American Presidential Politics and foreign affairs Message Board

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Politics : American Presidential Politics and foreign affairs

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To: TimF who wrote (8797)	5/23/2006 5:36:40 PM
From: Peter Dierks	Read Replies (1) of 71588

By "not stable currency" do you mean Fiat Money? In short that means the full faith of the government stands behind it. Since politicians are faithful only to the next electoral cycle, that means the currency has zero actual value. For some reason the global currency market imputes a value on the dollar for example. The closest analogy I can think of to the US addiction to spending in excess of US GDP and spending the money borrowed from other nations is a mortgage lending situation. A person applying for a mortgage has to show sufficient income to repay the loan or it will be denied. If it is not denied, the loan rate will be astronomical.

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