Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: mvpel

if its a global currency how long do you think it will stay backed by gold? If its global someone is controlling it and making decisions, who are those people? By definition a global currency isn’t going to be focused on US interests.

Yet one more example of how loose his grip on reality is.


45 posted on 01/05/2012 10:28:55 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
[ Post Reply | Private Reply | To 44 | View Replies ]


To: driftdiver
if its a global currency how long do you think it will stay backed by gold?

When you buy stock in Coca-Cola, you don't ask how long a share of Coca-Cola stock will be backed by the profits of the Coca-Cola Corporation. Likewise, you're not forced to buy their stock. The same considerations would apply to any issuer of a gold-backed currency.

You're assuming that people would necessarily be forced into using some hypothetical gold-backed global currency. The only reason the US government needs to force us to use the US dollar, and punish people who offer alternatives, is because there's NOTHING backing up the US dollar except a pile of IOUs held by the Fed. The same is not true of gold.

46 posted on 01/05/2012 11:48:01 AM PST by mvpel (Michael Pelletier)
[ Post Reply | Private Reply | To 45 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson