Saturday, November 12, 2005

Hugo Salinas Price's Message Goes to Sao Paolo

"Mexican Congressmen are going to Sao Paolo, Brazil, for a meeting of the "Latin American Parliament" on Nov. 24 and following days.

Among the Congressmen included in the delegation is a group from the three main political parties in Mexico (who are totally at odds on other matters!) who will make a presentation divided into three parts, regarding silver as a currency which can help unite the economies and politics of the region.

One party member will present the history of silver, why it went out of circulation.

A member of another party will present the way that silver can be reintroduced into circulation permanently - a coin with no nominal face value, whose value will be quoted in a similar fashion (similar seigniorage) by participating Central Banks in each country's local currency, and with the provision that no quote can be reduced, once given out.

Yet another member of another party will present the social, economic and political adantages of placing such a coin into circulation.

After the dismal failure by the US at the recent get-together in Buenos Aires, this new and imaginative proposal may well receive close attention and - who knows? - may spark interest in the Mexican plan, for reintroduction of silver into circulation, in other countries of Latin America, all of which desperately need new and inspiring ideas besides the outworn dollar-dependency song.

So, let's hope these courageous Congressmen are successful in transmitting the message of real money as a "liquid financial 'cushion'" for savers (see Howard Kurlitz's article "Greenspan's Legacy of Debt")

A financial cushion that has a built-in capacity to respond to inflation AND the possibility of rising in value as silver goes up.

So, Mexico's message goes international." - Hugo Salinas Price

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