Hugo Salinas Price: Opening the mint to gold and silver -- then and now

9:35p ET Friday, September 11, 2009

Dear Friend of GATA and Gold (and Silver):

In a new essay, Hugo Salinas Price, president of the Mexican Civic Association for Silver, has outlined his proposal for the restoration of a silver currency in his country, whose fortunes are strongly linked to the metal. Salinas Price writes:

"I do not believe any change can be effected by a decree of any sort. The change must come in a roundabout way, insensibly. The problem of an overnight change, from the whole world's way of economic calculation by simple numbers, to calculation by quantity of precious metal, is simply overwhelming. ...

"Just as the change from using quantities of precious metal to effect economic calculation was gradual -- a gradual decline in quality of money, I may remark -- so a change back to using precious metals in economic calculation will have to be gradual."

Salinas Price's essay is headlined "Opening the Mint to Gold and Silver -- Then and Now," and you can find it at the civic association's Internet site here;

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=97

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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