The Mudcat Café TM
Thread #115371 Message #2469437
Posted By: Bobert
18-Oct-08 - 07:00 PM
Thread Name: BS: The Crash of '08
Subject: RE: BS: The Crash of '08
Tieing the value of currency to gold or silver makes no sense at all... It's no better than beads that were used to entice Manhatten Island away from the Indegigenous folks...
Actually, yeah, I've wondered where the money has gone but that isn't the real question here...
GNP isn't about how many dollars there are in existence but how many times they turn over every year, i.e. spent and respent and respent... That is what is not occuring... Well, not in this country, that is... Herein lies the problem... They are being taken out of ciruclation because they are going overseas...
That is the crux of the currency problem, pure an' simple...