DE-MONETIZATION OF SILVER

June, 1963, the government passed legislation severing the legal connection between silver certificates and silver. U.S. Treasury & Federal Reserve Notes are no longer fixed to a fixed mass volume of silver. (see DE-MONETIZATION of Gold )

The Law of Paper : "Bad money kills good money." Bank Notes are just instruments of debt ... if the bank Note is not backed by gold/silver/apples/oranges ... then it is based on Trust in God & commercial papers only!

The Money Game

Financial Engineering ... risk, insurance, (intermediators - Banks) ... notes, debt instruments, money market instruments, loans, commercial papers (CP)
Lenders (finacial surplus, Equity)
Borrowers (finacial leveragers, Leveraged Buy Outs, gamblers, "borrow money to preform a leveraged buy (LBO)... private equity")

The Money Game :: risk transfer via commercial paper (asset backed securities) ... assets include packaged car, home, college, and credit card loans ... this is key sector of the Money Market