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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (130976)	4/23/2012 7:09:48 PM
From: lorne	2 Recommendations Read Replies (2) \| Respond to of 224748

Tim...Thanks for your responses....All somewhat confusing...Lets say for the hell of it that obama and his bankers decide to bail out Europe and the Euro and they send an electronic cash infusion of say 400 billion us dollars..There is no actual cash dollars put in circulation just the word of bankers and the strength of the US dollar at that time. So this electronic signal is accepted by Europe as cash? So now Europe owes the American tax payer 400 billion and interest? So for the bail out to work the people of Europe must believe that the US dollar is actually worth something? So somehow this would cause inflation in Europe even though no actual cash changed hands? I admit...I don't get it...If obama and his bankers sent over about 100 tons of gold I could understand that, it is something you can touch,feel and is a visible value. It's sort of like believing those monsterous 747s can actually fly...if everyone on the plane suddenly believed this thing is to big to fly it would fall out of the sky. :-) Like fiat paper money ..people actually have to believe it is worth what bankers say it is worth? And whats really scary is timmy geitner is handling all this stuff I think I should have left this topic alone. :-)

To: TimF who wrote (130976)	4/23/2012 7:13:20 PM
From: tonto	2 Recommendations Read Replies (1) \| Respond to of 224748

Actually, it is extremely important. I am happy to use tokens or chips for example, but have no interest in them if they cannot be converted should I choose to do so or am lucky enough to do so. Electronic private currencies only work today because currency at some point has been traded for the private one and with the understanding that it will be converted back on demand. One will not accept a currency if it is not backed. The Zimbabwe dollar is an example...