Quote from the SC decision:
“The United States maintains a dual system of banking, made up of parallel federal and state banking systems. That dual system allows privately owned banks to choose whether to obtain a charter from the Federal Government or from a state government.”
There has been a recent development regarding state-sponsored banks and their ability to issue gold and silver-backed currencies. Let’s explore this further:
Supreme Court Ruling:
The Supreme Court upheld the state’s right to maintain its own charter and allow state banks to issue gold-backed currency, bypassing the Federal Reserve’s corporate system1.
This ruling was released on May 30, 2024, and marks a significant step toward decentralization in the banking sector.
Dual Banking System:
Each state in the USA operates its own banking system, parallel to the Federal Reserve.
State-sponsored banks now have the option to acquire gold reserves and disband from the Federal Reserve system.
This effectively establishes a dual banking system where state banks can operate independently of the corporate Fed system.
Implications:
States that choose to issue gold and silver-backed currencies can potentially reduce their reliance on the Federal Reserve.
It also opens the door for alternative forms of currency within individual states. Other States:
South Carolina, for example, has taken steps toward recognizing gold and silver as legal tender23.
Louisiana, Utah, and Texas have also passed legislation recognizing gold and silver as legal tender.
This development reflects a growing interest in alternative monetary systems and highlights the ongoing debate over the role of central banks and state autonomy.
Well, I am not that smart about this stuff. I am curious to know what you all think about the future value of an ounce of gold or silver in light of this news?
Gold and silver will be the Dollar again, as in pre-1933. Average price of a home in 1925: $6,500. $20 gold piece = $20. $6,500 / $20 = 325 gold coins (approx. .9675 oz. gold per coin). ___ 1 silver back then (Morgan silver dollar = .7734 oz. silver per coin). 6,500 silver coins for average home. ____ Down payment: 25 gold coins or 500 silver coins.____ Average earnings for a family about $3,000. ____ Median home price today = $420, 800 / 325 gold 1 ounce coins = $1,294 equivalent gold price, yet gold is at $2,300 today. ____ So a house at $420,800 /$2,300 per gold coin = only 182.9 gold coins! So gold has increased its value compared to an average value per house from 1924/25 to 2024. ___ I might have miscalculated, something does not seem right! Or do we expect deflation, housing values to drop 40%?
From your finger tips to God's ....wait he could care less and 90% has happened in the past.
not sure why someone gave you a -1, but I’ll add a +1 because it’s true that prices have dropped in the past, and true that homes have more features, a lot more wiring (“long wire” 10 years ago for putting cable in every room), wifi, extra garages, swimming pools, tennis courts, insulation (China drywall for Florida, that’s a negative though).
Religious folks can be a bit sensitive , but thank you. They think God cares about the value of their house🙄
They say price of gold and silver will be re-evaluated to reflect what the real purchasing power is.. there will be no more inflated money backed by nothing, just printing out of thin air by federal reserve.
Personally, I think silver has the best chance of going vertical . I have been collecting bars, silver rounds, and 925 - sterling since about 2010.
I remember hitting this rabbit hole biggg time during rona' era, when all the gamestop shit went down. Yes, currency no longer being backed by gold with fed going brrrrr, gold is not properly valued. But SILVER is what the rabbit hole was about. Q said gold would be back and fed reserve would die. But silver was the interesting bit. Once everyone woke up on stocks during the GME situation, men much smarter than me realized silver was actually being shorted even more than that. I know threads were posted on here then regarding it. Me finding and linking is mission impossible in my unreliable archives. But whoever is interested in the silver short, search up those keywords here and it has to pop up, great threads were made, I remember for a fact I archived them in my millions of saved folders on this site.
Silver: $420,800 / $26 per silver ounce (just an average for 2024) =16,184 silver coins to buy an average house, compared to only 6,500 silver coins in 1925. Silver could increase in comparison to house prices, or housing could drop in value, deflation, compared to silver. Silver could go to $64.73 per coin to be at the equivalent purchasing power in relation to a home price in 1925, where 6,500 silver hopefully in the future x $64.73 = approx. $420,800.____Other thoughts are that everything is so inflated and silver could become in short supply for industry that silver could go to $600 per ounce and even $1,200 to &1,600 per ounce. ____ (34 minute laid back interview with David Morgan of the Morgan Report: https://www.youtube.com/watch?v=Ajr4E5Q-UYA ____ be careful with the volume though, caution: volume goes from loud to soft between the host on the left (Loud) to quiet (guest David Morgan on the right)
Prices are 98 perce t inflated as the dollar is worth only 2 cents. When a buck is a buck again you will deflate prices ny 98 percent. Gold and silver won't be valued in fiat. So if u use fiat it will be 480k, if you use gold it will be $9600.00 dollars to purchase. If gold is 2400 that's about 8 oz of gold.
Modern Homes larger and have many more whistles & bells , makes accurate calculation sloppy at best. But thank you for the estimates.
Way more than a digital or paper FR Note ( promise)