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Title: I will pay you $1,000
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Published: Sep 26, 2008
Author: me
Post Date: 2008-09-26 08:56:48 by Itisa1mosttoolate
Keywords: None
Views: 388
Comments: 13
if you can prove that the United States Dollar is backed by gold and/or silver. All the Treasury needs to do is use paper and ink and printing presses to make "money."
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#1. To: Itisa1mosttoolate (#0)
I don't believe that the US government makes such a claim.
Antiparty - find out why, think about 'how'
Which claim is that?
The dollar has not been backed by gold since August 1971 when Nixon closed the gold window. However, we have not been a pure fiat currency since then, because we instead went to a de-facto "petrodollar standard". This is why it's been so important to keep every petroleum exporting country accepting our dollars for their oil. When Saddam took started accepting euros for oil, we had to demonize him and ultimately invade Iraq. Now Iran is accepting euros for their oil, and guess who we're going to attack next? So long as the NYMEX in New York and the IPE in London take dollars for oil, and they handle the vast majority of oil transactions, the dollar has something backing it. The moment that falls apart, the dollar will revert to its true value, which is basically the value of the paper its printed on.
#2. To: a vast rightwing conspirator (#1)
#3. To: Itisa1mosttoolate (#0)
 | Gold and silver are REAL money, paper is but a promise. |
#4. To: Itisa1mosttoolate (#2)
Huh?
#5. To: robnoel (#4)
Come on Rob you know better than that.
#6. To: Elliott Jackalope, robnoel (#3)
FDR goes off Gold Standard in 1933
#7. To: Itisa1mosttoolate (#5)
I still don't get your statement whats the point with the link to Liberty Dollars ?....which is a scam wrapped in patriotism
#8. To: robnoel (#7)
I'll pay $2,000 if you can prove that the United States Dollar is backed by gold and/or silver. All the Treasury needs to do is use paper and ink and printing presses to make "money."
#9. To: Itisa1mosttoolate (#8)
I still don't get what you saying to be correct the gold dollar relationship ended for Americans in 1933...whats your point?
#10. To: robnoel (#9)
My point It's just paper and ink
#11. To: Itisa1mosttoolate (#10)
U just figured that out?
#12. To: Itisa1mosttoolate, bluegrass2 (#0)
David Blaine should try that for his next grand illusion. David Blaine should the next fed chairman (if he meets the religious pre- requisite).
All the Treasury needs to do is use paper and ink and printing presses to make "money."
AIPAC/PNAC/ADL/NAACP/FEDERAL RESERVE/SPLC/JINSA/ACLU/CHRISTIAN ZIONISTS/AEI/FEDERAL MEDIA & HOLLYWOOD: Oh, those Islamofascists.
#13. To: robnoel (#11)
I didn't 'just' figure it out, I've known it for a long time. I was just answering your "What's your point?" question.
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