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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 (130980)4/23/2012 8:14:30 PM
From: Wayners  Read Replies (1) | Respond to of 224749
 
Actually the dollars are a liability on the Fed's balance sheet and represent a claim against whatever is on the asset side of their balance sheet. Upon examining the asset side, your dollar simply because a claim against miniscule gold assets and whole boatload of promissary note assets, mostly consisting of U.S. Govt debt. If the Govt can't pay, your dollar is worthless. If the Govt can pay then your dollar is worth something.