Replies

[Maybe because 3,000 years of recorded human history now points conclusively to the dollar being one more in a long series of currencies going bust? Or perhaps you can point to one case in human history where an unbacked fiat currency has been printed to infinity from thin air, where it did NOT go bust? Let's see...the Roman Denarius? The French Assignat? The Weimar Deutsch Mark? Can you point to one, please?]

If my next comments insult you, then I apologize in advance, I mean no disrespect.

This sounds like something that has been taken out of context and regurgitated from an economics professor. Maybe an article somewhere?

The issue with currency of olden times when cultures foregone switched from trading commodities, goods and services directly to "money", which only represented the commodities, goods and services is that they did not understand what we now consider basic economics. They invented inflation and we only know how and why it exists because of that 3,000 years of history. Civilization has come a long way. A monetary value of currency is based on the availability of it. The harder it is to get, the more it is worth. We only know that because cultures before us just kept printing more to make themselves "wealthy". Before long the proverbial bucket was worth more than all the money you could stuff inside it. Our Guvmnt now keeps a pretty tight reign on how much money is in circulation going as far as to consider and research how much American money is being manufactured outside of the US (counterfeit).

If you think we are done learning about economics check again. Half of this country still does not understand how lowering the tax burden on the American population actually adds tax revenue to the Guvmnt. In fact, I would argue that no one can yet tell how low you have to go in taxes before you reach the "point of diminishing returns" and reverse the historic affect of lowering taxes (economic growth).