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Submitted via IRC for TheMightyBuzzard
A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities.
[...] Senator Bob Hall introduced the bill last month, which, the Tenth Amendment Center explains, "declares specifically that certain gold and silver coins are legal tender, and prohibits any tax, charge, assessment, fee, or penalty on any exchange of Federal Reserve notes (dollars) for gold or silver. The bill authorizes the payment of taxes and fees in gold & silver in certain circumstances. It would also prohibit the seizure of gold or silver by state authorities."
Would this matter in a nation where money is mostly plastic nowadays anyway?
Source: http://thefreethoughtproject.com/texas-bill-gold-silver-money-federal-reserve/
(Score: 3, Insightful) by Bobs on Sunday April 16 2017, @04:20PM (1 child)
"... isn't pure speculation. It is a bet on ...
That is the definition of speculation.
A couple of questions:
Admittedly, even in the current environment, it is theoretically possible for someone to have placed the right bets on Gold, cashed out at the right times and generated a net profit.
But it is much, much easier with the benefit of hindsight to go in and show how someone COULD have made money when buying at this time and selling at that versus knowing in advance when it will turn and repeatedly acting BEFORE it does. Most of the time recently people buy and sell at the wrong times and miss the window to profit on Gold.
And how is this NOT speculation?
Do you have a repeatable algorithm, with a fixed buy-sell-buy-sell pattern, that works when testing back multiple decades and will continue to work going forward over decades?
If not, it is speculation.
If you do, why are you wasting time posting here?
(Score: 0) by Anonymous Coward on Monday April 17 2017, @12:40AM
For every person buying at the wrong time, there is someone selling at the right time.