Saturday, August 6, 2011
Hugo Salinas Price Proposes US Remonetize Silver Dollar at GATA's Gold Rush
Hugo Salinas Price explains his silver dollar remonetization proposal to US.
*Hugo Salinas Price: introducing silver to the Mexican economy is a healthy first step. there will be an alternative to fiat.
*Salinas: why not remonetize the silver dollar? circulation of silver dollars in parallel with FRNs
*Salinas: my savings are 99% in gold. But people have more emotional attachment to silver. Politics is about emotions.
*Salinas: Joe Six-pack does not understand gold, it's perceived as elite money, but silver dollar coins would be easy to understand.
*Salinas: Treasury has the power to coin and regulate silver dollar coins.
*Salinas: Dorothy from the Wizard of Oz was unaware of the magical power of her silver shoes, as the American people are unaware of the power of the silver dollar
*Hugo asked: enough silver in the world for his plan? -It all depends on the price. With silver at $500/oz there'll be plenty.
*Hugo Salinas: it's got to be official, otherwise you will run into the troubles that Von Nothaus faced.
Posted by The Doc at 11:40 PM