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

To: Maurice Winn who wrote (52025)7/3/2009 7:38:52 AM
From: carranza21 Recommendation  Read Replies (1) | Respond to of 218552
 
An actual US$ is a promissory note, a mere IOU

It's not even that, though it once was a promise to exchange the note for an equivalent amount of gold or silver on demand. Now it is merely 'legal tender,' the legally acceptable means of settling debts.

There is no promise now whatsoever.



To: Maurice Winn who wrote (52025)7/3/2009 8:12:06 AM
From: TobagoJack11 Recommendations  Read Replies (1) | Respond to of 218552
 
as long as the great state of california accepts its own iou for payment of traffic fine, property tax, sale of government owned real estate, and state university tuition etc, the system could work for a while ... say a month or two ;0/


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