December 9th 2008
ONCE SILVER.........NOW STEEL!
Recently the Royal Canadian Mint took the next step in the continuing debasement of Canada's currency which began in 1922. Since 1998 the majority of our coins have been minted in steel with copper or nickel plating. Who cares? You ask. Well, in the days when was currency was valuable rather than token, the folks who owned it were rich because the hard currency itself in the form of high carat gold or silver held its value in the tangible asset, not in the promise of purchasing power and backed by the government of the day. Today if you have a million dollars in hand it will be worth less tomorrow than today due to inflation. If you keep it under your mattress it will be worthless in a few years. If our money was still valuable, wealth would be in the hands of citizens rather than governments. The mint would be forced to purchase precious metal from the mines and related industries instead of just making base metal tokens. Actual wealth would be placed in the hands of the people instead of virtually worthless paper and steel tokens and it would hold its value!...workers could save money without being forced to invest it. Governments couldn't print money to pay debts because it would have to buy gold and silver to do it.........Accountability would be required.
As demoralizing as this sounds, Canadians still own one of the world's great mints! The Royal Canadian Mint continues to mint legal tender coins in precious metal. In recent years, a full spectrum of coins made of the world's finest gold and silver have been offered with low premiums and entirely tax free! Silver dollars are once again offered in sterling (.925) silver after more than 70 years and the full line of Maple Leaf coins are minted with a finess of .9999.
Most citizens in most parts of the world have very limited access if any, to this form of gold and silver. Here in Canada, at the time of this writing, a one ounce Gold Maple Leaf can be had for less than an ordinary worker's pay for one week. And a one ounce Silver Maple Leaf costs about one hour's pay. In times when workers were paid in gold and silver, an ounce of gold would have fed an entire family for a year and an ounce of silver would have done the same for a month! Silver particularly is incredibly cheap by historical standards.
Julian suggests, next time and every time you get paid in paper or electronically, go to your local coin dealer such as( J & M Coin and Stamp) and exchange some of it for Gold and Silver Maple Leaf Coins with the knowledge that this is REAL Canadian money. Let's put the wealth in the hands of the people who earn it!
copyright 2008
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