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Old October 31st, 2009 #7
banjo_billy
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Join Date: Jul 2005
Location: San Jose, California
Posts: 3,032
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There are a lot of falsehoods in this article. Of course, it is published by a website that tries to sell gold and to convince Americans that gold is what we should trust.

Quote:
Originally Posted by Alex Linder View Post

There were a lot of inconveniences when the Pilgrims came here and settled, not the least of which was that most of them died in the first winter! The Jamestown Colony, a few years earlier, came out even worse. Just imagine: ...there were no banks, and little paper either, so there were no banknotes. No gold or silver mines, so their gold and silver had to be imported.
The Pilgrims didn't need money. As a religious farming community, they shared all work and products among themselves as a Christian commune. For business, they used barter. If they had English coins, they could trade these for goods that someone else was willing to trade for.

Quote:
Originally Posted by Alex Linder View Post
America was soon on its feet, and began manufacturing and exporting various things, not only to the rest of the colonies (states) but overseas. .... Mother England was heavily dependent on the new colonies for their taxes. When she fought the French and Indian War, Mother England found herself heavily in debt, and to pay that, she raised taxes on youthful America so much, that we revolted. We won, but fought it with paper money, and once again, history repeated itself, when the "Continental" dollar went to zero, after the presses had their way. From that, came the expression, 'not worth a continental.'
England had been in the hands of the Jews since Cromwell's time. The Bank of England was and is a banking swindle similar to the Federal Reserve Banking scam. It published bank notes and minted silver and could regulate the amount of both. The "heavily in debt" that the above paragraph alludes to, is the same "heavily in debt" situation in the USA today. That is, the government of England had been borrowing from the private bankers at interest and had been floating government bonds for operating finance. They were in debt to the private bankers because King George had been convinced that a governemnt being in debt to private bankers was a good idea.

The Continental Currency financed the Revolution and was carefully regulated by Franklin and the other patriots so as not to devalue it. However, the English and the Bank of England counterfeited the Continental and flooded the country with fake money in order to rob the Revolution of buying power. That is the real reason it was "not worth a continental". But this gold-buyers website wants you to believe that it was the paper money, itself, that was to blame.

There are numerous other falsehoods and twisted histories in this article but I don't want to take any more time with them. The above are the most glaring examples.