Members of a Congressional panel questioned Thursday why the U.S. Mint has created a shortage of high-quality bullion coins, causing a speculative run-up in value.
The U.S. House of Representatives’ Domestic Monetary Policy Subcommittee was told that the country’s bullion coins are topnotch and have a potential high growth of profitability for the U.S. Mint and for the country. But testimony from the industry indicated there aren’t enough of them.
“The problem is there is high demand, but a shortage of the coins,” summed up Rep. Ron Paul, R-TX, the chairman of the subcommittee. More
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Why is it that none of the unites States suppliers are good enough for the U..S. Mint ? Nobody knows… Why are more jobs not being created here at home? Nobody knows… We have apparently a number of suppliers capable of supplying blanks to the Mint. Why are they not allowed to be suppliers? Even though this creates shortages… Again, “Nobody knows…”
Thanks to Ron Paul – and I think we should follow up on Maloney’s suggestion – Let’s find out why!
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Why is it that none of the unites States suppliers are good enough for the U..S. Mint ? Nobody knows… Why are more jobs not being created here at home? Nobody knows… We have apparently a number of suppliers capable of supplying blanks to the Mint. Why are they not allowed to be suppliers? Even though this creates shortages… Again, “Nobody knows…”
Thanks to Ron Paul – and I think we should follow up on Maloney’s suggestion – Let’s find out why!
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It was surprising to hear Mr. Clay announce the U.S. Mint did not bother to send anyone to this session. Some interesting things to learn from the witnesses about the U.S. Mint. e.g. Why should you pay twice as much to the IRS for “capital gains” ?
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It was surprising to hear Mr. Clay announce the U.S. Mint did not bother to send anyone to this session. Some interesting things to learn from the witnesses about the U.S. Mint. e.g. Why should you pay twice as much to the IRS for “capital gains” ?
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1 hour long, this 1 is a bit boring…
come on ron paul, where is that simple wisdom…
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God Bless Ron Paul!
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God Bless Ron Paul!
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The fact its so empty should give us all a hint to buy more. This is only the beginning.
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He leads my country, when I want the real news and representation I check in often.
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I love Ron Paul so much.
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buy silver and gold
»crosslinked«
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Eyeopening testimony from the people in the coin industry. The US Mint is incompetent or running a racket. Either way, culpable.
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“where are we gonna get all that gold and silver”
We already have it.
As production and distribution efficiencies increase, prices decrease.
Gold and silver are also only two metals. Commodity money can be denominated in literally -anything-.
Gold and silver are also fungable, and infinitely divisible. People are already trading in grams and tenths of grams of gold. No reason they can’t trade in mili-grams and micro-grams.
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Not sure I understand the intent of this hearing. Still, Run Paul Run!
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if you want to replace the paper FRNs with gold/silver coins you have to ensure the US mint is capable of producing them in the quantities required. Right now the US mint is unable to produce in sufficient quantities, so they fudge production by producing ‘proof’ coins and then saying they are complying with the law to produce in sufficient quantities to meet demand.
Gold/silver coins shouldn’t be ‘numismatics’ only.
And before anyone goes off their rocker, RP is only proposing gold/silver standard FOR THE GOVERNMENT. He wants to be able to allow any bank / private party (that includes you), to issue your own currency.
And before the MPE and other guys say its a global conspiracy of the money changers and it will be unworkable… how is it that there are itunes credits, facebook credits, farmville and WoW virtual currencies, that have an actual market price to US$, with tens of millions of people using them and no one complaining about ‘the money changers’.
Yes if money changers fudge numbers, commit fraud, debase,dilute or otherwise misrepresent their money, then yes they should be prosecuted.
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wow I can’t believe I watched the whole thing lol. I liked how once again Ron Paul pointed out that the Fed is destroying the value of our money. End the Fed!
Ron Paul for President 2012!
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Where was Max Keiser?
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