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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: ballsschweaty who wrote (67802)	8/19/2007 11:15:01 PM
From: The Vet	Read Replies (3) of 116555

<< There is more gold in the world than U.S. dollar paper currency. >> It may come as a surprise to you that US paper isn't the only form of fiat currency in the world. Other countries issue paper money as well, and lots of it.... It might also surprise Americans that there are plenty of places in the world which will refuse US greenbacks if offered in payment for goods or services. The idea that the US dollar is universal money everywhere comes from people who haven't travelled much... Gold is pretty well accepted and recognised everywhere, with the possible exception of the US where of course it was illegal to own for quite a long period of time and where some still believe that status persists. It always seemed ironic to me that a "free" country could actually make a law that made the possession of a valuable and non toxic metal into a felony for political reasons with scarcely a murmur of dissent from the populace....

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