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Politics : Formerly About Advanced Micro Devices

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To: RetiredNow who wrote (316255)	12/19/2006 2:10:03 AM
From: Elroy	Read Replies (1) of 1573852

Our gov't doesn't have an appreciating asset behind it's debt. I don't think there is any currency in the world that has a hard asset supporting it. Since we took the dollar off the gold standard, there is no hard asset behind any currency. As for the asset behind US debt it is of course the US dollar. But behind the dollar you aint got nothing. If the no one will accept your dollar, you don't have a claim against anything. More of a problem for perhaps Zimbabwe than the the US dollar, but in the end there are no hard assets behind currencies.

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