Click the photo. See the full-size $100,000 gold certificate.First off - Why? Advertising is supposed to be the means for a business to promote its goods and services over that of the competition. The FDIC has no competition. It's a monopoly.
That's a gold certificate. A guarantee that there is gold stored in vaults of the federal treasury to cover that amount. How long has it been since banks handled gold & silver certificates? I'm pretty sure it's not even legal to own one. You darn sure couldn't walk in and exchange it for gold bullion. (Quick look at lewrockwell.com & wikipedia - private citizens are prohibited by law from owning gold certificates)
I know this is propaganda, designed to make us feel good about our financial institutions and markets, but... come on... without anyone losing a penny?! The penny isn't worth a penny these days, so I'm not sure that's going to inspire confidence. The dollar is weak. Inflation is rising, no matter how the Fed and Treasury try to juggle the numbers. At the rate we're going, I'm more likely to think about the $100,000 gold certificate and the penny as an example of exchange than to breathe a sigh of relief at how the government is protecting my savings.
No comments:
Post a Comment