The greenback

[Damocles]

Either, I'm a moron or you are. Try to keep up. I will go as slow as possible.

The federal reserve is composed of foreign investors who have REAL wealth(Not backed by debt). They lend that REAL wealth to America in Federal reserve notes with interest. I exaggerated the 50% interest.

I heard more modern figures as being less(like 6%) but either way, you are already in the hole as soon as you take FRN.

Anyways, when America had no more gold to pay, they set up a GDP system, where Americans could use the GDP as collateral to pay back the loans. The GDP guaranteed(for the most part) real wealth income. As long as they were able to pay the debt? The Fed would allow them to increase the debt. Therefore America's debt was backed by FED wealth. And of course as I explained the GDP.

Again the feds could exaggerate their holdings but up to a certain point.

Geebus, it just starts with a flat incorrect statement and then builds on it. The whole foundation of any form of "knowledge" on this subject that you may believe you have fails with the first statement of how they lend that "real wealth" to the US Government. Right there is where it starts to go wrong. Every piece after that is incorrect as well because all of it builds on that one factually incorrect statement.

Fiat Currency is not backed by any form of "real wealth", this is a fundamental piece of knowledge needed for any sort of realistic participation in this conversation. Each and every person must understand what Fiat Currency means.

Fiat Currency is literally money that is not backed by "real wealth", there is no gold or silver backing the currency, nothing. That is what fiat currency means.

Please read the last two sentences carefully, write them down 10 times each. Memorize them and hold them in your mind longer than 2 seconds. If you can actually grasp the concept of fiat currency we can begin to educate you on the topic so you can maybe get to a level where you can speak without the first sentence of what you say being so full of stupid that the rest of what you say no longer matters.

Please pay attention to this: Fiat Currency is not backed by real wealth, the Federal Reserve does not loan "real wealth" to the US government. Gold or Silver reserve notes no longer exist, only "legal tender for all debt public and private"...

Money that used to be redeemable for gold, then later silver, no longer exists (well you can buy the collectible paper but it is no longer redeemable). This is what FIAT CURRENCY is. It is literally what it means.

I cannot stress or repeat this often enough, because it is the fundamental piece of this conversation which makes every single thing you say stupid beyond repair. Fiat Currency is not backed by "real wealth"...

The investopedia definition of Fiat Currency:

http://www.investopedia.com/terms/f/fiatmoney.asp#axzz1bvLHUeSV

What Does Fiat Money Mean?
Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith.

Here is the wikipedia definition and page:

http://en.wikipedia.org/wiki/Fiat_money

Fiat money is money that has value only because of government regulation or law. The term derives from the Latin fiat, meaning "let it be done", as such money is established by government decree. Where fiat money is used as currency, the term fiat currency is used.

Please study this.

Fiat Currency is not backed by "real wealth"...

Please God... Let wiseone2cents understand this so I can stop reading that stupid. It makes us all more stupid when we read stupid stuff like that!

 

[Rune]

Why don't you read my reply above and then look in the mirror and see who the true idiot is.

Because you are an idiot. Read Damocles' posts. He is right, you are wrong, it is that simple.
Furthermore he has shown you where and how you are wrong 3 or 4 times and you are just putiing your hands over your ears and humming nanananananana over and oer again.

The Fed lends money to banks at the prime rate, presently less than 1%.
Yes $.40 of every dollar the gov. collects goes to pay interest, but not all to the Fed, and not for one year's worth of borrowing, but many decades worth, at compoud interest. Yes, this is still wrong, but it is not 50% or even 6%. The last time the prime rate was 6% was 3 or 4 administrations ago.

 

[wiseones2cents]

Because you are an idiot. Read Damocles' posts. He is right, you are wrong, it is that simple.
Furthermore he has shown you where and how you are wrong 3 or 4 times and you are just putiing your hands over your ears and humming nanananananana over and oer again.

The Fed lends money to banks at the prime rate, presently less than 1%.
Yes $.40 of every dollar the gov. collects goes to pay interest, but not all to the Fed, and not for one year's worth of borrowing, but many decades worth, at compoud interest. Yes, this is still wrong, but it is not 50% or even 6%. The last time the prime rate was 6% was 3 or 4 administrations ago.

Are you slow? Didn't I already explain I was exaggerating? Also I would imagine if you factor in inflation and the size of the debt? I'd say the interest being payed is similar!

Damo doesn't know what he is talking about! And could not support his claims with any facts.

Europe for example has many economies in trouble. If their economies were supported by only debt? There should be no problem. They have a long way to go before they reach America's 15 trillion dollars!

And they are making a big deal about America's debt. Why? Its only supported by debt! So why not the sky is the limit! Rack it up to 50 Trillion!!! Who cares! Its not backed by anything, just debt!!!lol

If the American dollar was no longer the default currency, you'd see that America's economy is backed more then with debt. It would do a nose dive.

Can you explain any of these?

 

[Rune]

Are you slow? Didn't I already explain I was exaggerating? Also I would imagine if you factor in inflation and the size of the debt? I'd say the interest being payed is similar!

Damo doesn't know what he is talking about! And could not support his claims with any facts.

Europe for example has many economies in trouble. If their economies were supported by only debt? There should be no problem. They have a long way to go before they reach America's 15 trillion dollars!

And they are making a big deal about America's debt. Why? Its only supported by debt! So why not the sky is the limit! Rack it up to 50 Trillion!!! Who cares! Its not backed by anything, just debt!!!lol



If the American dollar was no longer the default currency, you'd see that America's economy is backed more then with debt. It would do a nose dive.

Can you explain any of these?

Yes. You are an idiot.

 

[Damocles]

Yes. You are an idiot.

Don't bother. If they can't get the very simple concept of fiat currency, there is quite literally nothing to discuss.

The reason it is even called "fiat" is because the value of the money is simply by "fiat"... The government says, "This is money." therefore it is.

At this point any further discussion is moot as the central idea of their own point is flawed beyond repair.

It's like arguing that 2+2=4 to somebody who really wants it to represent 5...

 

[wiseones2cents]

Geebus, it just starts with a flat incorrect statement and then builds on it. The whole foundation of any form of "knowledge" on this subject that you may believe you have fails with the first statement of how they lend that "real wealth" to the US Government. Right there is where it starts to go wrong. Every piece after that is incorrect as well because all of it builds on that one factually incorrect statement.

Fiat Currency is not backed by any form of "real wealth", this is a fundamental piece of knowledge needed for any sort of realistic participation in this conversation. Each and every person must understand what Fiat Currency means.

Fiat Currency is literally money that is not backed by "real wealth", there is no gold or silver backing the currency, nothing. That is what fiat currency means.

Please read the last two sentences carefully, write them down 10 times each. Memorize them and hold them in your mind longer than 2 seconds. If you can actually grasp the concept of fiat currency we can begin to educate you on the topic so you can maybe get to a level where you can speak without the first sentence of what you say being so full of stupid that the rest of what you say no longer matters.

Please pay attention to this: Fiat Currency is not backed by real wealth, the Federal Reserve does not loan "real wealth" to the US government. Gold or Silver reserve notes no longer exist, only "legal tender for all debt public and private"...

Money that used to be redeemable for gold, then later silver, no longer exists (well you can buy the collectible paper but it is no longer redeemable). This is what FIAT CURRENCY is. It is literally what it means.

I cannot stress or repeat this often enough, because it is the fundamental piece of this conversation which makes every single thing you say stupid beyond repair. Fiat Currency is not backed by "real wealth"...

The investopedia definition of Fiat Currency:

http://www.investopedia.com/terms/f/fiatmoney.asp#axzz1bvLHUeSV

What Does Fiat Money Mean?
Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith.

Here is the wikipedia definition and page:

http://en.wikipedia.org/wiki/Fiat_money

Fiat money is money that has value only because of government regulation or law. The term derives from the Latin fiat, meaning "let it be done", as such money is established by government decree. Where fiat money is used as currency, the term fiat currency is used.

Please study this.

Fiat Currency is not backed by "real wealth"...

Please God... Let wiseone2cents understand this so I can stop reading that stupid. It makes us all more stupid when we read stupid stuff like that!

OK. I understand what has lead to the confusion. I thought "fiat money" was paper money that could ALSO be backed by gold.

Of course the money is no longer redeemable. That is the entire scam! Their investment is always safe!

Now back to the debate. The last questioning that made NO MENTION of fiat currency. Though I guess that was the only strand you had to hang on.

The federal reserve is composed of foreign investors who have REAL wealth(Not backed by debt). They lend that REAL wealth to America in Federal reserve notes with interest. I exaggerated the 50% interest.

I heard more modern figures as being less(like 6%) but either way, you are already in the hole as soon as you take FRN.

Anyways, when America had no more gold to pay, they set up a GDP system, where Americans could use the GDP as collateral to pay back the loans. The GDP guaranteed(for the most part) real wealth income. As long as they were able to pay the debt? The Fed would allow them to increase the debt. Therefore America's debt was backed by FED wealth. And of course as I explained the GDP.

Again the feds could exaggerate their holdings but up to a certain point.

My closing statement? It is your belief that non-Americans came to America, and lent Americans money(of no intrinsic value), and charged them interest?ROTFLOL!!!! Americans must all be pretty stupid!

And why did early American politicians refer to these people as FOREIGN INVESTORS, if they had no wealth to invest? Ohhhhhh here is another one. Where did all the Gold of the British Empire disappear to!!!!!

They say that 98+% of America's gold reserves are foreign owned. Hmmmmmmmmmmmmmmm

 

[Damocles]

There is no investment. There are no reserves backing that "money"... That's the point. You keep saying their "investment is safe"... There isn't no investment.

Dang. It's difficult, it shouldn't be.

Fiat currency has no intrinsic value. There is no "investment".

 

[Cancel 2016.2]

What are America's thoughts?

I say the greenback should be re-introduced to eliminate the hold the foreign banks via the fed reserve have on America.

How can a nation have sovereignty if a foreign institution controls their currency??

America should have the right to print their own money INTEREST FREE!! Much of America's debt is interest. The question is???? Interest to WHOM?

Just remember though.....The last two presidents that tried to introduce the greenback were assassinated. Lincoln and JFK. These people will not loosen their grip on America without the majority of Americans being on board. And they have other ways to punish you from trying to free your self from their perpetual debt(debt slavery).......

A debt the middle class and small businesses are burdened with in America.

What are your thoughts?

I have an older bill that still has US Treasury Note on it, rather than Federal Reserve note. I have kept it to show people what SHOULD be happening. It is absurd in my opinion to have the Federal Reserve in charge of printing our nations money.

 

[wiseones2cents]

There is no investment. There are no reserves backing that "money"... That's the point. You keep saying their "investment is safe"... There isn't no investment.

Dang. It's difficult, it shouldn't be.

Fiat currency has no intrinsic value. There is no "investment".

Then Americans ARE the dumbest people on the planet!!!lol

The Fed reserve(operated by foreigners) makes money out of thin air, turns a profit and used it to buy America! Who needs wars! These foreigners took over America, the country many Americans died fighting to protect, without firing one bullet!(Well....I'm sure they assassinated a few people here and there that got in their way or uncovered their racket. I guess Americans did lose the war of independence! They are still slaves to European credit!!!

OK. Lets start breaking this debate down to the nitty griity. Lets say you are correct. How did the foreigners convince the American Gov to allow them to issue credit backed by nothing? They'd have to allow everyone and their uncle a slice of the pie. Yet there was lots of opposition to the idea(unless it was false opposition?).

Lets say criminal elements(They had to be criminal), used their wealth(real wealth) to place puppets on top of every throne(at least major economies) on earth. Once they have total control, they can start issuing fake money(backed by nothing) I would imagine.......Since no-one would be able to audit them. Still suspicion would most certainly arise.

Its doable but unrealistic. The British empire who had the last global currency was backed by vast amounts of GOLD. Gold I guess they could have exaggerated. Maybe that is why they are trying to buy back all the world's gold.lol But nonetheless they had lots of GOLD backing their currency.Their silver had been drained by China but they still had tons of gold.Rather then start giving out their gold, they created paper money. That way they can hold on to their wealth.

Here I found this. Maybe you can explain what this means by 40% gold. It seems to be some sort of fractional banking???

http://en.wikipedia.org/wiki/Gold_standard

Prolongation of the Great Depression

The gold standard limited the flexibility of central banks' monetary policy by limiting their ability to expand the money supply, and thus their ability to lower interest rates. In the US, the Federal Reserve was required by law to have 40% gold backing of its Federal Reserve demand notes, and thus, could not expand the money supply beyond what was allowed by the gold reserves held in their vaults.

Does this mean 60% of the notes were worthless? It seems to suggest that 40% of the money was backed by Gold. How did the people of America not be up in arms??????? I guess many were eating from the pig troughs, and there was not much debt or inflation to begin with, so it really didn't hit home yet......Still the other 60% must have been backed by other valuables?

Considering they say that ALL of the British Empire's gold(If they had any left at all) was transferred to the US after the world wars. That could explain alot........

Also what did they mean by this?

This helped attract international investors who bought foreign assets with gold.

Commercial banks also converted Federal Reserve Notes to gold in 1931, reducing the Federal Reserve's gold reserves, and forcing a corresponding reduction in the amount of Federal Reserve Notes in circulation. This speculative attack on the dollar created a panic in the U.S. banking system. Fearing imminent devaluation of the dollar, many foreign and domestic depositors withdrew funds from U.S. banks to convert them into gold or other assets.


WELL!! That explains why they didn't let people redeem their money for GOLD!! Especially if the Feds had exagerated their gold reserves.

Sorry but all these things point to the reserve being backed by gold. It is the only thing that makes sense. Although now that they control the world through a credit monopoly, they can do whatever they want. No one can audit them.......

And what does this mean?

Congress passed the Gold Reserve Act on 30 January 1934; the measure nationalized all gold by ordering the Federal Reserve banks to turn over their supply to the U.S. Treasury. In return the banks received gold certificates to be used as reserves against deposits and Federal Reserve notes. The act also authorized the president to devalue the gold dollar so that it would have no more than 60 percent of its existing weight. Under this authority the president, on 31 January 1934, fixed the value of the gold dollar at 59.06 cents.

What happened to the missing 40%? You know. The ones the federal reserve had to have? Something smells fishy!

Even the Swiss Franc was based on a 40% legal gold-reserve requirement from 1936, when it ended gold convertibility.

The rich sure are scammers!!!They should not be allowed to get away with this robbery!

Therefore it WAS at least partially backed by gold to protect them from expanding the money supply. (even though that makes no sense).

It also states that most countries have gold reserves as a fail safe to back their currencies, in case their paper money game came to an end. I would imagine 40%!!!!

I will repeat, currency must be backed by some kind of welath(even partially). Gold reserves or GDP?

 

[Damocles]

Then Americans ARE the dumbest people on the planet!!!lol

The Fed reserve(operated by foreigners) makes money out of thin air, turns a profit and used it to buy America! Who needs wars! These foreigners took over America, the country many Americans died fighting to protect, without firing one bullet!(Well....I'm sure they assassinated a few people here and there that got in their way or uncovered their racket. I guess Americans did lose the war of independence! They are still slaves to European credit!!!

OK. Lets start breaking this debate down to the nitty griity. Lets say you are correct. How did the foreigners convince the American Gov to allow them to issue credit backed by nothing? They'd have to allow everyone and their uncle a slice of the pie. Yet there was lots of opposition to the idea(unless it was false opposition?).

Lets say criminal elements(They had to be criminal), used their wealth(real wealth) to place puppets on top of every throne(at least major economies) on earth. Once they have total control, they can start issuing fake money(backed by nothing) I would imagine.......Since no-one would be able to audit them. Still suspicion would most certainly arise.

Its doable but unrealistic. The British empire who had the last global currency was backed by vast amounts of GOLD. Gold I guess they could have exaggerated. Maybe that is why they are trying to buy back all the world's gold.lol But nonetheless they had lots of GOLD backing their currency.Their silver had been drained by China but they still had tons of gold.Rather then start giving out their gold, they created paper money. That way they can hold on to their wealth.

Here I found this. Maybe you can explain what this means by 40% gold. It seems to be some sort of fractional banking???

http://en.wikipedia.org/wiki/Gold_standard

Prolongation of the Great Depression

The gold standard limited the flexibility of central banks' monetary policy by limiting their ability to expand the money supply, and thus their ability to lower interest rates. In the US, the Federal Reserve was required by law to have 40% gold backing of its Federal Reserve demand notes, and thus, could not expand the money supply beyond what was allowed by the gold reserves held in their vaults.

Does this mean 60% of the notes were worthless? It seems to suggest that 40% of the money was backed by Gold. How did the people of America not be up in arms??????? I guess many were eating from the pig troughs, and there was not much debt or inflation to begin with, so it really didn't hit home yet......Still the other 60% must have been backed by other valuables?

Considering they say that ALL of the British Empire's gold(If they had any left at all) was transferred to the US after the world wars. That could explain alot........

Also what did they mean by this?

This helped attract international investors who bought foreign assets with gold.

Commercial banks also converted Federal Reserve Notes to gold in 1931, reducing the Federal Reserve's gold reserves, and forcing a corresponding reduction in the amount of Federal Reserve Notes in circulation. This speculative attack on the dollar created a panic in the U.S. banking system. Fearing imminent devaluation of the dollar, many foreign and domestic depositors withdrew funds from U.S. banks to convert them into gold or other assets.


WELL!! That explains why they didn't let people redeem their money for GOLD!! Especially if the Feds had exagerated their gold reserves.

Sorry but all these things point to the reserve being backed by gold. It is the only thing that makes sense. Although now that they control the world through a credit monopoly, they can do whatever they want. No one can audit them.......

And what does this mean?

Congress passed the Gold Reserve Act on 30 January 1934; the measure nationalized all gold by ordering the Federal Reserve banks to turn over their supply to the U.S. Treasury. In return the banks received gold certificates to be used as reserves against deposits and Federal Reserve notes. The act also authorized the president to devalue the gold dollar so that it would have no more than 60 percent of its existing weight. Under this authority the president, on 31 January 1934, fixed the value of the gold dollar at 59.06 cents.

What happened to the missing 40%? You know. The ones the federal reserve had to have? Something smells fishy!

Even the Swiss Franc was based on a 40% legal gold-reserve requirement from 1936, when it ended gold convertibility.

The rich sure are scammers!!!They should not be allowed to get away with this robbery!

Therefore it WAS at least partially backed by gold to protect them from expanding the money supply. (even though that makes no sense).

It also states that most countries have gold reserves as a fail safe to back their currencies, in case their paper money game came to an end. I would imagine 40%!!!!

I will repeat, currency must be backed by some kind of welath(even partially). Gold reserves or GDP?

No, stupid, it doesn't. It is not backed by GDP, it isn't backed by anything. It is why "printing more" causes inflation, on and on.

Without this, the simplest of concepts in this particular subject block, you are utterly incapable of being able to participate in the conversation. Literally, you are so ignorant of the topic that it is like a 4 year old arguing physics with a PHD in Physics.

The Euro is a Fiat Currency, the dollar, the yen, on and on and on...

If I believed in a God that accepted prayer and acted on it, this would be my prayer for you:
Please, Jeebus... Please. Let this idiot understand what Fiat Currency is! Please, allow him/her to go and speak to his/her High School Economics teacher and ask the question, "What is Fiat Currency?" so that he/she can just make even one piece of sense in this debate!

Please God! Give him/her a brain cell, maybe two so that they can retain the information long enough to type something that makes sense...

I've given him/her websites, legal definitions, told them directly what it means, but they are still so stupid that the concept slips out of their mind like an ice cube melting away in hot water...

Bless them with some form of memory so they can keep and retain the following:

There is nothing backing our currency except the full faith and credit of the United States Government.

Amen, so Mote it BE!

 

[Rune]

I calling the guys in the clean white coats for you, even as we speak.
Try to stay calm, help is on the way.

 

[Damocles]

You've spent so much time worrying about Freemasons being the cause of "fiat currency" that you've utterly neglected actually learning what the problem is you are blaming them for...

And believe me, if Freemasonry had anything to do with this monetary policy I would not be a participant in it...

 

[Damocles]

The US currency is literally created out of debt...

Here is a very short explanation:

One that you might understand:

 

[wiseones2cents]

No, stupid, it doesn't. It is not backed by GDP, it isn't backed by anything. It is why "printing more" causes inflation, on and on.

Though it has to have a set value(backed by wealth most likely) for there to be inflation(to appreciate and depreciate in value). What determines that set value? Did all countries start off on a level playing field(in regards to currency). I highly disagree.

Without this, the simplest of concepts in this particular subject block, you are utterly incapable of being able to participate in the conversation. Literally, you are so ignorant of the topic that it is like a 4 year old arguing physics with a PHD in Physics.

You have failed to address the key points. OK, why doesn't Canada just increase their deficit to 20 Trillion and surpass America? We'd own everything! Why don't we just rack our debt up to 100 trillion? Why? You have to be able to pay it back and that is where GDP comes into play. America has a larger GDP and thus can afford a larger debt.

The thing is..... that if the money is not backed by wealth and there is no chance for losses. Why are we paying interest? There is another question for you.

The only thing I can think of is that people are stupid?

The Euro is a Fiat Currency, the dollar, the yen, on and on and on...

If I believed in a God that accepted prayer and acted on it, this would be my prayer for you:
Please, Jeebus... Please. Let this idiot understand what Fiat Currency is! Please, allow him/her to go and speak to his/her High School Economics teacher and ask the question, "What is Fiat Currency?" so that he/she can just make even one piece of sense in this debate!

Please God! Give him/her a brain cell, maybe two so that they can retain the information long enough to type something that makes sense...

I've given him/her websites, legal definitions, told them directly what it means, but they are still so stupid that the concept slips out of their mind like an ice cube melting away in hot water...

Bless them with some form of memory so they can keep and retain the following:

There is nothing backing our currency except the full faith and credit of the United States Government.

Amen, so Mote it BE!

I thought we have already cleared up the definition of fiat money? Your debating is weak. You seem to focus on little arguments you think you are winning and ignore the bulk of it. Try answered my questions.

 

[Rune]

Though it has to have a set value(backed by wealth most likely) for there to be inflation(to appreciate and depreciate in value). What determines that set value? Did all countries start off on a level playing field(in regards to currency). I highly disagree.




You have failed to address the key points. OK, why doesn't Canada just increase their deficit to 20 Trillion and surpass America? We'd own everything! Why don't we just rack our debt up to 100 trillion? Why? You have to be able to pay it back and that is where GDP comes into play. America has a larger GDP and thus can afford a larger debt.

The thing is..... that if the money is not backed by wealth and there is no chance for losses. Why are we paying interest? There is another question for you.

The only thing I can think of is that people are stupid?



I thought we have already cleared up the definition of fiat money? Your debating is weak. You seem to focus on little arguments you think you are winning and ignore the bulk of it. Try answered my questions.

Dixie?

 

[Damocles]

Though it has to have a set value(backed by wealth most likely) for there to be inflation(to appreciate and depreciate in value). What determines that set value? Did all countries start off on a level playing field(in regards to currency). I highly disagree.

Man you are thick. It's impossible to even speak on the topic when the other person deliberately will not understand what "fiat currency" actually means. It is not backed by anything, nothing. The term literally means currency that is solely backed by the government calling it currency.

You have failed to address the key points. OK, why doesn't Canada just increase their deficit to 20 Trillion and surpass America? We'd own everything! Why don't we just rack our debt up to 100 trillion? Why? You have to be able to pay it back and that is where GDP comes into play. America has a larger GDP and thus can afford a larger debt.

Because it decreases the value of their money, it is what inflation means. Again, please, please, please... read up on the Weimar Republic, read how printing more and adding to their debt created inflation and caused the total collapse of their currency.

The thing is..... that if the money is not backed by wealth and there is no chance for losses. Why are we paying interest? There is another question for you.

The only thing I can think of is that people are stupid?


I thought we have already cleared up the definition of fiat money? Your debating is weak. You seem to focus on little arguments you think you are winning and ignore the bulk of it. Try answered my questions.

No, we haven't. You are deliberately idiotic on the topic. I gave you links, historic reference to what happens when you overprint the currency, gave you more links, gave you definitions directly and you are still saying it is backed by something other than government fiat. It's like arguing with a rock. You waste everybody's time because you literally know nothing at all about the topic which you are speaking. It's utter nonsense. Our currency is literally created by debt, literally. And the more we create the less value we have in our dollar, it's why a McDonald's meal that just two years ago was $3.50 now costs you $8 or more to purchase...

You need to take an economics course, then when you are done take it again. Keep doing it until you can come on here with a full grip on what fiat currency is.

 

[Schadenfreude]

Man you are thick. It's impossible to even speak on the topic when the other person deliberately will not understand what "fiat currency" actually means. It is not backed by anything, nothing. The term literally means currency that is solely backed by the government calling it currency.




Because it decreases the value of their money, it is what inflation means. Again, please, please, please... read up on the Weimar Republic, read how printing more and adding to their debt created inflation and caused the total collapse of their currency.



No, we haven't. You are deliberately idiotic on the topic. I gave you links, historic reference to what happens when you overprint the currency, gave you more links, gave you definitions directly and you are still saying it is backed by something other than government fiat. It's like arguing with a rock. You waste everybody's time because you literally know nothing at all about the topic which you are speaking. It's utter nonsense. Our currency is literally created by debt, literally. And the more we create the less value we have in our dollar, it's why a McDonald's meal that just two years ago was $3.50 now costs you $8 or more to purchase...

You need to take an economics course, then when you are done take it again. Keep doing it until you can come on here with a full grip on what fiat currency is.

money is a fiction that most of us have agreed to treat as reality

your money is only as good as others believe in it

 

[wiseones2cents]

Man you are thick. It's impossible to even speak on the topic when the other person deliberately will not understand what "fiat currency" actually means. It is not backed by anything, nothing. The term literally means currency that is solely backed by the government calling it currency.

Are you fucking retarded or something? We have already established what fiat money is. Paper money backed by no real wealth, though what we are trying to establish is if the American dollar is a truly fiat currency.

Answer the question fuck head. Did every currency then start at the same value(before the accumulated debt)? Maybe explain to us why the Kuwaiti Dinar is the highest currency. Can it be because of GDP(oil backing the value of their money)?

Your still stuck on fiat currency because that is the only strand you can cling on to.LOL

Because it decreases the value of their money, it is what inflation means. Again, please, please, please... read up on the Weimar Republic, read how printing more and adding to their debt created inflation and caused the total collapse of their currency.

Who cares if it decreases the value of the loonie! Every one in Canada will be rich! We will be the largest industry in the world. We have the most resources! We do not need to trade with anyone! And if people don't pay top dollar for our exports, we wont sell!I figure by the time our deficit reaches 100 Trillion we will be the strongest nation with the most powerful military in the world!!! We need jet fighters made? NO PROBLEM!!! I will just add 10 trillion to the deficit and have the largest air force in the world!!

If we have trouble paying our debt, we will just create more money! The sky is the limit!LOL

Who cares about the weimer republic. They didn't have the resources Canada has.

I think there is certainly an idiot here and it isn't me.

No, we haven't. You are deliberately idiotic on the topic. I gave you links, historic reference to what happens when you overprint the currency, gave you more links, gave you definitions directly and you are still saying it is backed by something other than government fiat. It's like arguing with a rock. You waste everybody's time because you literally know nothing at all about the topic which you are speaking. It's utter nonsense. Our currency is literally created by debt, literally. And the more we create the less value we have in our dollar, it's why a McDonald's meal that just two years ago was $3.50 now costs you $8 or more to purchase...

You need to take an economics course, then when you are done take it again. Keep doing it until you can come on here with a full grip on what fiat currency is.

Yawn. You are avoiding the questions like a plague because you dont want to expose how stupid you really are.lol

I am well aware of inflation. How the value of money is affected by the amount of paper money in circulation, though it has to have a base value.

I'm still waiting for you to answer why we pay interest on the national debt if the creditors have no chance of taking a loss? That doesn't sound right does it?

If you avoid the questions and bring up fiat currency again, I will know that you are being evasive and dont want to be exposed as the dumb fuck you really are.

 

[Rune]

That has to be the most ignorant collection of thoughts I have ever been exposed to in my entire life.

 

[wiseones2cents]

money is a fiction that most of us have agreed to treat as reality

your money is only as good as others believe in it

That's true to an extent though to even the biggest lie, there has to be some truth. There has to be something backing the money regardless of how little it is. I know many countries keep large gold reserves as insurance should their currencies ever do a nose dive. Those gold reserves are held by the true masters of the planet........

America being the largest(which are actually Britain's gold reserves).

$361.8bn

Others have huge oil reserves in their country which is just as good as gold these days.

If what you say is true then Americans are paying trillions of dollars in interest for no reason at all.