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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (251638)6/3/2010 12:32:01 PM
From: neolibRead Replies (2) of 306849
 
But our US $ is nothing but an IOU as well. The only difference between the US $ and an individual IOU is that the US $ is based on the collective fortunes of the USA, rather than the individual fortunes of someone writing an IOU, and its value is easier to determine for the average person. US $ risk averages all of us. But just like an individual can get in over their head writing IOU's, thus debasing them, so can the central authority who writes the IOUs (currency) for a country. No different.
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