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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (8797)	5/22/2006 5:25:25 PM
From: haqihana	Read Replies (1) \| Respond to of 71588

Tim, I'm not going to get in a semantical pissing contest about hard currency. The point was, that if other major countries return to gold, silver, or even gems, as their financial base, we are screwed. 30 years ago, every high school graduate knew who the President was, when the Civil War began, etc. ad infinitum, but the graduates of today don't know squat about much of anything. High school graduates are checkers at burger joints, and many of the department stores, and they can't even count money. Just as a test, I will give them an amount of money that requires that they add, and/or subtract, and they look at as if I asked them to explain the atom bomb. IOW, the schools are graduating idiots these days. Yes, there are some great graduates that know more than we did when we graduated, but they are in a small minority.

To: TimF who wrote (8797)	5/23/2006 5:36:40 PM
From: Peter Dierks	Read Replies (1) \| Respond to 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.