The Mudcat Café TM
Thread #43992   Message #698352
Posted By: Little Hawk
25-Apr-02 - 12:11 PM
Thread Name: BS: Still alive in Argentina
Subject: RE: BS: Still alive in Argentina
McGrath - That is the absolute truth!

Ebbie - Canadian money, like American money, was once redeemable at the bank in silver coins at face value. It was taken off that standard in the late sixties, a few years after the silver certificates were terminated in the USA. That's what always happens. The USA does something to make things worse, and Canada does the same thing within 3 years or less.

Canadian money is now based on the same thing American money is based on...nothing at all...other than a promise...from a group of highly unreliable people, billionaires all, with most of their money in offshore tax shelters and such.

As long as everyone pretends the money is worth something, then it is. If they stop pretending...the show is over, and the banks shut down.

- LH