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Originally posted by burdman30ott6
If the US and Eurozone were to economically collapse, the thrid world countries would suffer immensely. Most all economic "development" in the third world comes from aid package & private philanthropy from the US & Eurozone. I would guess that, in the face of economic disaster, most of that money would also go away, leaving the third world countries with little to nothing.
Originally posted by fixitwcw
reply to post by agentblue
i would say those who stand to gain the most would not be countries, but the criminals in washington and those pulling their strings.
Bottom line, under the current system those "colorful pieces of numbered paper" can be exchanged for goods and/or services.
...The Federal Reserve, too, has declared that it cannot help the states with their budget problems...
Inspired by North Dakota’s example, twelve states have now introduced bills to form state-owned banks or to study their feasibility. Eight of these bills have been introduced just since January, including in Oregon, Washington State, Massachusetts, Arizona, Maryland, New Mexico, Maine and California. Illinois, Virginia, Hawaii and Louisiana introduced similar bills in 2010. www.webofdebt.com...
A group of State Representatives in New Hampshire, state motto: "Live Free Or Die," have introduced a voluntary, parallel Gold/Silver money bill for the Granite State.... goldmoneybill.org...
...Given the previous hyperinflation, clearly there was ample reason for currency revulsion. So you can consider this argument a necessary but not sufficient precondition. What makes the universal acceptance stick is that government accepts its own money to expunge liabilities to it. In plain English, fiat money has value because it is the only money you can use to pay taxes. ....The fact that this money is also the medium of exchange only entrenches its use. So the tax liability is a necessary pre-condition for fiat currency to work, something I will return to.... www.creditwritedowns.com...