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Originally posted by Knives4eyes
I may have been misinformed but didn't Ron Paul say that if he was elected he would remove the U.S. dollar?
The Nixon Shock of 1971 ended the direct convertibility of the United States dollar to gold. Since then all reserve currencies have been fiat currencies, including the U.S. dollar and the Euro.[
While gold- or silver-backed representative money entails the legal requirement that the bank of issue redeem it in fixed weights of gold or silver, fiat money's value is unrelated to the value of any physical quantity. Even a coin containing valuable metal may be considered fiat currency if its face value is higher than its market value as metal.
Before this becomes political and deviates from objective analysis it should be known that killing the dollar and CUTTING spending
I sometimes wonder if it isn't foreign forces at play trying to hurt our economy because we (the US) are absolutely trouncing the EU,
Originally posted by ThirdEyeofHorus
reply to post by IndianaJoe
Before this becomes political and deviates from objective analysis it should be known that killing the dollar and CUTTING spending
They just need to cut the freakin spending. They don't have to kill the dollar. Only globalists want to kill the dollar and they want to crash the economy. They are doing a grand job of it, don't you think? Politicians don't want to stop spending because that is how they get elected, by promising stuff to people who just don't know any better and want easy money. We can't stop spending till we "kill" some entitlements, and Barack and friends have just added more entitlements. It's called Obamacare and the cost is going to be insane. No one who cares about this country would have done that. Thanks a bunch Progressives for the darn Socialist Utopia nonsense.