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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?


To: Jack Clarke who wrote (425)1/4/1998 10:49:00 AM
From: tekgk  Read Replies (2) | Respond to of 9980
 
Jack,

Your are welcome. Actually, I just thought of a simpler way to think about modern currencies. Their value is base upon faith - faith that current and future governments will service the debt that they have issued. There is no guarantee of redemption with tangible assets associated with the currency other than the currency itself. Anything that diminishes the faith diminishes the currency.