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Hugo Salinas Price: A primer on the Mexican 'Libertad' silver ounce as a savings vehicle
8:27p ET Tuesday, September 12, 2017
Dear Friend of GATA and Gold:
In "A Primer on the Mexican 'Libertad' Silver Ounce as a Vehicle for Savings of the Common Folk," Hugo Salinas Price of the Mexican Civic Association for Silver explains what happened to Mexican silver coins imprinted with a currency value that quickly was overtaken by depreciation of the peso. That is, the coins were liberated from their currency imprint by melting into bullion for sale in the metals market.
Thus, Salinas Price notes, Mexico can have its own silver currency to shield the savings of its people only by quoting the coin's peso-exchange value on a daily basis and pledging never to reduce that value.
Minting the currency of the savings of the Mexican people might put some central bankers out of work in Mexico and around the world, but it would bring great strength and employment to real industry in the resource-rich country.
Salinas Price's commentary is posted at the association's internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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