The Mudcat Café TM
Thread #125979   Message #2805494
Posted By: Little Hawk
07-Jan-10 - 01:07 AM
Thread Name: BS: Obama caught in blatant lying
Subject: RE: BS: Obama caught in blatant lying
Oh, stop being so silly... ;-)

I am saying that the paper dollar had a much more solid and real and stable value back when it was a "Silver Certificate" than it does now as a Federal Reserve Note...because it was backed up then by reserves of precious metals and redeemable in same. It's now backed up by nothing but a promise and it's redeemable in nothing but itself. A good scheme if you are a legalized counterfeiter...which is what the Federal Reserve is.

I am NOT saying that all the trillions of present dollars supposedly out there (most of which are not paper bills, but just appear on some balance sheet or digital record) should have coins minted to back them up! Good God....there isn't that much gold and silver in the entire world.

There is a vast amount of utterly fictional money out there in play, and there's no way it can all be backed up, because it's a pipedream that was invented to generate debt and interest charges.

One would have to start over with a whole new currency...tremendously reduced in total numbers of "dollars" or whatever you called them from the present inflationary bubble.

I feel like I'm attempting to talk about dogs and cats here and the people I'm talking to are imagining that I'm talking about gods and tacks... ;-)

What happened to communication? Damned if I know. Maybe I'll just find some good books on the subject to recommend to you guys and give up trying to explain to you myself what the heck I'm talking about...

By the way, Canada has already eliminated both the paper dollar bill AND the paper 2 dollar bill, and replaced them both with $1 and $2 coins. It seems to work fine here. The country did not collapse. I believe it was done because it's cheaper in the long run to use the coins than it is to keep replacing the worn out paper bills. Coins last a long time. Bills don't.

(That's just a side issue to what I've been talking about. I mention it for its own interest's sake.)