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To: MeganC

I don’t think they had 18 trillion in liability, they just suffered from massive dollar devaluation, hyper inflation.

Zimbabwe couldn’t muster a billion in real assets, let alone hope to guarantee a 100 trillion debt note..


17 posted on 10/16/2013 4:10:51 PM PDT by Las Vegas Ron ("Medicine is the keystone in the arch of socialism" Vladimir Lenin)
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To: Las Vegas Ron

The funny thing about fiat currencies is that they have no intrinsic value of their own so there’s nothing to say that a Zimbabwe dollar is ‘worth’ more or less than ours aside from our collective faith that says a US dollar is worth more than a Zimbabwe dollar.

At the end of the day both currencies are faith-based and are both being inflated into irrelevancy.


28 posted on 10/16/2013 4:58:15 PM PDT by MeganC (A gun is like a parachute. If you need one, and don't have one, you'll never need one again. 969)
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