Look at the dollar bills in your wallet. They say they are "legal tender for all debts."
But are they? What makes them valuable? What makes them worth anything?
Each bill says, "In God We Trust." But God won't guarantee their value.
The $20 bill depicts the White House. Congress is on $50s. But neither guarantees the value of our dollars.
I wouldn't trust them if they did. I don't trust politicians, generally, but I especially don't trust them with money. Since President Richard Nixon took the U.S. off the gold standard, the dollar has lost 80 percent of its value.
So what makes money trustworthy?
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Throughout history, all fiat currencies have failed, and so will ours.
ReplyDeleteOnly the promise of the government and the faith of the users.
ReplyDelete6:51
ReplyDeleteIt isn’t “ ours” it is theirs’
The international banking families
COME AND GET IT !!!
ReplyDeleteIf you don't want yours, I'll take it.
ReplyDeleteHa Ha Ha ..your answer : NOTHING !...( Use them as toilet paper or to wrap your fresh fish in !!!!!!!!!
ReplyDelete842
ReplyDeleteYou simply aren't paying attention.
Read the "note" or debt instrument.
It belongs to the Federal Reserve Bank
You may only borrow it.
In exchange for something (goods or services)
Get it?
It was originally a representation of something - gold.
Now it represents the private bankers themselves.
It is fiat.
It literally has no value.
May 25, 2019 at 2:07 PM:
ReplyDeleteI'll take all that worthless paper you don't want. It sure has value to me when I take it to a merchant and exchange it for goods and services. I don't "borrow" my money from the federal reserve, or anybody else, unless it is a loan, that I pay back with....you guessed it, money! Of course it's like the value of equities. It is value on paper only, and has no real value unless it is "realized," that is, when it is bought and sold. All that "value" in a portfolio is nothing but a number on a piece of paper. Only has value when it is sold. The paper in my wallet has value now, and I use it to buy other assets. Don't try to tell me it has no value. I can still use it to BUY gold, if I want to. You do know how gold is valued, don't you? IN DOLLARS!!!!