To: Toddsterpatriot
The exchange value of a dollar bill can be expressed in terms of nondurable goods (wheat or cigarettes); metals (gold or uranium); or other cur rencies (the yen or the peso). A useful rule of thumb is to think that a dollar has two pricesthe prices to which Congress and Wall Street pay the most attentionand that both prices represent supply and demand in peculiar markets.
That tired old relic, the US Constitution, defined the "dollar" as a weight of silver (371.25 grains troy). But it's no longer a useful rule of thumb for Congress.
7 posted on
06/11/2005 5:10:22 PM PDT by
Colinsky
To: Colinsky
"That tired old relic, the US Constitution, defined the 'dollar' as a weight of silver (371.25 grains troy)."No it didn't.
9 posted on
06/11/2005 5:14:43 PM PDT by
Fabozz
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