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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Ilaine who wrote (82816)3/20/2001 4:34:26 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
you have been falling prey to the propaganda then...it is clear that a gold standard (or something along those lines...a 100% pure gold standard would be difficult to implement, unless the fiat system fails completely) is primarily against the interests of our benevolent rulers...since it would force them to stop their money printing.

to argue that all money is backed money is absurd...it's only pieces of paper, depending entirely on faith. if you lose your faith in it, what you're going to do? go to the Fed and tell them 'it says here i get a dollar for my dollar on that note'? in the past you could redeem it for gold, which assurance by itself made redemption unnecessary. it's only backed by faith, nothing else. if that confidence goes away, and you'll see the emperor has no clothes, and all you really have is empty promises...confetti.
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