Re: LDM why you can't get it !
Quote:
should that read EL Cobollo vs EL Sombrero...?
There is No doubt that the resources of the most Knowledgeable on this subject will find Descriptive/Questionable errors of my posts. And I applaud that.
In the beginning of this Quest, I looked at the general known information, but not to deep, there were 10s of thousands before me. But I asked myself, "What is being overlooked by most everyone following the same information ? That told me that there is too much information out there, since no one has been openly recognized as having found the LDM, comparable to the Bull Frog Mine ? From a book read several years ago which linked Death Valley Scotty & the Bull Frog Mine, silver mining and the economic devastation of the German economy which was based largely on silver, I am unable (time restraint) to locate the (Bull Frog) connection. But have included an excerpt of a complicated series of movements of German reaction and United States.
Quote:
Coinage Act of 1873 The decision of the German Empire to cease minting silver thaler coins in 1871 caused a drop in demand and downward pressure on the value of silver; this had a knock on effect in the USA, where much of the supply was then mined. As a result, Coinage Act of 1873 was introduced and this changed the United States policy with respect to silver. Before the Act, the United States had backed its currency with both gold and silver, and it minted both types of coins. The Act moved the United States to a 'de facto' gold standard, which meant it would no longer buy silver at a statutory price or convert silver from the public into silver coins (though it would still mint silver dollars for export in the form of Trade Dollars)[6]
The Act had the immediate effect of depressing silver prices. This hurt Western mining interests, who labeled the Act "The Crime of '73." Its effect was offset somewhat by the introduction of a silver trade dollar for use in the Orient, and by the discovery of new silver deposits at Virginia City, Nevada, resulting in new investment in mining activity.[7] But the coinage law also reduced the domestic money supply, which raised interest rates, thereby hurting farmers and anyone else who normally carried heavy debt loads. The resulting outcry raised serious questions about how long the new policy would last.[8] This perception of instability in United States monetary policy caused investors to shy away from long-term obligations, particularly long-term bonds. The problem was compounded by the railroad boom, which was in its later stages at the time.
In September 1873, the American economy entered a crisis. This followed a period of post- Civil War economic overexpansion that arose from the Northern railroad boom. It came at the end of a series of economic setbacks: the Black Friday panic of 1869, the Chicago fire of 1871, the outbreak of equine influenza in 1872, and demonetization of silver in 1873. (
http://en.wikipedia.org/wiki/Panic_of_1873)
Note: wikipedia is much like this venue, anyone can start a page for displaying known information. Anyone can expound on that info. This info from wiki places the silver as a last reference, it should have been the first reference which most everything else was a reaction.
