Would you accept silver and gold coin as money if the private Federal Reserve wouldn't put you in prison?

inna heartbeat.

It wouldn't stop me now. come on by, we'll work something out.

For the following reasons, “Austerity versus Debt” is a false dilemma. There IS another way.

Our nation’s money supply (M2), a.k.a. “consumer demand” is now about $10T. Our GDP is about $16T and our M2/GDP ratio is now about 62%. In the relative prosperity of 2007, our M2/GDP ratio was twice that level. The ratios of Canada, Switzerland, and China are now twice our M2/GDP ratio. And Hongkong’s ratio is twice their ratios. M2 is the key to prosperity!

So, how can M2 be doubled or quadrupled? Money enters our economy through four doors:

(1) The Fed’s purchase of mortgaged-backed securities (MBS) on the open market will increase M2, but less than 1% annually. The Fed can also buy securities from banks to increase their reserves and ease borrowing (Quantitative Easing) but bank reserves are not part of M2.

(2) Bank loan growth now increases our M2 less than 5% annually because investors see too few opportunities. Banks cannot supply much more M2 until our economy gets much more M2!

(3) A foreign trade surplus would increase M2 but our trade deficit is now draining more than 5% of M2 annually, canceling the effect of the preceding items.

(4) Federal deficit spending (M2!) is now saving the economy from a serious depression but further spending is restrained by fear of excessive debt interest expense. By law, the Fed must sell bonds on the open market to finance a deficit. So, M2 is stuck below half of its proper level!

But if that law were overturned or suspended, as it was during World War II, the Fed could buy zero percent perpetual T-bills (i.e., print money) so that the Treasury could pay our bills without borrowing and paying interest. Then, when Congress approves spending and the Fed covers the deficit with paper, the Treasury’s payments to contractors would boost M2 - A LOT!

But won’t printed money cause inflation? Only if the Fed prints too much money! By spending enough on infrastructure, Congress could return our M2/GDP ratio to its 2007 level without more inflation than we had in 2007. And fix our bridges without borrowing and paying interest.

As consumers buy more and banks lend more, rising home and stock prices will signal the Fed to stabilize our M2/GDP ratio with higher interest rates. Been there! Done that! Know how!

Make Congress and the President overturn the stupid law! Let the Fed print just enough M2 and not more – like a gardener stops sprinkling when the lawn is wet enough.

Google: UMKC Economics Faculty, NewEconomicPerspectives.org

There's too much fluctuation in precious metals to use them as a currency and far too limited supply to use them on a large scale, the value of paper currency can be much more easily stabilized even with some level of inflation. Anyone "investing" in precious metals when they're at record highs is out of their mind, in my opinion.

There is no such thing as silver or gold coin from the USA.

If you want to accept silver or gold coins from another country, be my guest, but you will find that none mint such coins for general use and only for the gold or silver content for silver and gold collectors and not meant for currency.

I do because it is value for value. The customers do not want Federal Reserve Notes or coin back as change.

D.T.G.

You can't go to prison for accepting gold and silver in trade for goods and services.

If someone wants to give me silver and gold, I can live with it.

I'd take gold right now.

lots of paranoids on the net

Barter is legal.