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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (10329)	10/22/2006 11:32:11 AM
From: Ilaine	Read Replies (2) \| Respond to of 217896

i was talking about the monetary system that is faith based, when faith ought to break The monetary system is based on the principles of Adam Smith, who argued that instead of monetizing gold, we should monetize the real assets of the country like industry and labor. It's been tried before but the government always was in control and ordered the printing presses to run faster, ever faster, so that the paper wasn't backed by anything anymore. I doubt very much that Chinese money, with a real GDP of about $8 trillion based on PPP (purchasing power parity) rather than the official exchange rate, is sufficiently backed by gold, either, but I don't expect yours to break, anymore than I expect ours to break, now that they just give lip service to the official exchange rate.