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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Chispas who wrote (67801)8/19/2007 8:57:17 PM
From: ballsschweaty  Read Replies (4) of 116555
 
< Maybe the paper currency of an over-indebted country isn’t money either…">

Paper currency is the only form of money in our system. Everything else is credit and IOU's. As shown by the Countrywide run and the flight out of money market instruments, the masses are beginning to realize that credit is not money.

There is more gold in the world than U.S. dollar paper currency. That must really bother the Goldbugs. U.S. dollar paper currency is more rare than gold. Hilarious!
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