too plainly prove a deliberate, systematic plan of reducing us to slavery”.

Thomas Jefferson

noone222  posted on  2011-08-08   14:22:06 ET  Reply   Trace   Private Reply  


#2. To: noone222 (#1)

Our Revolutionary War against Britain was more heavily financed with paper money than gold and silver, I think -- perhaps might not have been won by America without that option. I was surprised to learn that back then it was the monied elites who favored gold and silver over paper currency, not the less financially fortunate as seems to be more the case nowadays.

More on the paper-as-not-all-bad perspectives here, which I'm not endorsing as reflective of my opinions on the Federal Reserve, etc., as I believe the problem is largely the abdication of Congress to regulate the value of our currency proportionately upward when the prices of gold/silver/copper/nickle rise. I did find the article of interest, though:

Myth #3: The Federal Reserve Act and paper money are unconstitutional. Gold and silver coins are the only constitutional forms of money.

There are more links and info I intend to post here but will have to get back to that later as I can. Hope you'll check back as you can to review it and add your thoughts again on the subject.

-------

"They're on our left, they're on our right, they're in front of us, they're behind us...they can't get away this time." -- Col. Puller, USMC

GreyLmist  posted on  2011-08-08   16:00:52 ET  Reply   Trace   Private Reply  


#3. To: noone222 (#1)

The Constitution is an all or nothing document and hasn't been amended to allow for the debauchery of the currency.

And they have debauched the currency many times over. There is nothing federal about the FED, and there is NO RESERVE.

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2011-08-08   16:51:59 ET  Reply   Trace   Private Reply  


#4. To: GreyLmist (#0)

Have been unable to find the full text of the Unconstitutional Coinage Act of 1965 yet.

Fast forward to Kennedy. From 1960 to 1964, the government suddenly released over 152 million silver dollars, at face value. The government was the last to learn that many of these coins were worth more than face value because they were prized by collectors. Three years later in 1967, silver prices were up enough to make any silver dollar worth over face value in bullion alone. Afraid to let go of any more too cheaply, the government held back 2.8 million of the lower mintage Carson City dollars.

Sen. Key Pittman – Nevada

On the last day of 1970, President Nixon signed into law the Bank Holding Company Act Amendments. The act authorized the General Services Administration to sell the 2.8 million Carson City dollars in any suitable manner, and thereby created the modern market for Carson City silver dollars. The treasury chose to market the CC dollars via several mail bid sales. There were five sales from 1972 to 1974, then two more in 1980. Minimum bid on 1882-CC, 1883-CC, and 1884-CC was $40-$42; minimum bid was $180 for 1880-CC, 1881-CC, and 1885-CC. link

The lack of American concern over the silver content of coins was highlighted when, in 1964 and 1965, part-silver half-dollars, quarters, and dimes were withdrawn and replaced by nickel-clad copper coins. The Bank Holding Company Act Amendments of 1970 brought about the withdrawal of silver from the dollar and its replacement with copper and nickel alloy. This closing episode in the centuries-old drama of government-fiat coins versus "sound money" caused hardly a ripple.link

_____________________________________

So, "Honest Dick Nixon" believed that he could de facto amend Art 1 sec 10 by signing a statutory amendment and get clean away with it, and he was right.

Nixon was a lawyer and therefore had no ethical hurdles to clear, and he knew that the whole fed phunnie munny swindle had been in operation since 1913 and the people had yet to tar or feather a single bankster or politico.

It had already cost the honest, productive American people untold billions (perhaps trillions) in devalued savings.

Summary: It reminds me of Ben Franklin's warning that in this newly formed free republic we'd "get the govt we deserve."

Have you ever dated a girl who begged to be spanked because she got off on it?

Hell, I didn't want to spank the girl. It's not my nature and it doesn't do a thing for me, if you get my meaning. But when her desperate, pathetic pleas reached a shrill pitch and I could no longer ignore them, well....

Now, when the banksters who were just itching to print unmunny, multiply it by ten then loan it out and keep the never audited profits tax-free were faced with the dumbest, most trusting, asleep-at-the-wheel-white people of any industrialized nation on Earth, well, we were just begging for a hosing...and they gave it to us.

HOUNDDAWG  posted on  2011-08-08   18:04:23 ET  Reply   Trace   Private Reply  


#5. To: GreyLmist (#0)

the Founder's directive to the States that they make noting but gold and silver Coin a Tender in Payment of Debts

In Oregon, they were papering the walls with Lincoln's Greenbacks because of the Gold Clause in the Constitution. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2013-02-27   16:29:15 ET  Reply   Trace   Private Reply  


#6. To: noone222 (#1)

This "coinage act" but more importantly the FEDERAL RESERVE ACT sidesteps/circumvents/usurps the Constitution.

When Ron Paul was addressing the crowd in Tampa, the crowd started chanting, "End the FED, End the FED". It was in stark contrast to the Republican Convention. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2013-02-27   16:32:32 ET  Reply   Trace   Private Reply  


#7. To: BTP Holdings (#5)

In Oregon, they were papering the walls with Lincoln's Greenbacks because of the Gold Clause in the Constitution. ;)

They could have made better use of those as community currency. We the People aren't restricted by the Constitution to only gold and silver as money.

-------

"They're on our left, they're on our right, they're in front of us, they're behind us...they can't get away this time." -- Col. Puller, USMC

GreyLmist  posted on  2013-02-27   23:55:03 ET  Reply   Trace   Private Reply  


#8. To: HOUNDDAWG (#4)

The lack of American concern over the silver content of coins was highlighted when, in 1964 and 1965, part-silver half-dollars, quarters, and dimes were withdrawn and replaced by nickel-clad copper coins. The Bank Holding Company Act Amendments of 1970 brought about the withdrawal of silver from the dollar and its replacement with copper and nickel alloy. This closing episode in the centuries-old drama of government-fiat coins versus "sound money" caused hardly a ripple.link

[sic]

It had already cost the honest, productive American people untold billions (perhaps trillions) in devalued savings.

We should probably file a class action lawsuit to recover what was stolen by the thieves who used it to enrich themselves and construct their corporate empires while devaluing the worth of our dollars and coins into the equivalence of Chuckie Cheese tokens.

-------

"They're on our left, they're on our right, they're in front of us, they're behind us...they can't get away this time." -- Col. Puller, USMC

GreyLmist  posted on  2013-02-28   0:09:12 ET  Reply   Trace   Private Reply  


#9. To: GreyLmist (#7)

We the People aren't restricted by the Constitution to only gold and silver as money.

Yep. There was an paper currency, backed by silver and even gold, as I recall. It was called the Liberty Dollar. I knew of a town in Arkansas where there were a couple dozen businesses that used the Liberty Dollar. You could go there and trade your FRNs for them and spend them freely anywhere in that town. It worked beautifully. For some reason, though, the Liberty Dollar was put out of business and still has not been able to be brought back.

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2013-02-28   16:27:14 ET  Reply   Trace   Private Reply  


#10. To: BTP Holdings (#9)

We the People aren't restricted by the Constitution to only gold and silver as money.

Yep. There was an paper currency, backed by silver and even gold, as I recall. It was called the Liberty Dollar. I knew of a town in Arkansas where there were a couple dozen businesses that used the Liberty Dollar. You could go there and trade your FRNs for them and spend them freely anywhere in that town. It worked beautifully. For some reason, though, the Liberty Dollar was put out of business and still has not been able to be brought back.

They should use a different community currency then, not just scrap the effort. Could be issued for volunteer work and contributions, for instance. I don't think the problem is paper money per se. A paper paycheck isn't worthless if not converted to gold or silver. The value of it positively represents the time and productivity invested. It's negative-based fiat funny-money issued from what's essentially a void with unduly usurious extractions attached that's the problem.

Cross-referencing this thread while I'm here:

4um Title: Bank Fraud in 10 minutes

-------

"They're on our left, they're on our right, they're in front of us, they're behind us...they can't get away this time." -- Col. Puller, USMC

GreyLmist  posted on  2013-02-28   17:31:01 ET  Reply   Trace   Private Reply  


#11. To: GreyLmist (#10) (Edited)

They should use a different community currency then,

Ithaca, NY had such a community currency. It worked well also. I think it was called Ithaca Bucks, or something similar.

Checked online. It is called Ithaca Hours, and it is still in use. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2013-03-02   12:50:32 ET  Reply   Trace   Private Reply  


#12. To: HOUNDDAWG (#4)

So, "Honest Dick Nixon" believed that he could de facto amend Art 1 sec 10 by signing a statutory amendment and get clean away with it, and he was right.

Yeah, Nixon did us all with that unconstitutional bill. We should have revolted then and there. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2013-03-02   12:57:26 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]