Jim Mathias wrote: ↑Sun Aug 30, 2020 1:58 am
Say, you're old enough to remember how it was before 1970 when gold coins were contraband. Ever trade in them way back then?
Nope. Back then I was sitting on what was considered a small fortune
in FRN's. I read a book entitled "The War On Gold," by Anthony B. Sutton.
That swayed me from buying a Corvette Sting Ray convertible into South
African Kruggerrands. Of course, by this time, American citizens could
legally own and purchase gold...thanks to President Gerald Ford a few
years earlier, in 1975.
President Jimmy Carter at some time in his Presidency became aware
of the monumental flow of FRN's into foreign gold. The late 1970's were
a period of hyperinflation - running at times more than 10% per annum.
President Ronald Reagan realized the only way he could solve this problem
was using American gold to mint USofA gold and silver coins. He did this
in 1986.
Looking back upon it all, I did fare well - thanks to Anthony B. Sutton.
Think how ridiculous I would appear today driving around in a 40-year-
old Corvette Sting Ray and being seventy-five years old. But then,
the perennial question always arises...what if I had done this, rather
than that. One can really lose some sleep over that...always wondering
if I had done this rather than that.
I suppose in a few years it will not matter one way or another...when
the atoms and molecules of my corporeal form return back to Mother
Earth and the ever-expanding reality of that which is the Universe.