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Originally posted by Seraphim_Serpente
Quote: "so what eventually happens then, if the currency is backed by virtually nothing? When does it reach the point that people wont use Dollars anymore."
You are missing the Point of what I am saying! First of all CASH or Federal Reserve Notes ARE backed up - by the Markets - by things like the GDP & Corporate/Government Stocks & Bonds.
Secondly CASH is not the only Form of "Dollars" - did you forget about Checks? Its all a matter of "Ownership" & "Commerce" - Dollars will not just simply go out of Existence - although the use of CASH in general might decrease with the use of Newer Technologies like "Debit Cards"! "Dollars" is a method of Valuation - "Dollars" is Consensus Reality!
Originally posted by Seraphim_Serpente
Quote: "so is there a way to see what Assets they hold then?"
Yes, OK - I guess that is what it comes down to: Accountability. With Public Governmental Institutions there is Accountability - with Public Corporations there is Accountability (they are required to Publicly Declare their Financial Data/Information).
Here is the Catch - like I said before the Federal Reserve is a *Private Corporation*.
Listen I am not a "FED" Apologist - I also am rather Disgusted by their Conduct - I doubt that their Raising of Short Term Interest Rates has anything to do with "Inflation" & personally I don't use Cash if I don't have too. All I am trying to say is that the Existence of the "FED" does not signal the end of the World - they are a Corporation that has a Monopoly on a certain Product. There are ways around it - I like to use Debit Cards & Checks!
Remember it is a "Free Market" & that this is a Capitalist Country - Cash or Paper Currency is still needed.
Originally posted by toasted
www.scoop.co.nz...
she is suing the gov't , they screwed her over, like they screwed over INSLAW