Of Interest

[ozjohn]

While surfing YouTube I came across the post titled " Why They Stopped Making Silver Coins in 1964. The Real Reason They Hide". makes interesting viewing on how the US stole the silver from the people as did the UK earlier.

[wlewisiii]

That (and several ones like it) are AI generated slop and have no connection to the reality that silver was too expensive and too useful in industry to make coins of. 

[ozjohn]

On 5/7/2026 at 6:46 PM, wlewisiii said:

That (and several ones like it) are AI generated slop and have no connection to the reality that silver was too expensive and too useful in industry to make coins of. 

There are many people who are of the opinion the fiat currencies US$, GBP etc have been devalued by printing too many paper promises. Probably the cashless society is making things worse as the central bank has even less control of the currency. China and many of the BRICS countries are now hoarding gold to the extent that some are suggesting some sort of return to the gold standard. Even France and Germany are repatriating  their gold reserves from the US to their own countries.

[wlewisiii]

The repatriation has more to do with Trump's sticky fingers than any "gold standard" since there is nowhere near enough gold in the world to run the modern economies. 

 

Xi is far more interested in getting the Yaun turned into the standard currency rather than the dollar, especially for buying oil. 

[ozjohn]

5 hours ago, wlewisiii said:

The repatriation has more to do with Trump's sticky fingers than any "gold standard" since there is nowhere near enough gold in the world to run the modern economies. 

 

Xi is far more interested in getting the Yaun turned into the standard currency rather than the dollar, especially for buying oil. 

Probably a lack of trust in the honesty of the US enhanced by the unpredictable  policies of the Trump administration  coupled with a $30 odd trillion debt that's still increasing. without limit as numbers on a computer. The poo will hit the fan when someone asks for their money as I doubt if this money exists as your comment regarding the amount of gold to support a gold standard suggests.   As for gold it depends what value you put on it. when Nixon broke the link between the $ US and gold was  at $ US 41/oz. in August 1971 now $US 471/oz One advantage of gold is you cannot make any more like paper promises on a computer. Many countries are increasing their gold reserves at the expense of the $ US.  

You are right about China wanting to replace the $ US with the Yuan with the Petrodollar system starting to breakdown along with a policy of isolation are symptoms of the decline of the US as the number one power and will be accelerated when and if China takes over Taiwan and  the US loses control of the Pacific Ocean. Not a situation I relish but the signs are there.

[ozjohn]

17 hours ago, ozjohn said:

Probably a lack of trust in the honesty of the US enhanced by the unpredictable  policies of the Trump administration  coupled with a $30 odd trillion debt that's still increasing. without limit as numbers on a computer. The poo will hit the fan when someone asks for their money as I doubt if this money exists as your comment regarding the amount of gold to support a gold standard suggests.   As for gold it depends what value you put on it. when Nixon broke the link between the $ US and gold was  at $ US 41/oz. in August 1971 now $US 471/oz One advantage of gold is you cannot make any more like paper promises on a computer. Many countries are increasing their gold reserves at the expense of the $ US.  

You are right about China wanting to replace the $ US with the Yuan with the Petrodollar system starting to breakdown along with a policy of isolation are symptoms of the decline of the US as the number one power and will be accelerated when and if China takes over Taiwan and  the US loses control of the Pacific Ocean. Not a situation I relish but the signs are there.

Errata  $US 4713.56

[Peckris 2]

On 5/7/2026 at 6:48 AM, ozjohn said:

While surfing YouTube I came across the post titled " Why They Stopped Making Silver Coins in 1964. The Real Reason They Hide". makes interesting viewing on how the US stole the silver from the people as did the UK earlier.

Not quite sure what you're saying? The Mint stopped using 92.5% silver from 1920 as the price of silver during WW1 had risen to the point where it exceeded the face value of the coins being struck. Yes, it came down again a few years later, but the Mint were never going to reverse their decision. The same thing happened after WW2 when silver was abandoned altogether but this time it never came down to make using it for coins cost-effective.

I'd treat YouTube videos with a large pinch of salt!

[ozjohn]

4 hours ago, Peckris 2 said:

Not quite sure what you're saying? The Mint stopped using 92.5% silver from 1920 as the price of silver during WW1 had risen to the point where it exceeded the face value of the coins being struck. Yes, it came down again a few years later, but the Mint were never going to reverse their decision. The same thing happened after WW2 when silver was abandoned altogether but this time it never came down to make using it for coins cost-effective.

I'd treat YouTube videos with a large pinch of salt!

The YouTube post was about the US not the UK who did not reduce the silver content in 1920 but waited until 1964.