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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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To: MeganC

Megan?

This is where the US has an immense advantage.

Even a “new” US dollar would have instant credibility.

Because, America is special....


29 posted on 10/16/2013 4:59:46 PM PDT by Eurotwit ("Every saint has a past and every sinner has a future.")
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To: MeganC
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.

I can't say I agree with that, Zimbabwe didn't have a 16 trillion dollar GDP, ergo the faith in the currency

But suffice it to say, your assessment with fiat currency imo is spot on.

30 posted on 10/16/2013 5:21:23 PM PDT by Las Vegas Ron ("Medicine is the keystone in the arch of socialism" Vladimir Lenin)
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