Jack Lawson Sends: Olson on Precious Metals and Other Items of Financial Value, Part Two – Understanding and Measuring Worth

Here is the latest excerpt from Jack Lawson’s magnificent book series, the Civil Defense Manual. You can grab a copy of his book here. Jack is a strong supporter of American Partisan, and even had NC Scout write the chapter on Radio Communications (Chapter 17 in Volume I). I bought my copy the day it become available and I highly recommend you do as well.

Jack Lawson Sends: Olson on Precious Metals and Other Items of Financial Value, Part One – Dispelling Myths


“Everything you wanted to know about Gold and Silver as Precious Metals but had no one to ask…”

Measuring Worth

Go to this website… https://www.measuringworth.com/datasets/gold/result.php

Lawrence H. Officer and Samuel H. Williamson post “The Price of Gold, year 1257 A.D. to Present” on the website Measuring Worth, 2022. (Trivia… Anno Domini doesn’t mean ‘After Death’ but means “In the year of our Lord,” being the year that Jesus Christ was born and all years thereafter to the Second Coming). I am a financial contributor to this website and this excerpt is from that website…

Measuring Worth Is a Complicated Question

Intrinsic things are priceless: the love of your life, a beautiful sunset, or freedom. There is no objective way to measure these, nor should there be.

The worth of monetary transactions is also difficult to measure. While a price, wage, or other kind of transaction can be recorded at a precise point in time, the worth of the amount must be interpreted. The father of economics, Adam Smith, discussed this very question in one of the most important books in economics, The Wealth of Nations (1776):

“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it… But though labour be the real measure of the exchangeable value of all commodities, it is not that by which their value is commonly estimated… Every commodity, besides, is more frequently exchanged for, and thereby compared with, other commodities than with labour.”

(Courtesy of the Raconteur Report)

One can imagine that a hamburger of the same price is “worth” more to a starving homeless person than to a very wealthy one. An allowance of five pennies a week was worth more to a child in 1902 than it is to a child today.

Gold has always been a fascination to both scholars and the public at large, partly because of the use of Gold as coined money, in jewelry, and in the arts, partly because of Gold’s high value/weight ratio.

It is this high ratio, that is, the price of Gold, that underlies the utility of Gold, rather than other commodities or metals, for these purposes, although the famed “glitter” (appearance) of Gold also plays a role.

From https://raconteurreport.blogspot.com/2022/01/economics-101-inflation.html

Huge factors convening towards disaster

The United States Military is being gutted as a competent fighting force, compared to what it was, as I write this… and the people in Washington who are supposed to “serve the American people” in most cases care only how much money they can get from the Chinese and financial interests from concealed transactions that continue to do just the opposite of serving… transactions that subjugate and destroy what’s left of the America they’re supposed to serve and protect.

They serve only themselves regardless of which political party they claim to align with. They have sold their souls and we will have to pay for it… as it is nearing midnight on the proverbial clock of events. What isn’t being ruined by these disloyal people will be destroyed by further issues resulting from the Covid hysteria and such rubbish… such as massive borrowing and irreparable damage to businesses.

The few politicians and prominent people I listen to… such as American Heroes Mike Lindell of MyPillow.com and Senator Rand Paul… and forgive me if you are one of them, but not mentioned… are good people. Most of the remaining people and politicians are no more than self-serving phony’s and traitors to all but their own interests.

If I sound sarcastic and cynical with those statements… keep watching your Mainstream News Media and believing that your elected representatives mean what they say… and good luck to you!

A book that will open your eyes is written by Bob Livingston. Get a copy of his book the “Ultimate Hyperinflation Manual” at https://www.boblivingstonletter.com/ You will find the information of this Author Genius cuts through all the deception of what you live in… and will tell you the bare bones truth of finances, the economy and our government… all driving America towards collapse.

When will this collapse happen? That’s the big question

It has already begun. American currency, the dollar, is now paper not much different than what can be printed from your computer. There is nothing of value behind each dollar, unlike the Gold and Silver that used to be in vaults as the heavier and more cumbersome representation of each more convenient dollar. This value stayed in vaults, while using the easy to carry and exchange paper dollar representing that value instead. The Gold and Silver that used to represent that dollar, I believe is no longer there… that has been spent… disappeared.

It would be like taking your heavy Winter coat into a restaurant, handing it to a check in person, the check in person giving you a ticket that represents your coat, eating and enjoying your meal, then going to leave and presenting the ticket for your coat to that same check in person… but not getting your coat to wear out into the freezing cold… because they’ve sold it. You get a piece of paper that says… “We Owe You.” So, in the case of the coat, you’ll be okay if you don’t leave the restaurant or it’s tolerably cold outside to keep you from freezing.

This is what has happened to the American Dollar over the decades since it was removed from the Gold Standard in 1933. The same happened with Silver coinage.  When the value of Silver became greater than the Face Value of the Silver content of Dimes, Quarters and Half-Dollars, the “Coinage Act of 1964/65” changed the content of those American coins to something of similar worth to carnival tokens… clad coins of virtually no value.

I have heard the talk of people who swage (Pressure form) their own lead filled copper bullets discuss using the American penny. Even though it is not all copper, forming it for the full metal jacket outer copper part of the bullet… as they think it would be cheaper than buying sheet copper.

All of this has transpired and rests in the annals of the memories of people long gone before us… the difference being, people now no longer even think of going to the treasury and asking for Gold or Silver for their paper money. That thought has been buried with the people who experienced a time when it was a law of our currency.

Now, the backing of the dollar is only a statement of words. That statement is that the American Dollar is now “Backed by the full faith and credit of the United States Government.” Is that you, them, the Federal bureaucrats, Central Bankers, Treasury Department… who is it that’s promising the “Full Faith and Credit” and of what value is that to you? It is a promise of words… from a government with the reckless and endless spending habits of a drug addict or alcoholic who has by and large defaulted on other promises.

Clay Olson is from a family that has dealt with Precious Metals for generations. Precious Metals has been Clay’s sole focus and occupation for over 40 years. Clay deals only with a network of other bullion dealers that he has dealt with for decades. I was referred to him by a retired Special Forces First Sergeant friend who has also known and dealt with him for years. Established trust.

One of Clay’s first statements to me was… “The majority of the American people have very little understanding of why our money USED TO BE Precious Metal and is now only copper-nickel tokens, empty promises printed on cheap paper or worse, a digital computer printout. There is no interest in teaching our young people about this because that would muddy the water that the government needs to keep perpetually muddied now in order to fool the masses. How sad.”

Weights and Measures of Precious Metals

But first… something to make understanding the different weights and measures of Precious Metals… if it’s confusing, blame your ancestors.

The Gold Karat

Different than the Gold Karat purity system, the Diamond Carat (Carat spelled with a ‘C’ instead of ‘K’) is a weight system for Diamonds. The value of a Diamond considers weight of the Diamond more than anything. Other factors are part of the value of a Diamond such as color and clarity. A metric Carat is defined as 200 milligrams. Each carat is subdivided into 100 points taking into consideration precise measurements to the hundredth of a decimal place. The word ‘Carat’ or ‘Karat’ comes from the Arabic word ‘qiraṭ,’ which means “a measure of weight.”

Gold Karat system definition… a Karat scale is of the purity of Gold, of 24 units being pure Gold. The purity of Gold is measured equal to each ¹/₂₄ part of pure Gold in an alloy. For example… 24 Karat is pure Gold… 18 Karat is 18 Karats of Gold and 6 Karats of other metal alloy in the Gold.

This system is for Gold only… Silver in U. S. minted coins is measured in percentage of purity as stated by the United States Treasury Department for Silver coins they have minted over the last century and Silver weight can also be weight by Troy Ounces.

Visual identification of a Silver coin compared to post 1964 ‘clad’ coins. The Silver coin is fourth from the left and very obvious. Clad coins show the copper and other alloy contents of the coin, visible around the edge. This is not the fool proof way to identify Silver coins… find a trusted Precious Metals dealer to verify your coins.
(Courtesy of Quora.com)

Anything made of pure Gold deforms fairly easily and Gold ‘rubs off’ items over time when made of pure Gold metal, than of alloyed Gold objects.

Items such as jewelry are prone to breakage if pure Gold. The alloys are melted into the Gold to harden the metal against this deformity, breakage and wear.

Like “Her bracelet is 22 Karat Gold.” It will last longer and keep its form better if it is 22 Karat than if it is pure Gold… 24 Karat.

If you buy an item of 18 Karat Gold… you are buying 75% pure Gold by weight… the other amount of weight is a way less valuable alloy metal or metals. The higher the Karat number… the purer Gold you have.

Percentage of Silver and Gold… Different than Karat is the percentage weight of Silver and Gold coins which is stated in percentage and mostly used to state the purity of Gold and Silver in minted coins.

The Troy Ounce

The following six paragraphs are exacted and shortened from an essay by and courtesy of JAMES CHEN and www.Investopedia.com

In brief, a Troy Ounce is a unit of measure used for weighing Precious Metals that dates back to the Middle Ages. Originally used in Troyes, France, the Troy Ounce is often abbreviated to read “t oz” or “oz t.”

Some historians believe the Troy Ounce had its origins in Roman times. Romans standardized their monetary system using bronze bars that could be broken down into 12 pieces called “uncia” or “ounce,” with each piece weighing around 31.1 grams.

As Europe’s economic importance grew from the 10th century onward, merchants came from all over the world to buy and sell goods by Roman standards. Some believe the merchants of Troyes modeled this new monetary system using the same weights as their Roman ancestors.

The Troy Ounce is a measurement used in weighing Precious Metals. The Troy Ounce is the equivalent of 31.1034768 grams, whereas the Imperial Ounce is the equivalent of 28.349 grams.

A Troy Pound (12 Troy Ounces) is lighter than a standard Pound (14.6 Troy Ounces but by and large no longer used). The Troy Ounce is the only measure of the Troy weighting system that is still used in modern times. It is used in the pricing of metals, such as Gold, platinum, and Silver. The Troy Ounce became the official standard measurement for Gold and Silver in Britain, and the US followed suit.

Troy Ounce vs. the British Imperial Ounce

The Avoirdupois Ounce (which means “goods of weight”) simply referred to as Ounce (oz), is the British Imperial weight system commonly used in the US to measure foods and other items, except Precious Metals. It is the equivalent of 28.349 grams or 437.5 grains. A Troy Ounce is a little heavier, with a gram equivalent of 31.1. The difference (2.751) may be minute for a small quantity, but it can be substantial for large quantities… especially when dealing in Precious Metals.

 When the price of Gold is said to be US $1893/ounce, the ounce being referred to is a Troy Ounce, not a standard Avoirdupois Ounce aka Imperial Ounce. Because a Troy Ounce is heavier than an Imperial Ounce, there are 14.6 Troy Ounces… compared to 16 Imperial Ounces… in one British (and American) Imperial Pound weight (Do not confuse ‘Pound’ in weight to the British Pound currency).

This Imperial Pound is also not to be confused with a Troy Pound, which is lighter and is made up of 12 Troy Ounces.

If hyperinflation occurs in America and the Western World while the United States Dollar IS the World’s Reserve Currency, the whole World will suffer and the World will be in uncharted economic territory.

If hyperinflation occurs in America when the United States Dollar IS NOT the World’s Reserve Currency America, America and American Standards of Living will be destroyed. Think… America, a Third World Country standard of living when the American Dollar loses its protected status.

Hyperinflation will devastate your existence as much or worse than a war. Hyperinflation destroys countries, people, societies, meaning and morals worse than any war… without one soldier firing a shot or bomb being dropped.

STAY TUNED FOR PART THREE COMING OUT NEXT WEEK

Read… https://civildefensemanual.com/warning-posted-by-capitalist-eric/

Any further questions about Precious Metals can be directed to Clay Olson at… [email protected]

Other authors, books and resources I recommend for Preparedness and Survival…

Matt Bracken at www.EnemiesForeignAndDomestic.com

Joe Dolio at www.Tactical-Wisdom.com

Christopher Parrett at www.AVOW.com

Don Shift at https://www.amazon.com/Don-Shift/e/

NC Scout at www.Brushbeater.org

Johnny Paratrooper at https://www.patreon.com/GreenDragonAcademy

Up next… Part Two of Three… Silver, then Part Three of Three… Gold

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The Author advises the Reader… that the Author, the Contributing Authors, Publisher, Copyright Holders, Website Administrators are not attorneys and some recommendations or actions in this book that the Reader takes may lead to loss… financial and otherwise. The Author, the Contributing Authors, Publisher, Copyright Holders The Author, the Contributing Authors, Publisher, Copyright Holders, Website Administrators will not be liable for situations that arise from the Reader’s interpretations of material in this essay/article/supplement, the Civil Defense Manual, the Reader’s instructions to others, the Reader’s actions or implementation of recommendations and information or misinformation from this book or essay/article/supplement… that leads to the Reader’s liability, loss of their money or that of others or any other damages. You’re all adults… behave as responsible, safe, compassionate, common sense, lawful adults. Verify your Federal, State and Local laws and ordinances before using the information in this book or essay/article/supplement. As an adult… make your decisions independent of advice, information or misinformation from the Civil Defense Manual and any and all essays/articles/supplements. Wear big people’s pants and live with the decisions you make as your decisions… made by your independent thinking mind… and don’t blame others for your mistakes or misfortune… and that includes us.

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By Published On: April 15, 2022Categories: Economics, Guest Authors, Preparedness & HomesteadingComments Off on Jack Lawson Sends: Olson on Precious Metals and Other Items of Financial Value, Part Two – Understanding and Measuring Worth

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About the Author: Patriotman

Patriotman currently ekes out a survivalist lifestyle in a suburban northeastern state as best as he can. He has varied experience in political science, public policy, biological sciences, and higher education. Proudly Catholic and an Eagle Scout, he has no military experience and thus offers a relatable perspective for the average suburban prepper who is preparing for troubled times on the horizon with less than ideal teams and in less than ideal locations. Brushbeater Store Page: http://bit.ly/BrushbeaterStore

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