Quote:
Originally Posted by sillyvia13
fiat money = fail.
Simple.
Gold based money = win.
Back our money with legit currency.
Dude when the sky falls. dont look to stock food and shit then.
You'll be with the rest of the none believers
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Going back to a gold based system would put us right back into the upper 5 percent of rich people....and the rest of us slugs...It's a great idea on paper, but would crush the global economy. The Fiat (fractional reserve) system works just fine, as long as everyone plays by the rule and respects the system....but I guess that holds true for everything in life....
I know it may not be much, but I often wonder what our actual federal deficit would be if we were to 'collect' from all of the countries that owe us money....I find it interesting that people are quick to claim that we owe XXX country XXX money, but fail to bring up the fact that country YYY has owed us YYY for much longer....
FWIW: While we may have the same symptoms has post war economies in our past, and the great depression, we have COUNTLESS more systems and balances in place now to prevent such a thing from happening....that is not to say it's impossible, but certainly not as easy for it happen as it has in the past.