Monday, December 8, 2014

COMPETITIVE GOLD AND SILVER

     I should make it clear that I don't think the United States should return to the Gold Standard. I can't really articulate the argument why and it may seem surprising to hear such a thing from a coin collector. However, that doesn't mean I don't think gold coins shouldn't exist as money.

     Why not have competing currencies? Congress could use its authority to coin silver and gold and put them into the marketplace as money alongside the present day fiat coins and currency.

      Just don't give them the same name.

      Leave dollars and cents to the fiat currencies. Leave them as is.

      However, there was another denomination name in the past: the eagle. An "eagle" was another word for "ten dollars". The word never appeared on a coin. I think it was just an official name and nothing more.
      The next step up was the union. A "union" was supposed to be another way of expressing "one hundred dollars". I remember the term coming up when there were talks of making $50 gold coins in response to the massive gold find in California back in 1848. The proposed $50 coin, which was never made, was referred to as a "half union".

      We could run with those terms...

      The silver coins could be referred to as eagles and denominated as such but with no official conversion formula. There could be quarter-eagles, half-eagles, eagles, and double eagles: 1/8, 1/4, 1/2, and 1 ounce of silver respectively.
      The gold coins could be referred to as unions and denominated like the silver eagles with again, no conversion formula for the other currency types.
      Smaller (or larger) versions of both types of coins could also be authorized if needed.
      How many dollars one could get for these coins would vary based on market trends. Likewise, how many silver eagles one could get for a gold union would also vary.

      The point would be to let the currencies comingle and be used by the public as desired. Laws to prevent abuse of the powerless could require employers to pay employees in the currency of their choice without fear of penalty as well as for banks to pay out debts in the currency desired by the account holder. Stores could post prices in three units much like it was during the Civil War when pricing based on paper money, silver, and gold could be found.
      It might be a little confusing at first and it ultimately might mean nothing. Gold and silver money might prove unpopular with the public and limit its use in commerce. Or it could be very popular forcing Congress to make its dollars more attractive to the public.

      I think it would be a fun experiment. I certainly don't see the harm in doing so.

AN EYE FOR AN EYE...I GUESS

     It really bugs me because I wanted to punish my store and union for not even considering that I was only doing what I thought was right (even if they ultimately disagreed). I wanted to punish my store for those suspensions by no longer shopping there.

      I've been going to another supermarket to buy my foodstuffs but damn, that store is just poorly run and making a mockery of my barely-there protest. It's like they don't even believe in stocking. The gaps on the shelves cannot possibly be due to customers since I'm there shortly after opening. Y'know, when the Night Crew has had all night to restock the shelves. It's ridiculous. The store is already smaller than mine so this just only makes it more annoying. It's like this supermarket doesn't even care. The shelves are poorly blocked with items frequently not corresponding to their shelf tags or products mixed within forcing you to not take for granted what you're putting into the cart. They must have one of the highest raincheck numbers in the franchise.

      I'm thinking I'm going to have to break it off. I'll have to rationalize it though. I figure I've lost about $500 to various suspensions over the years so maybe when I've spent $500 at this other store I can call it even.

      Maybe...