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Does anyone think we will ever back our currency
Bear
Posts: 18,954 ✭✭
Even partially, with something tangible?
There once was a place called
Camelot
Camelot
0
Bear
Posts: 18,954 ✭✭
Bear
Posts: 18,954 ✭✭
Bear
Posts: 18,954 ✭✭
Comments
And the answer is........................
perhaps 2% of each dollar, with
gold or platinum or palladium. Perhaps
a mixture of all three.
Camelot
I don't see any leadership on the horizon that could tackle this issue and convey it to a brain dead populous.
How can a leader speak on a complicated issue like this and require sacrifice when many cannot balance a checkbook or think they have money left when there are still checks in their book.
Ren
Eventually and it's not in the too distant future either mind you, the same idiots will me earning 100K a year median while accumulating zero equity, no cars ( only rented vehicles ), njo possible chance to OWN homes ( they will surrender to 40 and 50 year mortgages thereby forgoing any property ownership or rights , essentially renting) to where home ownership will go the same way that simple car ownership went, ie: renting, but of course it will be called something that "sounds" "smarter" such as "leasing" as the dollar will be the new peso of the western world.
Some will own plenty, those who have stashed it away, have political connections, etc, just like in communist countries but as far as a middle class who owns anything, that's disappearing even faster than integrity and intelligence are.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
According to www.coinflation.com, at the moment the cent has 46% backing, the nickel 92%, the dime, quarter and half 17%.
Don't worry, be happy!
My Adolph A. Weinman signature
Must I remind you that each and every dollar is backed by the good faith, love and compassion of your beloved God Fearing United States Government? For crying out loud you bunch of ungrateful non-believers. Do you know that there are Patriots in Foreign Lands, spilling their blood to back the US Dollar?
The American Dollar even has the eye of God on the reverse. What can have more value than that? Believe in the Dollar, love the Dollar or leave the Dollar behind. Go to someplace with a better currency if the USD is not up to your standards.
Sorry, no offense intended. I was just channeling a spirit of self-rightousness. Hey did you hear about the BEP's plan for the future? When the dollar becomes worth about a penny by todays standards, they will issue dollars printed on rolls of Charmin. That way you can exchange a roll for a McD's burger or use it to do what you need to do. How's that for a valuable currency?
Only thing left to back our dollar is the US Military...the only thing of strength that we have left!!!
If we do indeed still own the 8100 tons of gold listed on our books, that is a suitable amount to back the circulating currency of the US. What it cannot possibly back is all the credit that the banks have created out of thin air that circumvents our monetary system. Until we get a better handle on the use of fractional reserve ratio and the leverages used in banking contracts we have no chance of anchoring the currency to something stable and being able to walk the talk. What good is it to show a stable M2 or even M3 in the $7-$13 TRILL range when the banks and FED can create liquidity to the tune of hundreds of TRILLIONs on their own?
Yes, either we anchor our dollar to something tangigble, if even just for a few percent, or we can simply flush it down the toilet and get merged into a new system such as a cheapened Amero or Euro.
roadrunner
<< <i>The question should not be about the $ but about our Nations leaders and Companies which have destroyed the Free Market!!!! It is about Trust more than about the worth...without trust of the people of the world our stockmarkets as we have known it in the past are OVER!
Only thing left to back our dollar is the US Military...the only thing of strength that we have left!!! >>
Yes, and my concern will be over the dismantling of our US Military as some have advocated in the past. One in particular was a former president.
Ren
This cycle is still not done. The current dollar has life for at least 10-50 more years. at an every depreciating value, of course.
<< <i>For the dollar to remain the world's reserve currency it will have to be backed with something down the road. If that doesn't occur then we will hand over the reigns to someone else such as China that maintains a growing economic base with real assets (ie where banking or money laundering is not their primary business).
If we do indeed still own the 8100 tons of gold listed on our books, that is a suitable amount to back the circulating currency of the US. What it cannot possibly back is all the credit that the banks have created out of thin air that circumvents our monetary system. Until we get a better handle on the use of fractional reserve ratio and the leverages used in banking contracts we have no chance of anchoring the currency to something stable and being able to walk the talk. What good is it to show a stable M2 or even M3 in the $7-$13 TRILL range when the banks and FED can create liquidity to the tune of hundreds of TRILLIONs on their own?
Yes, either we anchor our dollar to something tangigble, if even just for a few percent, or we can simply flush it down the toilet and get merged into a new system such as a cheapened Amero or Euro.
roadrunner >>
i agree that untill it is known what the black hole of credit default and derivative swaps really "adds" up to it won't happen any time real soon,
but someday the phoeni$ will rise
with something attached to it as an anchor.
While I don't think oil works all that well, it is simply an example. It works better than fiat.
Edited: had I mentioned "gold" as the "tangible" item all the anti-gold bugs would have been up in arms again rehashing the past 65 years. So therefore I selected oil
roadrunner
At least oil is a liquid asset!
My Adolph A. Weinman signature
Oh the beauty of it all.
Materialism. The perfect reason for our existence.
As an aside...
Even European countries such as Italy and Spain are having a tough time in the Euro band now, because they cannot depreciate their currencies like they used to deal with debts and soften blows. The Greeks, Italians, Spanish central banks were masters at this during the 1980's but had to tighten up in the 1990's to get on board with the Euro.
If the US gets its financial act together (and the jury is still out on that, but I wouldn't bet against it), the USD will remain a premier currency. If you think the US is on the verge of a financial meltdown, then the USD will be no better backed than the Egyptian pound or the Kenyan shilling.
I can't believe what I am watching the arrogance and the lies spewing from her mouth. I think she really believes it.
BUY GOLD and SILVER folks.
It will NEVER be the same again.
to be outsourced to china to save money.
Our industrial base base has been outsourced to Japan and china
Customer service departments outsourced tp India and Bangladesh
Pasta production outsourced to Italy
Me might just outsource our money to the Bundasbank
Perhaps we could sell California, Arizona, Texas, Utah and Colorado
back to Mexico for gold.
Then we could sell the Louisianna Territory back to France for gold.
Then we could sell Florida back to Spain for gold
Alaska back to Russia for gold
Oregon back to England for gold.
Perhaps Sweden or Holland would buy back New York for gold.
Camelot