I’ve never understood how a society could put value in a piece of paper backed by NOTHING and accept it for exchange of goods and services. Why not use blades of grass? Tree bark?
I suppose the only thing that makes it ‘valuable’ is the fact that ‘they’ can print it, and ‘we’ can’t....
“Why not use blades of grass? Tree bark?”
I remember asking my father why didn’t we use chickens, but I forget what he told me.
Seriously, I was shocked, really shocked to find out we had only gone off the gold standard under Nixon. I thought it had been long before.
When Steve Forbes ran for pres. and had this as part of his campaign, all the media did was giggle about it.
It was that behaviour that caused me to realize that the MSM is not in any way interested in “informing” the public.
Although I was still shocked, really shocked, to see what shills they were for Obama.
A Government gives _____ (whatever, fill in the blank) by demanding it in payment of taxes.
You don’t want a gold standard like during the wild west days because you would owe/pay all your bills/debt in gold plus other countries would hoard our gold and it would leave our borders.
The entire financial system needs a rework from the ground up but it will have to melt down first before Congress decides to do anything meaningful.
I like the idea of interest free banks, which means interest free debt...you don’t think bankers would howl about that idea.