Today , just before work , a coworker and I were talking about the economy , during the conversation we some how came to the topic of money and what gives money its value . When I mentioned that money hasn't been backed by gold , or any other precious metal for that mater for over 30 years now , well he almost lost it , thinking I was nothing but a total idiot . He literally got angry and became insulted by me and refused to listen . I tried to explain how the government would issue treasury bonds to the central bank and then in turn the bank would print up some new money to loan to the government , at interest , for the treasury bonds that the central bank had received from the government . From his response I didn't dare bring up how new money was created by personal loan's or credit cards .

Having time to reflect on the experience I can't help but wonder , does the vast majority of people still believe as my miss lead coworker , that money is still backed by gold ?

Yes this is really bad people just don't know sometimes at least, They really think the government is here to help them to. Like Tomas Jefferson said ( if someone says they want help you run like hell )

And what ever you do don't tell friend his wife is haing sex with everyone he knows, I killed that sucker!!

[edit on 18-11-2008 by googolplex]

[edit on 18-11-2008 by googolplex]

Should we be alarmed that people are so set in there way and there notion that they are informed and don't bother to check and see if they truly are informed ?

Originally posted by googolplex

And what ever you do do tell friend his wife is haing sex with everyone he knows, I killed that sucker!!

[edit on 18-11-2008 by googolplex]

Do you mind explaining to me what the hell this is supposed to mean?

Jesterman

I left out n't on do don't, my fingers don't work as fast as brain.

And I won't admit it means any thing but you can't tell people somethings.

Originally posted by googolplex
Jesterman
I left out n't on do don't, my fingers don't work as fast as brain.

Ahh, thank you for the clarification.

Carry on...