Comments on: The Means of Surviving Price Inflation http://dailyreckoning.com/the-means-of-surviving-price-inflation/ Economic News, Markets Commentary, Gold, Oil and Investing Strategies. Sun, 27 May 2012 09:55:17 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: e rheault http://dailyreckoning.com/the-means-of-surviving-price-inflation/#comment-5472 e rheault Mon, 13 Apr 2009 21:01:05 +0000 http://dailyreckoning.com/?p=14497#comment-5472 Oh mogambo, mongambo, What to do with a guru who is always in a stew, if only I knew then I would be in a stew too, while dealing with a half baked guru in a stew I threw my lot in the stew too now I am as nutty as you. Oh mogambo, mongambo, What to do with a guru who is always in a stew, if only I knew then I would be in a stew too, while dealing with a half baked guru in a stew I threw my lot in the stew too now I am as nutty as you.

]]> By: Scott http://dailyreckoning.com/the-means-of-surviving-price-inflation/#comment-5387 Scott Mon, 13 Apr 2009 03:49:48 +0000 http://dailyreckoning.com/?p=14497#comment-5387 How do I become a JMR? I have always wanted to send you an email Richard, from time-to-time, but have never actually figured out how. Anyway, this probably meens I am a moron - have followed your column for years, and have actually made money from your advice, as well as from the advice from Butler, Boner et al. Thanks for all you do...Scott How do I become a JMR? I have always wanted to send you an email Richard, from time-to-time, but have never actually figured out how. Anyway, this probably meens I am a moron – have followed your column for years, and have actually made money from your advice, as well as from the advice from Butler, Boner et al. Thanks for all you do…Scott

]]> By: Lara Braveheart http://dailyreckoning.com/the-means-of-surviving-price-inflation/#comment-5263 Lara Braveheart Sat, 11 Apr 2009 19:58:49 +0000 http://dailyreckoning.com/?p=14497#comment-5263 Oh Mogambo, Thank you! You cheer me up when i am depressed, or mad. Thanks Oh Mogambo,

Thank you! You cheer me up when i am depressed, or mad. Thanks

]]> By: Junior Mogambo ranger #777 http://dailyreckoning.com/the-means-of-surviving-price-inflation/#comment-5168 Junior Mogambo ranger #777 Fri, 10 Apr 2009 22:55:45 +0000 http://dailyreckoning.com/?p=14497#comment-5168 Some information to add to The Mogambo Book of wisdom- Half forgotten monetary history from half forgotten authors whose wisdom has been, well, half forgotten. ............ After the constitution was ratified... States, under the Constitution, no longer could issue bills of credit (Fiat money like the Continental). But states could charter banks and banks could issue notes. Twenty eight banks existed in 1800 and by 1820 we have (sic there were) 307. ...Paper money was issued by municipalities, by bridge turnpike companies, and by other enterprises. These paper monies were called “scrip” or “shinplasters“. Paper money inflated prices and the inevitable collapse came in 1819 with the ensuing depression. .................. This information came from page 20 from the book titled Coin Collectors’ Guide (Old Coins for Profit) By Deane Sears and Martin Rywell. Pioneer Press ************************************ And we get this... A History of Money from Ancient Times to the Present Day by Glyn Davies, rev. ed. Cardiff: University of Wales Press, 1996. 716p. ISBN 0 7083 1351 5. 1809-1831 Ohio State government issues paper warrants as currency Warrants for 5, 10 and 20 dollars are used as currency in Ohio because of the shortage of coins. ! 1837 US States acquire legal power to issue paper money. This reverses attempts to uphold the Constitutional denial of the power of the states to emit bills. ! 1837 US banking crisis The uncontrolled, chaotic expansion of banking in the US is slowed, then partly reversed by a financial crisis in which every bank is forced to suspend specie payment of notes. Through it all, gold and silver coins kept their owners from going broke, unlike paper money did or does. Some information to add to The Mogambo Book of wisdom-

Half forgotten monetary history
from half forgotten authors whose wisdom has been, well, half forgotten.

…………
After the constitution was ratified…
States, under the Constitution, no longer could issue bills of credit (Fiat money like the Continental).
But states could charter banks
and banks could issue notes.
Twenty eight banks existed in 1800 and by 1820 we have (sic there were) 307.

…Paper money was issued by municipalities, by bridge turnpike companies, and by other enterprises. These paper monies were called “scrip” or “shinplasters“. Paper money inflated prices and the inevitable collapse came in 1819 with the ensuing depression.

………………
This information came from page 20 from the book titled
Coin Collectors’ Guide
(Old Coins for Profit)
By Deane Sears and Martin Rywell.
Pioneer Press

************************************
And we get this…

A History of Money from Ancient Times to the Present Day
by Glyn Davies, rev. ed. Cardiff: University of Wales Press,
1996. 716p. ISBN 0 7083 1351 5.

1809-1831 Ohio State government issues paper warrants as currency
Warrants for 5, 10 and 20 dollars are used as currency in Ohio because of the shortage of coins.

! 1837 US States acquire legal power to issue paper money. This reverses attempts to uphold the Constitutional denial of the power of the states to emit bills. !

1837 US banking crisis

The uncontrolled, chaotic expansion of banking in the US is slowed, then partly reversed by a financial crisis in which every bank
is forced to suspend specie payment of notes.

Through it all, gold and silver coins kept their owners from going broke, unlike paper money did or does.

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