What is the dollar really worth?

edited :/

dont bother attacking the dollar.

I think you might get better value out of a roll of Charman.

OP,

Watch this, if ever any documentary has changed my view of the world its this short half hour clip.

The rest of the "hidden secrets of money" videos are just as good, but this one, should answer your question.

The value like with any FIAT currency is whatever you imgaine it to be

reply to post by OtherSideOfTheCoin


Thanks,

Very imformative

reply to post by lostbook


1USD = .73 EUR
1USD = 1.07 Canadian Dollar
1USD = 1.10 Australian Dollar

Modern currencies aren't backed by gold. You cannot back your currency by gold or silver with our current population and world economy.

reply to post by lostbook


A federal reserve note USD is worth a can of generic 'Tomato' soup or a can of 'Chicken-Noodle' soup

last year those two items were generally 60 cents each
and the year before that one could find the same soups on sale @ 49 cents or 'vegetable-beef' for 99 cents

but the stores i go to have tomato & chicken noodle soups for $1 each and vegetable for like $1.50+
which translates to maybe 56 cans of soup for a day' s work at minimum wage
or two cans of soup per day for a week to fill the stomachs of a family of four

~the other 5 days pay @ minimum wage would mostly be spent on the ØbamaCare health insurance---
( to wit: the cheapest 'Bronze' level policy on a State Exchange)


dollars will keep some actual trade value in the domestic market...but forget about things not being subsidized by gov't such as foreign stuff,
Imported stuff will soon be out of the reach of honest american residents (notice there are no longer 'citizens' only residents with voting rights and welfare safety nets for the Amnesty crowds

Well if you frame some bills now they would probably be wroth more in 50 years than what they are today.

On a more serious note, I travel to may places around the world and the dollar is still number one compared to many other currency. How long will depend on the banks and federal reserve, I guess time will tell.

reply to post by lostbook

What is the dollar really worth?

The gawd-almighty US Dollar has the actual, physical value of a small piece of rag paper with some specialized ink.

Note: This next part is drawn from memory so if I get a part of it wrong, please feel free to set it right...

Prior to the US Civil War, there was a row between southern states selling cotton to Europe based on gold and silver currency from nations like England, France and Spain. By doing business this way, these European nations got the cotton they so desperately loved and the sellers got paid in currency that carried value by weight, not denomination. At the time, silver and gold were far more worthy than the US Dollar. This is one of those aside subjects that came to a head before 12 April 1861 and that is so often ignored today.

Today's version of this off-the-side business is the Bitcoin and in some circles, it carries more value than that old Dollar. Now, whether the Fed gets tiffed by this is yet to be seen but if the recent news is right, China doesn't like it either and is trying to degrade it.

In closing, the Dollar has been and likely always will carry (as long as it exists) far more conceptual value than it actually has. Right now, it owns the largest share of the world's trade so... no one really wants to see it crash. Well, expect for maybe Iran, Venezuela, North Korea, etc.

Point being... it is a value that is created in thin air, not founded in any firmity.

IMESHO, that is