Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: frankw1900 who wrote (98456)	4/28/2001 12:37:30 AM
From: John Pitera	Read Replies (2) of 436258

US currency is backed with the "full Faith and credit of the United States" Obviously we could have another period of pronounced inflation, where it takes twice as much currency, ( US or other major currency) to buy the same amount of a product or service as it did just a few years before. The 1970's bore out this reality. Paper instruments have a party on the other side. Any Party can decide to default..If China beats the US in a Nuclear War next month and decided to negate Dollar denominated Assets... those assets and paper would be worth little....... anything is intellectually possible. We just saw the NASD go down 70% in a year, which was implausible to most everyone except to some of these people who are talking about a renewed interest and price appreciation of precious metals. Gresham's Law was that bad money drives out good money..... coins were clipped and reduced due to the fact that they were hard fixed money rates instead of paper. The wise men came to visit Jesus, with gifts of Gold not paper assets. And Myrhh and Frankenscence. John

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