I think of silver as legal tender. This is a proposal for many years. The Bank of Mexico coins fine silver coins. 999 Law. The ounces of silver freedom, for example, and some other lesser-known appellations. However, although he has been quite the proposal and all Governors of the country, most of the legislators and civil and business associations have expressed their agreement, monetization of silver is not yet declared. If the silver was declared legal tender, what benefits there? According to a study commissioned by a Mexican legislator and carried out by the center of studies of the public finances of the Chamber of Deputies, the following are some of the advantages: silver coin not lost nominal value.
That is, an ounce of silver will always be an ounce of silver. Additional information is available at David Zaslav. Although give flu to USA!It encourages savings, which is good for families and the country. Everyone will want to own silver coins and spend paper, steel and nickel that have no value in themselves. The productive investment due to the saving of every citizen would increase significantly. More money would stay within the national territory. Currently 4 of every 5 kg goes abroad and they tops at prices below market value. Silver coins can last up to centuries, on the other hand the current currency paper only lasts a few months and it must be replaced by new. The disadvantages that are also mentioned, include the higher cost of minting with their respective risk of rising demand and the possibility of being silver best currency for savings demand will increase dramatically and can not meet the market.
However, seems to be that the advantages are much greater than the risks. I wonder how much lose if we try? The population is ready and very much needed. Why the Bank of Mexico, being the authority in monetization, not has ordered the Declaration of silver as legal tender? When I answer Guillermo Ortiz, Governor of the central institution, I will make them know the answer. So far, I think that if we slept under the hat, another more awake is going to come and enjoy first us profits monetize the silver. Born in Mexicali, Baja California, Mexico. Studies of mechanical-electrical engineering by the UABC. Engineer quality certified by the American Society for Quality (ASQ). Employee of an aerospace company.