DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - does minting coinage incur federal reserve interest?

**AutocadOemM** · 08-14-2012, 06:40 PM

The way it used to be: People and/or businesses could bring gold to the Mint, the Mint would produce coins from the gold, the Mint would charge for the service, give the gold coins to the owner, and viola, gold coins a.k.a. money with no debt or counterparty risk involved.

The way it is now: The mint makes billions of base metal tokens with fiat values stamped on them, and they are stored in the vaults of the Fed. Via debt creation, the Fed releases the coins to a commercial bank which then distributes them to the public. The result is coinage based on debt with value determined by the full faith and credit of the USA.

08-14-2012, 06:40 PM	#8
AutocadOemM Join Date Oct 2005 Posts 532 Senior Member	The way it used to be: People and/or businesses could bring gold to the Mint, the Mint would produce coins from the gold, the Mint would charge for the service, give the gold coins to the owner, and viola, gold coins a.k.a. money with no debt or counterparty risk involved. The way it is now: The mint makes billions of base metal tokens with fiat values stamped on them, and they are stored in the vaults of the Fed. Via debt creation, the Fed releases the coins to a commercial bank which then distributes them to the public. The result is coinage based on debt with value determined by the full faith and credit of the USA.
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