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Since the USA Dollar isn't backed by anything of value..

 
Anonymous Coward
User ID: 1211208
United States
11/29/2012 12:00 PM
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Re: Since the USA Dollar isn't backed by anything of value..
US dollars are backed by everything that is up for sale in the USA at any given moment. That myth about them being backed by nothing is bullshit. Though printing money does have an effect. It makes everything up for sale more expensive and every dollar currently in circulation worth less.
 Quoting: Anonymous Coward 27428056



We currently export 8% of things we make....that means we have to import 92%....

show me the value... banana2
BOWMAN

User ID: 11306451
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11/29/2012 12:00 PM

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Re: Since the USA Dollar isn't backed by anything of value..
.
we have no choice but to use it, .

 Quoting: Anonymous Coward 27851254


Sure you do.

You could always go the uncivilized route.

I don't advocate it though. chuckle


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Anonymous Coward
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11/29/2012 12:09 PM
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Re: Since the USA Dollar isn't backed by anything of value..
There have been plenty of severe economic depressions while countries were on or were trying to maintain a gold standard.


 Quoting: Anonymous Coward 22089462


You say this like depressions are a bad thing, microscopically they are a bad thing, but macroscopically they are a good thing. Depressions are caused by concentrations of mal-invested debt. That is too much debt focused in market sectors that are not or will not perform in the future to the extent necessary to realize the assumed future value of the debt created in the denominated currency.

Depressions clear that bad debt out through bankruptcy, failure. What current policy does is try to extend the life of the mal-invested debt in an effort to support unsupportable prices. In a free market, people and corporations are free to succeed and free to fail. In our current system select individuals and corporations are using the system to avoid failure through bailouts and cheapening credit standards, etc.

If we ever want to return to a healthy, sustainable economy we need a severe depression to liquidate the mal-invested debt. Nothing will improve until this is allowed to occur.
Anonymous Coward
User ID: 20901334
United States
11/29/2012 12:17 PM
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Re: Since the USA Dollar isn't backed by anything of value..
my issue is with the interest we pay the corporations(fed reserve)for the issuance of money.

we have no choice but to use it, so it should be interest free, the peoples money if you will...should not be held hostage to interest.

nationalize the banking system, one of the Dakotas has a working model.
 Quoting: Anonymous Coward 27851254


Yes, actually, you do have a choice. Demand lawful money per 12-USC 411 on all your deposits and withdrawals at your bank and you will "opt out" of the Federal Reserve system.
Anonymous Coward
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11/29/2012 12:20 PM
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Re: Since the USA Dollar isn't backed by anything of value..
There have been plenty of severe economic depressions while countries were on or were trying to maintain a gold standard.


 Quoting: Anonymous Coward 22089462


You say this like depressions are a bad thing, microscopically they are a bad thing, but macroscopically they are a good thing. Depressions are caused by concentrations of mal-invested debt. That is too much debt focused in market sectors that are not or will not perform in the future to the extent necessary to realize the assumed future value of the debt created in the denominated currency.

Depressions clear that bad debt out through bankruptcy, failure. What current policy does is try to extend the life of the mal-invested debt in an effort to support unsupportable prices. In a free market, people and corporations are free to succeed and free to fail. In our current system select individuals and corporations are using the system to avoid failure through bailouts and cheapening credit standards, etc.

If we ever want to return to a healthy, sustainable economy we need a severe depression to liquidate the mal-invested debt. Nothing will improve until this is allowed to occur.
 Quoting: Anonymous Coward 961432


The Corporation known as the US Federal Government went into receivership/bankruptcy in 1933.

Until you get that historical fact straight, you will never understand what has been going on since.
Anonymous Coward
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11/29/2012 06:42 PM
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Re: Since the USA Dollar isn't backed by anything of value..
sure it is....it's backed by debt....and we all know there's plenty of that
Nikola Tesla

User ID: 18230284
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11/29/2012 07:08 PM

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Re: Since the USA Dollar isn't backed by anything of value..
You say this like depressions are a bad thing, microscopically they are a bad thing, but macroscopically they are a good thing. Depressions are caused by concentrations of mal-invested debt. That is too much debt focused in market sectors that are not or will not perform in the future to the extent necessary to realize the assumed future value of the debt created in the denominated currency.

Depressions clear that bad debt out through bankruptcy, failure. What current policy does is try to extend the life of the mal-invested debt in an effort to support unsupportable prices. In a free market, people and corporations are free to succeed and free to fail. In our current system select individuals and corporations are using the system to avoid failure through bailouts and cheapening credit standards, etc.

If we ever want to return to a healthy, sustainable economy we need a severe depression to liquidate the mal-invested debt. Nothing will improve until this is allowed to occur.


You could not have described the current state of affairs more accurately.

Good Job!

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