01-28-2014, 10:52 AM
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#76
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Saul Paul
Join Date: Jan 2013
Location: remote location with a remote weapon station
Posts: 6,398
Battle Record: 16-26
Rep Power: 1663351
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he speaks....
Quote:
Originally Posted by uh-oh
just c you are thinking about fort knox i think? i seen that doc. theres no gold there.
chyeaahh you are usually on point and make all these dudes look foolish, but the us dollar isnt backed by ANYTHING other then the us governments word. its a fiat currency, most major nations don't have anything backing there money other than there word and private organisations and shit
so if we owe people money we basically owe them slave labor. we could give them gold but there isnt enough gold silver or other precious metals to actually back the amount of money in federal notes
its not backed by anything, its monopoly money.
ps, sources
http://www.federalreserve.gov/faqs/currency_12770.htm
http://en.wikipedia.org/wiki/Gold_standard
http://www.gold-traders.co.uk/gold-i...ed-by-gold.asp |
What about the missing gold reserves though. What are reserves
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